Bridging finance is used by developers to build or develop real estate in Dubai, the United Kingdom or in other countries. Bridging finance can be used to fund property development and, in some cases, to purchase the land on which the property will be built. Developers also use bridging finance to consolidate multiple loans if several different lenders have funded distinct phases of a project, making payments more manageable.
Enness brokers international commercial and residential bridging loans, helping developers access competitive finance packages whether you're a seasoned developer or a first-time real estate developer.
If you're a first-time developer - particularly if you are based in Dubai and are developing real estate elsewhere - you may need to anticipate that you will need to put forward more collateral or borrow less than more experienced developer. Borrowing is certainly a possibility if you are a first-time developer, particularly if you have solid finances or a high net worth. However, expect lenders to spend time looking at your plans, ability to oversee the project, your team and how you plan to approach the development to bring it to completion on time and on budget.
Bridging loans for property development always need to be negotiated on an individual basis. Lenders will want to know about your plans, your exit strategy, development costs, the development's location, and the property's existing and future value.
Enness has close professional relationships with all of the lenders in this relatively niche sector. This includes relationships with the institutions that can offer development finance to Emirati nationals, Dubai residents, British expats living in the Gulf and residents of EMA regions to access development finance. Your broker will also be able assist you if you require a financing solution to solve a cash flow or capital problem that has occured during the development of your property.