KUALA LUMPUR, Nov 14 (Bernama) -- A total of 1,289 abandoned private housing projects have been successfully revived by the Ministry of Housing and Local Government’s (KPKT) special task force from 2023 to September 2025.
The ministry’s secretary-general Datuk M Noor Azman Taib said the initiative involved 154,659 residential units with a gross development value of RM123.7 billion.
“For this year alone, 362 sick and delayed housing projects have been successfully revived. This is proof that when the government and industry work together, no project is impossible to save.
“In this regard, the government has also allocated RM25.84 million specifically in the Budget 2026 for the recovery of abandoned projects. This proves the government's determination in its efforts to resolve the plight of affected homebuyers,” he said.
He said this at the Real Estate and Housing Developers' Association Malaysia (REHDA) annual dinner here today.
In addition, Nor Azman said that as of Sept 30, 2025, a total of 501,033 affordable housing units are available nationwide, comprising completed houses and those in various stages of development.
He said this is a significant achievement in the country’s history.
“KPKT is currently in progress to amend Act 118 to be in line with the current developments and needs of the housing sector.
“The amendment to this act will give more priority to the welfare of home buyers, while strengthening developer governance, increasing transaction transparency, and ensuring that every housing project is implemented more responsibly and oriented towards consumer protection,” he said.
Meanwhile, commenting on the sector, he said that overall, the country's property market remains resilient in the first half of 2025 as construction activities continue to record growth despite a slight decline in transaction performance.
According to a report by the National Property Information Centre, for the first half of 2025, the number of real estate transactions recorded stood at 196,232, representing a 1.3 per cent decrease.
Transaction value, however, increased by 1.9 per cent to RM107.68 billion compared to the same period in 2024.
-- BERNAMA
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