Document background
The Master Development Agreement serves as the primary contractual framework for large-scale property development projects in South Africa. It is typically used when undertaking complex, multi-phase developments that require careful coordination between multiple stakeholders. The agreement must comply with South African legislation, including the Construction Industry Development Board Act, National Environmental Management Act, and Broad-Based Black Economic Empowerment Act. It covers essential elements such as development rights, phasing, financial arrangements, regulatory compliance, and risk allocation, while providing mechanisms for project evolution. The document is particularly important in contexts where development will occur over an extended period and requires flexibility to adapt to changing market conditions while maintaining legal certainty for all parties involved.
