We fulfil an independent development monitoring of the project for a party that has a direct interest in the successful completion of a project but who has no direct control over its delivery. We monitor projects at every stage of a development for lenders and their attorneys, investors and funds considering acquisition of assets, real estate specialists ensuring they have a proper understanding of the construction aspects of a project in order to weigh up the risks that might impact their financial models and loans. As a part of Development Monitoring service we provide clients with an advise when costs can be drawn down against the loan facility, as well as on the adequacy of the remaining undrawn loan to cover the forecast cost to complete.
Our service includes:
- Recommendations for mitigation and management of identified risks
- Providing commentary, expert opinion and recommendations contained in initial and ongoing progress report
- Verification of expenditure and approval of drawdowns
- Warning of potential issues and recommendations for resolution
- Expertise of distressed projects and development of recovery strategies