Hassanudin Mohd Thas Thaker

A Discourse on Abandoned Housing Projects (AHPs) and the Potential of Crowdfunding: Malaysian Evidence

Introduction

A discourse on abandoned housing projects (ahps) and the potential of crowdfunding: malaysian evidence. Malaysia's abandoned housing projects (AHPs) pose challenges. This study proposes an Integrated Crowdfunding Model (IAHPCM) to overcome developer financing & boost completion.

Abstract

The surge in housing demand has exacerbated challenges in Malaysia's property market, notably the widespread issue of abandoned housing projects (AHPs). Despite the government and banking sector's continuous efforts to facilitate financing for affordable housing, the increasing number of AHPs indicates economic inefficiencies. Literature identifies developers' financing constraints as a key driver of project abandonment. To address this, our study proposes the "Integrated Abandoned Housing Project Crowdfunding Model (IAHPCM)" as a viable alternative financing solution for developers. This framework aims to mitigate financial barriers and enhance housing project completion rates. The findings contribute to the growing body of literature on crowdfunding while offering practical implications for developers and broader economic sustainability.

Review

This paper tackles the significant and persistent issue of Abandoned Housing Projects (AHPs) in Malaysia, a challenge exacerbated by high housing demand and developers' financing constraints, despite ongoing government and banking sector efforts. The authors propose an innovative solution in the form of the "Integrated Abandoned Housing Project Crowdfunding Model (IAHPCM)" as a viable alternative financing mechanism. This study is highly relevant and timely, addressing a critical economic and social problem within the Malaysian property market and offering a novel, market-driven approach to mitigate financial barriers and enhance housing project completion rates. A key strength of this work lies in its direct engagement with a pressing real-world problem, providing a much-needed alternative perspective to traditional financing models. The conceptualization of the IAHPCM is particularly noteworthy, introducing crowdfunding as a potentially disruptive and effective tool to circumvent the financing barriers often faced by developers. By grounding the discussion in the Malaysian context, the study offers valuable region-specific insights while simultaneously contributing to the broader literature on crowdfunding, sustainable development, and property market inefficiencies. The proposed framework holds significant practical implications for policymakers, developers, and the wider property sector, potentially fostering greater economic efficiency and social welfare through enhanced housing supply. While the proposed IAHPCM offers a compelling alternative, a more detailed articulation of its operational mechanics and contextual considerations would enhance the paper's impact. The abstract mentions "Malaysian Evidence," which, if referring to the *justification* for the model rather than empirical *testing* of the IAHPCM itself, sets a strong foundation for the problem definition. However, a deeper exploration of potential regulatory hurdles, investor protection mechanisms, and the practical challenges of scaling crowdfunding to meet the substantial financial demands of housing projects, particularly those already abandoned, merits further discussion. Future research building upon this conceptual framework could conduct a comprehensive feasibility study, perhaps through stakeholder interviews or pilot analyses, to empirically validate the model's efficacy, assess its scalability, and understand its acceptance within the Malaysian property landscape.

Full Text

Comments

You need to be logged in to post a comment.