Malaysia Real Estate

[tandemania]

I have been googling and searching for some answers but unable to find who are the Blacklist Property Developers. Can someone please furnish me some answers?
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1,345 developers blacklisted
2010/02/09


DENGKIL: Housing and Local Government Minister Datuk Seri Kong Cho Ha said 1,345 developers and more than 5,000 directors of such companies involved in problematic projects have been blacklisted.
Kong said this did not only involve housing projects that were abandoned but also involved those that were not completed on schedule.

"Apart from being blacklisted, many developers were also fined for not conforming to the Housing Development Act, including not preparing reports on schedule, especially work progress reports every six months," he told reporters after visiting the abandoned Putra Intan Condominium project here yesterday.

The project that was initially supposed to have been completed in 2005 was abandoned and later taken over by another developer who is expected to complete work in eight months.

Kong said according to statistics, there were 135 abandoned housing projects in the country but some were being revived by corporate organisations.

Though the figure was not high when compared with 18,000 housing projects nationwide, it would not be fair to house buyers.

"For every developer, starting a new housing project is a new business. So, if they understand their responsibility as a developer and follow the agreement, they must complete the projects according to the dates set," he said.

Kong added that the government also encouraged the build-then-sell concept to safeguard the interest of the buyers but not all developers could afford to do this.

"If we implement the concept 100 per cent, the property market or developers will be more or less limited to only the very big boys, which would lead to a situation whereby they can monopolise the market and it's not good for the consumer. -- Bernama

[rollsroyce]

[tkc]

there are just too many blacklisted developers. maybe start with the top 5 developers you think are the worst from the list.
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If you couldn't afford to buy the property, buy the developer.
tkc

[beekay]

One property developer comes to mind: TALAM
Beware now TALAM has been rebranded under IJM Properties. So buyers beware of IJM Properties, may be a TALAM underneath.

[Daryl Teo]

Recently i went around Puncak Jalil built by the erstwhile Talam, with a friend just to poke around. Seems that prices there have also picked up with sgl storeys selling at 200k & dbl storeys at 270k in PUJ 7 & 9 (the phases closest to Kinrara). But would still go for the older phases in Kinrara, given Talam's shoddy workmanship, that'll probably need another 50k improvement costs & leasehold status which needs a min of 6 months min (i was told 8 months on average) to obtain consent if u sell, which adds to your time cost.

I think some buyers were lured in by the relatively lower price point without giving thought to the after acquisition improvement & time costs eventually.
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Buy land, they're not making it anymore.
Mark Twain

[beekay]

You are right Daryl.