Interim Finance Programme

Under the Interim Finance Programme, the NHT will provide Developers with funding for up to 100% of the construction costs for their development at concessionary interest rates.  This concession must be reflected in the base selling prices of the housing solutions which will be subject to changes based on certified escalation from the agreed base date.  The NHT’s construction loan interest rates is 5%.

The maximum selling prices of housing solutions for which the NHT will give consideration for construction financing are as follows:

  • One Bedroom Unit                             $8,000,000
  • Studio Apartment                               $8,000,000
  • Two Bedroom Unit                             $10,000,000
  • One Bedroom Apartment                   $10,000,000
  • Serviced Lots                                      $3,500,000


In submitting their application for the construction loan, Developers must establish the viability of their housing development by providing information to demonstrate its marketability and their ability to finance at least 25% of the total development costs.  They must also provide documentation to show that all the infrastructure and housing unit designs have been approved by the relevant statutory agencies and the required permit and licenses for the development issued.

Developer’s may submit a preliminary project proposal with sufficient details and will receive a response outlining conditions under which the construction loan would be considered.  After the response, Developers are required to submit a detailed project proposal in a single document, based on the information in the Construction Finance for Housing Projects document which provides more detailed information for submitting application for construction loan.

Preliminary Project Proposal
The preliminary submission should be brief with approximately 3 - 5 pages containing the following information:-

  1. Project name, location, description of the development and project duration.
  2. Preliminary Development Budget in the format shown in Appendix II of the Construction Finance for Housing Projects document.
  3. Completed NHT Developer’s/Contractor’s Pre-qualification Form. This document is also available from the Construction & Development Division of the NHT.
  4. Financial affairs of the Developer - Audited financial statements for the past three (3) years.  For new development companies bank credit reference to be provided for the directors.
  5. Marketing information – market plan, selling price, deposit requirement, target market including affordability analysis, information to demonstrate effective demand for the proposed housing solutions.
  6. Proof of land ownership/possession - A copy of one of the following documents in the name of the Developer to be provided:

a. Certificate of Title,
b. Signed Agreement for Sale
c. Option agreement for purchase of project land.

In addition to the above, the Surveyors Identification report and Valuation report for the project land are to be provided.


  1. Design of housing development - site layout plan, sub-division plan, design of housing unit and status of statutory approvals.
  2. Financing & Security - loan amount required, repayment plan, loan security proposal developer’s equity including source of funding.
  3. Project Management Team - resumes for the project manager, consultants, and contractors.  Basis for the selection of all the members of the team.


a. Visit to the proposed project site will be done prior to the detailed appraisal.  
b. Response will be given within 6 - 8 weeks of receiving the preliminary submission.