“Project abandoned!!”
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In this context, such incidents are very rare until MCO happened. Cost of materials and manpower went haywire during that period and it affected many construction sites.
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“Well just increase price lah!!”
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A few issues with abandoned projects I noticed. One would be sold out projects where the total sales number has been capped. So the construction cost are just gonna eat up the profits to an extend some developers are at a loss just to handover the project in time.
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Another type of project would be those with selling price capped, especially social housing projects. These were never meant to make money in the first place. But ultimately no one would wanna lose money in a business right. So the main contractor instead of completing the project and lose money, they rather stop bleeding and abandon the project.
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The only white knight available would be the government in this case unfortunately. Hopefully there will be a solution soon.
#property #investment #realestate
Негізгі бет Abandoned RumahWIP
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