CHAPTER 9 Raising development finance

Finance is the key to most property developments. Almost all developers need it, as the capital requirement of most developments is usually significantly greater than the developer's own equity. Developers need a range of funding at each stage in the development process, including seed capital for development approval, land finance to secure the land, construction finance for implementation, and long-term finance to hold and operate the development.

Regardless of its location, design and pre-sales, the development will not proceed without finance, and the financing package must be in line with the development's roll-out. Not only must the loan rate and terms fit the project, but the terms and conditions ...

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