Work to revive Taman Paya Terubong (Majestic Heights Phase 2A) in Penang is expected to be completed by January 2017.
The work on the project, which had been abandoned for 17 years, will start this month by developer PLB Land Sdn Bhd.
Chief Minister Lim Guan Eng said the revival and rehabilitation of the project, which has 342 units, would cost RM18.5mil.
He said the local authorities had issued the commencement of work order on July 22.
Lim was speaking at the ground-breaking ceremony of the revival works at the site recently.
Also present were state Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo, PLB Group chairman Ong Choo Hoon, Bukit Gelugor MP Ramkarpal Singh Deo and Paya Terubong assemblyman Yeoh Soon Hin.
A total 230 of the 311 registered buyers had signed the construction agreement for the revival works to be carried, which includes a contribution of RM10,000 each.
Pro-tem committee secretary Khor Boon Peng said some buyers had not signed the agreement for a variety of reasons.
“Some had stopped paying their bank loans over the years, migrated overseas or had died.
“Some buyers said they are no longer interested in the units.
“We had also received feedback from buyers that banks had ‘lost’ their sales and purchase agreements.
“This may be due to banks which had merged over the years,” he said.
PLB Land senior legal manager R. Thenmathy said the 81 buyers who had yet to sign the agreement, should do so by Nov 30.
“We encourage unit owners to settle the contribution sum as soon as possible,” she said when contacted.
She said that PBL Land would also be developing Phases 2B and 3A in the future.
Housebuyers who need more details on the agreement signing can contact Khor at 016-4969690 or vice-chairman Chee Teng Hooi at 012-4310118.
Inquiries about Phases 2A, 2B and 3A can be made at the My Property Fair to be held from Aug 27 until Aug 31 at Queensbay Mall or call the developer’s office at 04-3905737.
Phase 2A was abandoned in 1998 after its previous owners could not continue the project after the completion of the first phase.
When Phase 2A was abandoned, the physical completion was already at 70%.
The project comprises 342 low medium-cost units, six shoplots and 22 light industrial units.
PLB Land, which bought over the project in 2013, began negotiations with the pro-tem committee early last year, and a final agreement was reached when both parties agreed to the one-time payment of RM10,000 for the rehabilitation and revival of the project. - By The Star