Nga said the decision to blacklist these developers was to protect homebuyers’ interests, Bernama reported.

“The move to blacklist these developers sends a clear message that we will not tolerate non-compliance. We are taking strict measures to protect the hard-earned money of homebuyers and ensure that they receive the homes they rightfully deserve.

“House buyers’ safety remains one of the ministry’s top priorities. Developers must adhere to the regulations to ensure that the projects are completed on time and meet the required standards,” he was quoted as saying at an event here.

Nga said the violations committed by these developers include failing to submit development status reports and audit reports, as well as balance sheets and profit and loss statements to the authorities.

He said the developers that had been blacklisted would not be eligible to apply for new licences until they settle the outstanding fines.

Nga also advised homebuyers to check developers’ licence status on the ministry’s website before purchasing properties.