PETALING JAYA: Buyers of the Desa Aman Apartments in Paya Terubong, Penang, can breathe a sigh of relief as they will finally get their keys on Jan 25.
Housing and Local Government Minister Datuk Seri Chor Chee Heung is expected to handover the keys at a specially organised event soon.
The housing project was abandoned in Dec 2005 after the developer, Binanusa Sdn Bhd, encountered financial difficulties.
The 392 low medium cost units comprising two blocks of 20 and 10 storeys each were about 60 and 10 per cent completed respectively, when it was abandoned.
The developer was wound up in May 2010 and Rimbun Capital was appointed liquidator.
Rimbun Capital principal officer K. Raveendra Kumar said they obtained the consent of the buyers to waive their late ascertained damage claim so that they could rehabilitate the project.
The National Housing Department declared the project abandoned and appointed the Project Rehabilitation Division (PRD) to revive it.
PRD appointed a rehabilitating contractor which started works in June 2011.
The project was completed within 18 months while the certificate of fitness for occupation was obtained in Dec last year.
The revival cost of the project amounted to RM18 million with RM13.6 million being injected into the exercise by the federal government.