Its chief Ng Kian Nam said the developer had sold about 500 units of the rooms at a leading hotel here to the owners since 2009, with prices ranging between RM180,000 and over RM200,000 each including strata titles issued to them.
Under such a scheme, the owner who had bought the property would have to lease it back to the developer in exchange for rental returns. "The developer refused to meet the owners despite numerous attempts made although the former owes between RM50,000 and RM100,000 to each of the purchasers including late interest charges," he said in the statement on Sunday .
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