The Selangor government has set up a RM20 million fund to revive abandoned housing projects in the state.

 

According to state executive councillor in charge of housing Iskandar Ab Samad, the funds will be used to pay for the projects through a sharing scheme between the government and home buyers.

 

He added that priority for the funds, which is also contributed by the Selangor Housing and Property Board, will be given to low-cost homes.

 

He said the government will bear the entire costs for the revival of low-cost home projects worth from RM35,000 to RM42,000 per unit.

 

However, buyers of units priced from RM42,001 to RM72,000 and between RM72,001 and RM100,000 will have to foot 20 and 30 percent of the cost respectively.

 

The state will only pay 40 percent of the cost of reviving projects for homes worth RM101,000 to RM200,000 per unit, and 20 percent for homes worth RM200,001 to RM300,000 per unit.

 

“To date four abandoned housing projects involving 1,000 units have been identified. Other projects will be selected at a later date,” he said in a statement.

 

Selangor has a high number of abandoned housing projects, leaving thousands of home-buyers stranded after construction companies went bankrupt.

 

In Hulu Selangor district alone, over a dozen abandoned housing projects have not been revived.

 

Among notable projects are the Desa Beruntung and Erina Heights housing schemes in Ulu Yam, and projects in Lembah Beringin, Bukit Sentosa and Genting Valley.