Project Monitoring
What is Project Monitoring?
THIS TOOL ALLOWS US TO KNOW HOW THE AMOUNTS WITHDRAWN FROM THE DEVELOPMENT LOAN ARE USED IN ORDER TO GUARANTEE THE COMPLETION OF THE BUILDING WORK OF A SPECIFIC DEVELOPMENT, SUPERVISING THAT THE LOANED FUNDS ARE USED APPROPRIATELY
The Project Monitoring is based on the analysis and control of the project, from the very start to its completion and, from an administrative, technical and financial point of view.
We prepare a first report that includes all the costs and expenses of the development, from buying the land to handing over the keys, and then issue follow-up reports on the progress of the building work and the sales rate to keep track of the project’s cash-flow. We aim to ensure that there are always sufficient funds to complete the development, identifying the amounts and items that require financing and those that will be paid out of the client’s own funds.
By monitoring the process we will have a tighter control of the viability of the project and a tool to manage risks and help take decisions.
The purpose of the reports issued by GLOVAL is to help trace the use of each credit withdrawal, to make sure that it is used for the relevant development, allowing payments to suppliers and other agents involved for what has really been delivered and controlling that any invoice received adjusts to reality.
Who needs a Project Monitoring?
THIS TOOL IS REQUIRED BY THE FINANCIAL ENTITIES AND INVESTORS AND IS FOR INDIVIDUAL DEVELOPERS OR LARGE OR SMALL PROPERTY DEVELOPERS
Any legal person linked to the property development world, from an individual developer to large property developers. More and more financial entities demand Project Monitoring to supervise and keep track of every credit withdrawal during the development, ensuring that the withdrawals are being paid to the right person and not used for other items outside the development.
Our Project Monitoring role strengthens the trust between the developer and its investors, financial backers, suppliers and future buyers, allowing the development to unfold smoothly, in time, pointing out any unjustified delays and avoiding unexpected costs that might jeopardise the completion of the development.
What makes Gloval different?
WE ARE A LOCAL TEAM OF EXPERTS WITH EXTENSIVE EXPERIENCE THAT ACTS WITH PRECISION AND SPEED
We prepare the report and follow up the development through our local experts who visit the building sites and know the building particularities of each place as well as the usual costs in the area.
Also, we rely on a multi-disciplinary team who is always willing to help by proposing solutions for any incident that may arise during the monitoring.
GLOVAL is a company with great experience in monitoring. It works with tight deadlines and precision without interfering with all other processes or the building work.
What makes Gloval different?
WE ARE A LOCAL TEAM OF EXPERTS WITH EXTENSIVE EXPERIENCE THAT ACTS WITH PRECISION AND SPEED
We prepare the report and follow up the development through our local experts who visit the building sites and know the building particularities of each place as well as the usual costs in the area.
Also, we rely on a multi-disciplinary team who is always willing to help by proposing solutions for any incident that may arise during the monitoring.
GLOVAL is a company with great experience in monitoring. It works with tight deadlines and precision without interfering with all other processes or the building work.
How do we do Project Monitoring?
WITH SPEED AND CONTROL FROM THE MAIN OFFICES AND FROM THE ACTUAL BUILDING SITE
GLOVAL monitors the process swiftly and efficiently from its main offices and through its local experts who know the building particularities of each area. We prepare a First Report that reflects all the potential costs of the development, from buying the land to handing over the keys. We then issue other reports during the development to show the progress made and the sales rate to keep the project’s cash-flow under control.
1. Order
Tell us your needs by filling in our form.
We will analyse your order and once you approve our quote, we will assign you a technical team and ask you for the documents we need to prepare the first report.
2. Then we get started
Once the first report is issued and the financing approved, our technical team will contact you and arrange a date to visit the property to make all the checks that are necessary for the monthly follow-ups.
3. Your report
We will prepare the report (first report or follow-up reports) with a multi-disciplinary team that will analyse the project from an administrative, technical or financial point of view.
4. Delivery
We will then send you the report (first report or follow-up reports) and will remain at your disposal for any doubts you may have.
If you’ve been granted a green loan, Gloval has a partnership with Green Building España and specialises in this service.
Frequently Asked Questions
On the one hand, the interim certificate is a certificate signed by the Site Manager. During an appraisal, we also refer to the interim certificate as the intermediate appraisal of the development to check its progress. Nevertheless, neither of these go as far as the Project Monitoring where we analyse the development from an administrative, technical and financial point of view.
Yes, although this should be improved. At present, these are two different documents used for two very different purposes. The first controls and warns about deviations in the project, whereas the interim certificate is still used for stage payments to the developer. We suggest you ask your bank about this.
Legal documents related to the property, technical documents related to the project and financial documents related to estimated costs, expenses and revenue, among other aspects.
They trust us
Let’s have a chat
Share your concerns with us by filling in our form and we will contact you so that you can tell us all about your requirements.
