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PR1MA Buyers Will Not Receive Late Compensation Fee

Professor Dr Ismail Omar, Lecturer in Real Estate, Universiti Tun Hussein Onn Malaysia

17-Feb-21 18:00

PR1MA Buyers Will Not Receive Late Compensation Fee

Some PR1MA public housing projects that were scheduled to be completed January 2020 have seen delays up to April 2021. Under the Covid-19 Act, developers are exempted from the need to compensate buyers for this delay, causing added distress to an already bad situation. We speak to Prof Dr Ismail Omar for his insights.

Update:

After this story was broadcast, we received an official statement from PR1MA Corporation Malaysia with details on the completion rate of the Residensi Tebrau project, and the status of LAD payments. You'll be able to find it here.

Image Source: Hendrik Will, Unsplash

Produced by: Tasha Fusil

Presented by: Lee Chwi Lynn, Sharmilla Ganesan


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Tags:  Evening EditionSocial IssuesPolicy and GovernanceHousingLiquidated Ascertained DamagePR1MAGovernment/Regulatory/Policy MakingProperty, Real Estate, ConstructionPolitics, News, Current Affairs


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