Wong (seated middle) with some of the buyers and liquidators of the project.
KOTA KINABALU: The abandoned 1 Sulaman project could very well be on its way to completion now that a white knight has come to save the buyers from their misery.
Assistant Minister in the Chief Minister’s Department, Datuk Jimmy Wong said a new developer had been engaged to take over and complete the project.
“We are lucky that a white knight has come. The liquidator had done a good job.
“On March 5, they (the developer) will invite the Chief Minister to come to 1 Sulaman and restart the project,” Wong told reporters after a meeting with the liquidators and buyers for the project, here on Friday.
It is understood that the project was initiated in 2009 and was originally supposed to have been completed in 2012 with vacant possession to the buyers.
Unfortunately, the project almost came to a halt in 2011, with only 80 per cent completed.
“We know the grievances and unhappiness of all the buyers…most of them are from the working class.
“They are at a crossroads. At least, now, the new State Government has taken the best effort to solve the
problems,” added Wong.
The initial plan for 1 Sulaman was to establish it as a mixed development project comprising condominium, water theme park, recreational landscape park and serviced suites.
The developer eventually went bankrupt. A liquidator was then appointed to revive the abandoned project.
“Hopefully our Chief Minister will be free on that day (March 5) to give motivation and bring back smiles to the buyers.
“By 2020, you (the buyers) can get your homes,” added Wong.
On December 7 last year, 95 per cent of the buyers had agreed to a Court Proposed Scheme – a scheme where the buyers had agreed to pay an additional RM122 or so per square foot to complete the final 20 per cent of the project.
A court order to allow the project to be restarted was then obtained and a new developer had been chosen to lead project.