IPOH, July 10 — The amendments to the Housing Development (Control and Licensing) Act 1966 to enforce stricter measures against developers involved in fraud and abandoned projects are expected to be presented in Parliament next year.
Housing and Local Government Minister Nga Kor Ming said his ministry is engaging with stakeholders to ensure the amendments provide fair outcomes for all parties, including property buyers.
“We will listen to all sides, beginning with Rehda (Real Estate and Housing Developers’ Association) and the homebuyers’ association. Before making any decisions, we will conduct a study and present these proposed amendments in 2025,” he told a press conference after the signing of a memorandum of understanding between the Perak Housing and Property Board and the National Housing Department here today.
The deal is to revive and rehabilitate ailing and abandoned housing projects in Perak.
Previously, Nga reportedly said that with the amendment, developers involved in fraud or abandoned projects could face court action and be subject to three years’ prison, RM250,000 to RM500,000 in fines, or both.
Nga said his ministry has revived 663 ailing and abandoned projects, benefiting over 64,000 homebuyers in less than two years.
He said a special government guarantee fund of RM1 billion has been established to further support ailing projects and provide relief to buyers affected by abandoned projects.
— Bernama
