KUALA LUMPUR, Aug 10 — The Housing and Local Government Ministry (KPKT) has resolved 1,647 “sick” and abandoned private housing projects worth RM153 billion, benefiting nearly 200,000 homebuyers to date, said its minister Nga Kor Ming.
This achievement was due to the efforts of the Special Task Force on Sick and Abandoned Private Housing Projects, established in January 2023 to address the issue and deliver a significant impact to the public.
He said that KPKT is targeting zero abandoned housing projects by 2030 as part of the national housing sector reform agenda, supported by several mechanisms.
“These mechanisms include the Housing Integrated Management System, Transforming and Empowering Data Usage in Housing, the electronic Sale and Purchase Agreement, periodic audits of the Housing Development Account, and the Option to Purchase (OTP), which will be introduced later this year,” Nga told the media after launching the National Housing Policy (DRN) 2026-2035 today.
Also present were Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar, Attorney-General Tan Sri Mohd Dusuki Mokhtar, and KPKT Secretary-General Datuk M. Noor Azman Taib.
He added that the OTP mechanism allows developers to withdraw from proceeding with a project within a specified period if sales are sluggish and the project is deemed likely to fail, with buyers receiving a full refund of their deposits.
Simultaneously, buyers will have the right to withdraw within a stipulated period, subject to payment of administrative charges or interest to the developer.
The mechanism is expected to reduce the number of abandoned projects while safeguarding consumer interests and the sustainability of the national property industry.
Meanwhile, Nga said the government aimed to build one million affordable homes over 10 years under the 13th Malaysia Plan (13MP), with the target based on actual housing needs and demand determined through big data analytics.
Artificial intelligence (AI) technology will also be used to identify suitable locations, housing types, and price ranges.
On home ownership, he said Malaysia’s home ownership rate currently stood at 77 per cent, compared with 42 per cent in Germany, 65 per cent in the United Kingdom, and 66 per cent in the United States.
The government has allocated RM40 billion through the Housing Credit Guarantee Scheme to assist first-time homebuyers purchasing properties priced up to RM500,000, including gig workers, entrepreneurs and small traders without fixed incomes.
To date, approximately RM18 billion remains available under the scheme, with 17 major financial institutions having agreed to serve as strategic partners.
About 95,000 individuals, including those from the B40 group, have benefited from the scheme. Eligible applicants are Malaysians aged 18 and above purchasing their first home valued at no more than RM500,000.
Earlier in his speech, Nga said the National Housing Policy (DRN) 2026-2035 reflected the MADANI government's commitment to ensuring that every citizen had access to quality, affordable housing that supported their well-being.
“Quality housing is not merely about providing shelter; it serves as the foundation for building prosperous families, harmonious communities and sustainable national development,” he said.
The DRN 2026-2035, themed 'Humanising Housing', shifts the focus of housing development from merely building houses to creating high-quality, safe, inclusive, sustainable, and liveable communities to enhance people’s well-being.
