Project Monitoring for companies
CONTROL OF DEVELOPMENT PROJECTS TO MINIMISE FINANCIAL RISKS
Property developments are complex projects requiring adequate coordination of costs, timelines, authorisations, contracts with suppliers, etc. Tinsa Certify has a team specialised in the control of all of these variables from different phases of the real estate business process, from purchasing the land to completing a development. Monitoring guarantees the contributed funds are effectively allocated to the execution of the work, thus minimising the financial risks of the project, whether they be in planning or construction.
The service starts with the preparation of a preliminary report, which analyses the feasibility of the operation from a technical, legal, planning, economic and market standpoint, and identifies any current and potential risks. The client is promptly informed of project progress through regular reports. Subsequently, through periodic reports, the client is informed of project progress.
WHO IS IT FOR?
MORTGAGE BROKERS FOR PROJECTS OF ALL SIZES.
INVESTORS RISKING REAL ESTATE FINANCING OR NEEDING TO CONTROL THEIR INVESTMENTS.
REAL ESTATE MANAGEMENT COMPANIES
1. THE SITUATION.
The construction company building the property development of one of our clients entered into bankruptcy proceedings. The project was 98% sold and the quantity of work completed was close to 75%. The risk of stoppage of work due to failure to pay providers (and cancellation of sales) was evident. Thanks to the monitoring being performed by Tinsa Certify on the availability of the loan through the Project Monitoring service, it was possible to act quickly.
2. OUR SERVICES.
TINSA CERTIFY proposed a change in strategy for monitoring of the development. It increased control of subcontracts, personnel, and construction suppliers. The last monitoring report issued made it possible to inform the financial institution and the developer of the relative state of the company’s executed and outstanding payments.
3. THE RESULT.
After several meetings with the participants of the development, new conditions and criteria for monitoring the provisions of the loan were established, which allowed them to continue and complete the work without causing harm to either the financial institution or the end user of the property.