10 September 2012 | last updated at 08:14AM
Hot demand for Felda LBJ homes
By MAIZATUL RANAI
NEW LEASE OF LIFE: Abandoned properties belonging to ex-millionaires snapped up by investors
One of the bungalows in Felda L.B. Johnson in Seremban that was partially built and abandoned by its owner. Pic by Amirul Nubli Wan Ahmad
SEREMBAN: THE abandoned houses in Felda L.B. Johnson (LBJ), here, are rotting reminders of the once "instant" millionaires.
The properties, which were left unoccupied for years, are seeing new lease of life.
In 1996, 504 Felda LBJ settlers received a windfall when their land was bought over to build the state's technology corridor in a joint venture project between the Negri Sembilan State Development Corporation and Tabung Haji.
The payout was RM47 million, in which each settler received between RM1.2 and RM1.4 million, depending on the size of the land.
Most of the settlers owned between 2.8ha and 4.4ha of land, in which almost all of them cultivated rubber trees and oil palm for a living. The price paid for 0.4 ha was RM174,240, or RM4 per sq ft. Close to 1,836ha were acquired for the project.
Apart from being coaxed by salesmen into buying new cars, most of the settlers built enormous houses, with some equipped with pools and landscaped gardens. Checks by the New Straits Times in February saw about 10 houses left abandoned, while 20 others were partially built.
It is believed that some of the settlers could not afford to pay the huge electricity and water bills.
Some became victims of investment scams and faced longstanding legal battles because they had no money left to complete the construction of the houses. As the settlers depended on rubber and oil palm, they had to find other sources of income to make ends meet.
Most worked as security guards while some started their own businesses or set up stalls at night markets, but their monthly earnings were not enough to pay for the maintenance of the houses. However, NST's latest check last Wednesday revealed that most of the houses are now being sought after.
Thanks to Menteri Besar Datuk Seri Mohamad Hasan, development in the area had drawn many people looking to rent, buy and restore the houses, which had fallen into a state of disrepair. Husin Alias, the son of one of the settlers who received the windfall, said many of the houses were left unoccupied over the years as almost 80 per cent of the settlers had died.
"Most of the settlers built the houses from the windfall money. When they died, either their children took over the houses or abandoned them, which is a waste considering the value of the house could fetch millions," said the 52-year-old guard.
However, he said many people, mostly working at the Kuala Lumpur International Airport, some 30 minutes away, had started renting some of the houses. "A few bought the houses to live in or as an investment as they see a rise in the value of the houses in the next few years."
Rosnah Nordin, 46, said she had been receiving a lot of enquiries from outsiders, asking if there were houses for sale or rent. "Almost all the houses had been rented out so they went home disappointed.
"Many people have started seeing the potential value of the houses," she said.
