Abandoned project set to be completed by early next year
23/03/2007 The Star By Yip Yoke Teng

THE Kuchai Square project in Kuchai Jaya, off Jalan Kuchai Lama, stalled since four years ago, finally sees a ray of light.

With an allocation of RM8mil, the project's new developer LCK Realty Sdn Bhd will continue building the eight-storey structure, which is scheduled to be completed early next year if everything goes smoothly.

However, purchasers will have to pay an additional 10% of the price of their units.

It is learned that all purchasers contacted have agreed to this.

The building consists of 32 shop units and 160 office units priced between RM138,000 and RM570,000.

The previous developer was unable to proceed when the building was already 95% complete, due to financial difficulties.

According to LCK Realty's lawyer Dhanaraj Sivasampu, the building had been reduced to only 80% complete due to theft, vandalism and the need to replace and repair existing materials.

“Works started two months ago and should complete in six months,” he said when announcing the revival of the project.

Purchaser Low Say Hock, 53, hoped the project could carry on without any hitches.

“We have settled all the payments, hopefully there will be no more problems.”

All direct and contra purchasers are also invited to attend a meeting today at 2.30pm at the office of Horwath (receiver and manager), Level 16, Tower C, Megan Avenue 11, 12, Jalan Yap Kwan Seng.