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Loan to promoters

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This product is meant for corporates who intend to develop land for the construction of morcellements or apartments to be sold to individuals.

Purposes

  • Construction of residential apartments, houses or bungalows¬†
  • Purchase of residential land and construction of residential complex

Eligibility

Individual Promoters, Companies or Sociétés legally authorised to undertake residential developments.

Features

  • Loan Amount: based on project costs¬†
  • Interest Rate: fluctuating with the Repo Rate¬†
  • Maximum Repayment Term: 5 years - Negotiable for longer periods.¬†
  • Mode of Repayment: partly from sale proceeds or as per terms and conditions
  • Security: Charge/Mortgage on residential complex

* Conditions apply.

Documents

  • Proof of identity of promoter/s and representatives of promoters:
    • Birth Certificate/s
    • Identity Card/s
    • Statut de la Soci√©t√©
    • Certificate of Incorporation
    • Shareholding Structure
  • Other documents:
    • Title Deed
    • Memo of Survey
    • Architectural and Engineering Plans of Residential Complex
    • Development and Building Permits
    • Feasibility Report amongst others: value of land/ property, cost of project, project funding, projected cash flow, project duration, marketing plan and past experience of promoter
    • Last audited accounts of promoter
    • Bank Account statements for last 12 to 24 months and Income Tax Return for last 3 years.

Note: Any other required details will depend on the profile of promoter/s.

Purposes
  • Construction of residential apartments, houses or bungalows¬†
  • Purchase of residential land and construction of residential complex
Eligibility

Individual Promoters, Companies or Sociétés legally authorised to undertake residential developments.

Features
  • Loan Amount: based on project costs¬†
  • Interest Rate: fluctuating with the Repo Rate¬†
  • Maximum Repayment Term: 5 years - Negotiable for longer periods.¬†
  • Mode of Repayment: partly from sale proceeds or as per terms and conditions
  • Security: Charge/Mortgage on residential complex

* Conditions apply.

Documents
  • Proof of identity of promoter/s and representatives of promoters:
    • Birth Certificate/s
    • Identity Card/s
    • Statut de la Soci√©t√©
    • Certificate of Incorporation
    • Shareholding Structure
  • Other documents:
    • Title Deed
    • Memo of Survey
    • Architectural and Engineering Plans of Residential Complex
    • Development and Building Permits
    • Feasibility Report amongst others: value of land/ property, cost of project, project funding, projected cash flow, project duration, marketing plan and past experience of promoter
    • Last audited accounts of promoter
    • Bank Account statements for last 12 to 24 months and Income Tax Return for last 3 years.

Note: Any other required details will depend on the profile of promoter/s.

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