PPAM contract terminations to impact more developers: Report
KUALA LUMPUR (March 9): More Malaysia Civil Servants Housing Programme (PPAM) projects are “expected to be either put on hold or shelved”, reported The Edge Malaysia in its latest issue.
A source told the weekly that Protasco Bhd has been informed by Putrajaya Corp (PjC) (the project owner of PPAM in Putrajaya) to “temporarily postpone” development.
It was reported on Feb 27 that Damansara Realty Bhd announced that PjC had terminated a contract to develop 1,350 residential units and 45 commercial units with a gross development cost of RM467.3 million in Precinct 5 of Putrajaya.
Damansara Realty announced that the termination “was due to the government’s move to unify the development of affordable homes under the Ministry of Housing and Local Government”.
Developers contracted to construct PPAM homes include Ahmad Zaki Resources Bhd, Hap Seng Consolidated Bhd, Iris Corp Bhd, Zecon Bhd, LBS Bina Bhd and Spring Gallery Bhd.
“The level of progress of these projects could not be ascertained,” wrote the business publication.
https://www.azrb.com/copy-of-2016 Puncak temala PPAM project already come to completion phase and already 80 percent sold. No point to cancel the project now
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