HBA urges 'incapable' developers to leave the industry

The National House Buyers Association has advised the developers who can't complete their housing projects in time and in accordance with sales contracts to leave the industry.

"HBA finds in laughable that certain parties can claim that the decision of the Federal Court is detrimental to the housing industry and can cripple the building of new properties," it said. The lawyer pointed out that some highrise condominiums could not be completed within 36 months and developers ended up paying damages to buyers for late delivery.

HBA said it welcomes the decision of the Federal Court that the Controller of Housing has no power to unilaterally extend the deadline for developers to complete their housing projects.

You must be all jokers, on the contrary can ill-informed house buyers leave house buying markets? They must do homework if they are speculators then unbeknownst to such situation is unacceptable.

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