The financing plan is a critical document to enable RERA to assess the developer’s financial capacity to undertake and complete the project. A template is set out in the website and may be followed by the developer in assembling the financing plan.
The Financing Plan will comprise of a number of documents;
- Completed Finance Plan Template in the form prescribed by RERA.
- Market Research to support the Sales Plan assumptions.
- Percentage of units to be sold Off-Plan before the Development will commence
- Details of any Loan Financing including, committed Loans and uncommitted loans.
- Supporting letters from Financing Banks confirming loans.
- Details of the Equity Investment (Developer own Funds) to be invested into the project.
- Guarantee Letter from the Developer that the Equity Funds will be invested in the Project.
- Certification of the Financing Plan by the Development Company’s Auditors
The template may be accessed on the website.