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Residential development

The details

Maximum commitment


Minimum commitment


Usual commitment period

1 year to 18 months

Debt Commitment Value (CTV)

Senior debt available up to 50% of gross development value.

Mezzanine debt available up to 65% of gross development value.

Percentage of costs

Negotiable, but generally within the overall debt CTV limit, we will fund up to:

  • 100% of development costs
  • 100% of interest
  • Balance of facility for site/land costs

Site considerations

Within areas of relatively high employment in the gulf.

Sites to have at least outline planning in place prior to lending.

As a guide, we prefer projects to show a minimum target profit of 20% on costs.


Bank's valuer and surveyor to assess construction costs, development timetable and cash flow prior to drawdown and certify work (usually monthly) throughout the development.

Security to include

  • First charge on property
  • Floating charge (corporate borrowers)
  • Assignment of building contract rights
  • Collateral warranties from major contractors/sub-contractors where necessary
  • Personal Guarantees
  • Life cover

We will also fund all or part of "equity" costs for a share of the profit.

Gulf Investment Bank subscribes to the Banking Code and the Business Banking Code.

We are also a member of the Financial Services Compensation Scheme (FSCS) and are covered by the Financial Ombudsman Service.

A member of staff