Project Financing for Real Estate Construction
Financing of Residential Projects for Developers at the Construction Stages
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Up to 70% of the project budget
The bank participates in financing the main part of the project cost
Up to 36 months of financing
A flexible financing term with a grace period option
Escrow and construction monitoring
Phased financing with construction progress monitoring
How can I get a credit limit?
Submit an application
A manager will contact you to discuss the terms of investment financing and required documents
Get a decision
Open a current account and sign the agreement via online banking without visiting an office
Finance construction with confidence
Get structured financing for the implementation of real estate projects
Target audience
Legal entities — residential real estate developers
Purpose of financing
Project financing for the construction of residential properties (including integrated non-residential premises) is available only in Tashkent city and the “New Tashkent” area.
Maximum amount
Up to 70% of the project cost
Financing term
Up to 36 months
Grace period
Up to 24 months
Borrower’s contribution
At least 30% of the project budget
Pre-sales
For projects in the city of Tashkent and in the “New Tashkent” area — from 20%
Collateral
Movable and immovable property, property rights, guarantees, deposits, and other forms of collateral
Currency
UZS, USD / EUR are also available.
Financing mechanism
Phased financing within the construction project
Disbursement of funds
Based on the construction schedule, completion certificates, and payment list
Source of financing
The bank’s own and borrowed funds
Flexible approach to the interest rate
The interest rate is set individually depending on the characteristics of the project
Regarding the applicant / project initiator:
- Must be a legal entity;
- Must have the minimum rating required to carry out construction activities;
- The project initiator or its founders must have at least one completed real estate construction project in their portfolio with a usable area of at least 10,000 sq. m. In this case, the following documents must be provided:
- construction history certificate;
- construction contract;
- commissioning certificate.
- The project initiator and/or its affiliated companies (SPV) must have all necessary construction permits in accordance with legislation;
- Documents предусмотрed by Resolution No. 200 dated April 20, 2022 must be provided;
- All obligations to consumers must be fulfilled;
- Must not be involved in legal disputes with consumers;
- The project initiator or its founders must have at least 2 years of direct construction experience;
- Must not have incurred a loss in the last financial year;
- Must not have negative equity in the latest annual financial statements;
- Must timely fulfill financial obligations to Ipoteka Bank and other banks;
Regarding the project:
- The residential complex must be registered on the platform of the Ministry of Construction and Housing and Communal Services;
- In case of a Special Purpose Vehicle (SPV);
- The land plot must be legally owned by the project initiator in accordance with established procedures;
Regarding collateral:
- For repayment:
- pledge of movable and immovable property;
- third-party guarantee;
- pledge of the initiator’s or third party’s bank deposit;
- pledge of assets financed by the bank together with land plots;
- other forms of collateral not prohibited by law and provided for by internal bank regulations.
- Additional collateral:
- guarantee of the project initiator’s founders;
- pledge of proceeds from future apartment sales and, if available, commercial premises/complexes;
- pledge of shares in the SPV’s charter capital;
Regarding repayment:
- Interest accrued during the grace period is paid starting from the month following the end of the grace period;
- The principal is repaid in equal monthly installments after the end of the grace period.
Fill out the application — and we will find the best solution for you.
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