GEORGE TOWN, Jan 30 — Hundreds of homebuyers left in limbo for years can finally see an end to their ordeal after the Penang state government appointed Mah Sing Group to rescue two abandoned affordable housing projects in Balik Pulau.
The two projects, Sri Bayu and Quinton, with a total of 625 units, were 70 to 80 per cent complete before being abandoned after the original developer faced financial difficulties.
For buyers like Nurzaim Zainudin, 34, the news is a long-awaited relief.
Over seven years, the factory worker has been working a second job selling coffee at night to cover his RM1,400 monthly housing loan for a unit he bought in 2019, all while still paying rent for his family's current home.
“I am happy with this, but I am still cautious until we see the project actually continues because we have been waiting for so many years,” he said, adding that some buyers in their community have even suffered mental health issues due to the prolonged stress.
At a signing ceremony today, Penang Chief Minister Chow Kon Yeow announced that Mah Sing Berhad will act as the financier to complete the projects, while Baker Tilly Insolvency PLT has been appointed as the liquidator to manage the process.
Mah Sing Group CEO Datuk Voon Tin Yow said they hope to complete both projects by the end of this year.
However, state executive councillor for housing, Datuk Seri S. Sundarajoo, warned that the process would take time, as the abandoned units had been vandalised, with wires, cables, and other fittings stolen.
Another buyer, K. Harinath, 33, who has been paying a RM310 monthly loan for his RM52,000 Sri Bayu unit since 2019 while also paying RM600 in rent, shared Nurzaim's cautious optimism.
“I am slightly relieved that finally the project will continue, but I will only fully enjoy the moment when I receive the keys to the unit,” he said.
