The effects of abandoned projects towards economic development in Sarawak

Increasing temperature and Heat Island (UHI) impacts in cities are the results of climate change and fast economic progress. This is severely hampered by abandoned building projects, especially in Sarawak, Malaysia. The purpose of this study is to investigate the frequency, reasons, and effects of abandoned projects on the economy of Sarawak. The study aims to ascertain the number of abandoned projects in Malaysia, determine the variables that contribute to abandonment in the construction sector of Sarawak, and examine the financial effects of these projects. This study identifies important reasons like financial mismanagement, inadequate project planning, political instability, and unforeseen technical obstacles as the main causes of project abandonment after conducting a thorough analysis of the body of current literature, government reports, and case studies. According to the findings, abandoned projects not only result in large financial losses for stakeholders but also waste resources, erode investor confidence, and impede the development of infrastructure, all of which have a detrimental effect on economic growth. In addition, the presence of unfinished projects raises environmental and safety risks as well as social issues like increased crime rates in the affected areas. The primary data is collected through quest and the SPSS software was used for data analysis.The study's focus on how misallocating cash to abandoned initiatives diverts monies from other viable economic activities further slows the region's growth. Strict project appraisal protocols, effective financial planning, improved governance, and laws intended to revitalize or repurpose abandoned projects are all necessary components of a complete strategy to solve these issues.