Business

Saturday July 18, 2009

Still paying loan but no apartment


CIVIL engineer, Mahyuddin Zahia (pix), 38, is still paying RM300 per month for a loan taken out for an apartment he has yet to receive.

To date, he has paid over RM20,000 for the medium cost apartment he bought nine years ago which has been abandoned.

Juta Permai (M) Sdn Bhd, the developer of the 760 units of Damai apartments in Subang 2, Shah Alam, was supposed to complete the project and hand over the units to the buyers in 2003.

“About 253 buyers were fed up with the long delay and decided to sell back their units to Juta Permai for some money that was less than 10% of the unit cost,” he says.

According to Mahyuddin, Juta Permai last year sold 23.29 acres of land near the Damai Apartments to a local university for RM20.29mil.

“They have promised to revive the project in May and complete it by year-end after receiving the payment from the sale of the land near our housing project,” says Mahyuddin. Again, little has been done. “Each time we approach them, they tell us that they are going to revive the project.”

The Subang 2 Bandar Pinggiran Subang Buyers’ Action Group’s committee, which was set up in 2003, has tried to approach all the parties including the bank, the Housing Ministry and media to resolve this issue but with little progress. “We have run out of ideas on what else we can do to ensure the completion of the project,” says Mahyuddin.

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