Bridging Financing-i

  • Purpose to finance land acquisition and construction cost of residential / commercial development
  • Maximum tenure up to 6 months after the project completion date
  • Shariah concept Tawarruq'
  • Margin of financing:
    • up to 50% from the land purchase price
    • up to 40% of the total development cost
    • up to 60% of the total gross development cost
  • No early settlement fees
  • Protection against rise in financing profit rate through ceiling profit rate
  • No compounding profit
  • Compulsory rebate (ibra') for early settlement
  • No commitment fees for unused amount
  • Competitive profit rate
  • Private Limited Companies
  • Public Limited Companies
  • Cooperatives
  • Approval from the relevant authority on proposed development
  • Copy of Sale & Purchase Agreement of project land
  • Feasibility and marketability study on proposed development
  • Past track record
  • A valuation report of project land to be charged as security
  • List of consultants & contractors