A luxury waterfront condominium project in Johor Bahru has been classified as abandoned after missing its 2019 completion deadline, leaving multiple Singaporean buyers struggling with ongoing mortgage repayments. Developed by a Singapore-China joint venture, the project has shown no construction progress for more than six months, meeting Malaysia’s definition of an abandoned development.
Singapore Buyers
Johor Bahru has emerged as one of Malaysia’s hotspots for “sick” and unfinished property projects, with 12 delayed condominium developments currently listed. Despite the city’s popularity among Singaporean investors seeking affordable cross-border homes, rising risks in the sector have raised concerns. Johor now ranks among the top Malaysian states with the highest number of abandoned housing projects, behind Selangor and Terengganu.
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