Kajian pemulihan projek pembangunan kediaman terbengkalai di dalam Wilayah Persekutuan Kuala Lumpur

Abstract

The presence of abandoned residential development projects within Federal Territory of Kuala Lumpur after abrupt recession resulted from Asian Financial Crisis in 1997 present anxiety to various parties including Local Authority, Federal Government and society toward property market in this country. However after economic growth is improving and the property market in convincing the possibility to revive abandoned residential development projects has been on positive side. Developers are encouraged to revive their abandoned development project in order to show Kuala Lumpur as the ‘World Class City’. This research is conducted based on questionnare survey and case studies. It is aimed to identify factors that cause residential development projects to be abandoned and strategies to be taken by developer to revive abandoned development projects. Results shown that incompetent construction and financial management of the developers, financial difficulty as result of Asian Financial Crisis 1997, lack of feasibilities studies, competition of new residential projects, marketing strategies, inexperienced developer, statutories requierement and high pricing are categorized as important factors affecting abandoned residential development projects. Analysis on developer strategies revealed that identification of viability of development project is the most important aspect followed by monitoring and controlling of planning approval, marketing, financial, construction and completion stages to ensure development project completed within stipulated time and cost. Five main factors which are feasibility studies, statutories requirement, construction management, financing and marketing form as basis for the development of conceptual framework for reviving abandoned residential development projects