Pledge to Plaza Rakyat buyers

http://www.thestar.com.my/News/Community/2...ests-will-be-l/

PURCHASERS of the abandoned Plaza Rakyat project in Jalan Pudu have been assured that their investments will be returned either in the form of new units or cash payments.

Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor said the matter would be solved at the end of the month when the government awards the contract to develop the place to the new developers.

“We hope to solve it by the end of the month after we make the award.

“The new developer has been told it must uphold the interests of Kuala Lumpur City Hall (DBKL) and the buyers. We will make sure they do so.

“Apart from the need to revitalise the project, we have always been concerned about the rights of the buyers,” Tengku Adnan said.

“If the buyers want cash, the developer will make sure they get their money back, and if they want units in the new development, they will get that.

“Please have faith in the Government,” he stressed.

Last week, StarMetro reported that DBKL had taken vacant possession of the site.

Excited over the news, several buyers had called the newspaper saying they wanted the Government to ensure they received the units they purchased decades ago.

A total of 221 business lots were sold 20 years ago when the project was launched.

Today, there are about 200 buyers, many now in their twilight years, who had invested their life savings in the Plaza Rakyat project.

In 2011, about 20 buyers lodged police reports at the Tun H.S. Lee police station demanding compensation and refund of their downpayment for the abandoned project.