How to choose a credible developer
Choosing the right property developer is the most important step one need to pay attention to before investing in a property.
The Malaysian Ministry of Housing and Local Government releases an annual list of problematic and blacklisted property developers in Malaysia. The list categorizes blacklisted developers into four groups based on their offenses, which include operating without a license, failing to honour buyers' tribunal claims, failing to pay their compounds, and being involved in abandoned projects. It is crucial to avoid these developers to prevent losses in property investment.
While the blacklist is a helpful reference, it is not the sole determinant of a reputable and responsible developer. To help you choose a good developer, here are five indicators to consider:
First, check their track record by researching the feedback and comments on their previous projects.
Second, consider their reputation, including their ability to deliver the project and handle the purchasing process and after-sales service, as well as their professional recognition and awards.
Third, look into their financial background to avoid abandoned projects caused by financial problems. Buying from a public listed developer allows easy access to financial reports.
Fourth, evaluate the developer's ability by examining their past and current project scale. For example, UDA Property has been a trusted developer with various project scale, from small to mega projects over the years. Information about UDA Property projects are easily available online for you to do your research and find out about our ability.
Finally, check the developer's website for legitimate information on their history, organization chart, completed and ongoing projects, as well as awards and recognitions. A transparent and confident developer is less likely to be unreliable.
Being more than 50 years in the real estate industry, UDA Property is not only highly experienced, but also credible and backed up by the relevant authorities to ensure that we will never back away from any project and will always deliver our best to our customers.