Property investment firm's rego nixed

The Building Services Board has refused to renew FTD Construction’s registration after the industry watchdog raised concerns about the Perth property developer.

Last week the Building Services Board refused to renew the property investment firm's building contractor registration following an investigation by Building and Energy WA.  

The Balcatta-registered company, known as Fulfill The Dream Developments, describes itself as the “fastest growing property investment firm”, according to its website.

The business is run by self-proclaimed Perth millionaire Ricky Hirsch, who claims to have expanded his business footprint nationally.

The developer claims to have sourced 328 properties with a development value of $176 million.

It has development projects in Scarborough, Doubleview, Duncraig among other Perth locations.

According to the industry watchdog, the board was not satisfied that FTD Construction met the financial requirements for building contractor registration.

The board was also not satisfied the company had arrangements to ensure the proficient management and supervision of building services it was carrying out.

The move enables homeowners who have worked with the company to make a home indemnity insurance claim for incomplete or defective work.

Building and Energy Executive Director Saj Abdoolakhan said people with contracts should contact HII to discuss arrangements.

“A key function of the Building Services board is to assess applications for registration and renewal to ensure that only those building service providers who meet the requirements are registered,” he said.

“The registration and renewal process provides important consumer protection and bolsters confidence of all participants in Western Australia’s building and construction industry.”