KUALA LUMPUR — More than 1,500 sick and abandoned private housing projects nationwide have been successfully revived by the Ministry of Housing and Local Government’s (KPKT) special task force from 2023 to May this year.

Housing and Local Government Minister Nga Kor Ming said the recovery efforts involved 1,576 projects comprising 188,525 housing units, with a total estimated gross development value (GDV) of RM148.21 billion.

He said the achievement reflected KPKT’s continued commitment to strengthening the nation’s housing sector through the Task Force on Sick and Abandoned Private Housing Projects (TFST), which was established in 2023.

According to Nga, the effectiveness of the task force can be seen through the revival of the landmark M101 Skywheel development project, which was previously stalled due to the impact of the Covid-19 pandemic and financial constraints but has since been successfully rescued.

“The revival of this project reflects broader national efforts led by KPKT to address the issue of abandoned housing developments and safeguard the interests of homebuyers,” he said when officiating the groundbreaking ceremony for KL360 here today.

On the M101 Skywheel project, Nga said its earlier suspension had affected 337 purchasers, involving Sale and Purchase Agreements (SPAs) with a combined value exceeding RM306 million.

He said GD Properties subsequently stepped in as the white knight developer to revive the project, which has since been rebranded as KL360 @ Menara GD, after taking into account both the development’s potential and its responsibility towards affected buyers.