How many sick and abandoned housing projects has the Malaysian government revived?

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Over 1,500 Sick and Abandoned Housing Projects Revived Nationwide

From 2023 to May of this year, Malaysia's Ministry of Housing and Local Government (KPKT) has successfully revived more than 1,500 sick and abandoned private housing projects. These recovery efforts encompass a total of 1,576 projects, which include 188,525 housing units and represent a combined estimated gross development value (GDV) of RM148.21 billion.
Establishment of the Task Force on Sick and Abandoned Private Housing Projects

The significant progress in reviving stalled developments is attributed to the establishment of the Task Force on Sick and Abandoned Private Housing Projects (TFST) in 2023. This dedicated task force, under the purview of KPKT, has been instrumental in addressing the issue of abandoned housing developments and safeguarding the interests of homebuyers across the nation.
Revival of the M101 Skywheel Project as KL360 @ Menara GD

A notable success story highlighted by the ministry is the revival of the M101 Skywheel development project. Previously stalled due to factors including the COVID-19 pandemic and financial constraints, the project has been rescued and rebranded as KL360 @ Menara GD. This revival involved a comprehensive recovery scheme, approved by purchasers and endorsed by the High Court in 2024, with GD Properties stepping in as the white knight developer.
Impact and Scope of the M101 Skywheel Revival

The earlier suspension of the M101 Skywheel project had affected 337 purchasers, with their Sale and Purchase Agreements (SPAs) totaling over RM306 million. The revived KL360 @ Menara GD, a 61-storey mixed development project with a GDV of RM1.37 billion, is slated for full completion by 2030. It is set to comprise 785 serviced apartment units, 221 office suites, and 20 retail lots.

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How many sick and abandoned housing projects has the Malaysian government revived?

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