Property Development Activity Companies in Malaysia

Property development activity companies in Malaysia are involved in the business of developing, managing and selling real estate properties. These companies are responsible for the construction of residential, commercial and industrial buildings. They also provide services such as property management, marketing and sales.

The Property Development Act 2012 requires all property development companies to be registered with the Board of Valuers, Appraisers and Estate Agents Malaysia. The registration process is simple and can be done online.

Once registered, property development companies are required to comply with the Act and the regulations set by the Board. They are also required to submit an annual report to the Board.

The Property Development Act 2012 provides for the establishment of a Property Development Fund to promote the development of the real estate industry in Malaysia. The Fund is used to provide loans to registered property development companies for the construction of residential, commercial and industrial buildings.

The Property Development Act 2012 also provides for the setting up of a Property Tribunal to adjudicate disputes between property developers and buyers. The Tribunal has the power to make orders for the refund of deposits, the cancellation of sale and purchase agreements and the award of damages.