malaysiangIPOH, The amendments to the Housing Development (Control and Licencing) Act 1966 (Act 118) 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 (KPKT) Minister Nga Kor Ming said the ministry is actively engaging with stakeholders to ensure that these 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 home buyers’ 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 (MoU) between the Perak Housing and Property Board (LPHP) and the National Housing Department here today.
The MoU aims to revive and rehabilitate ailing and abandoned housing projects in Perak.
Earlier, Nga reportedly said that with the amendment, developers
involved in fraud or abandoned projects could face court proceedings and be subject to imprisonment for up to three years, fines ranging from RM250,000 to RM500,000, or both.
Nga highlighted that KPKT has successfully revived 663 sick and abandoned projects, benefiting over 64,000 home buyers 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.
Source: BERNAMA News Agency
