PUTRAJAYA: Housing Development Account’s (HDA) weaknesses in monitoring and management procedures are among factors identified as contributing to prob...
: Housing Development Account’s weaknesses in monitoring and management procedures are among factors identified as contributing to problematic housing projects.said HDA is under the Housing Development Act , where the law requires licensed housing developers to open and maintain HDA with banks for each project undertaken.
HDA is an account for deposit savings for developers to obtain development licences and financial loans for construction, and to regulate projects from being abandoned. Akmal Nasrullah said the task force for sick and abandoned private housing projects has forwarded improvement recommendations to financial and banking institutions, so that the intent of Act 118 is achieved, and a solution to ensure that HDA management is organised and regulated.
He added that until July 31 TFST had detected and monitored a total of 118 delayed projects , 490 sick projects and 114 abandoned projects .
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