Documentation
Sale Stream
The Sale Stream models development-for-sale projects where units are sold upon completion — Residential Towers, Landed Properties, Commercial Strata (Office & Warehouse), and Mixed-Use developments. Work through the components in order; each step builds on the previous one.
1. Development Financials
Start here. Define your project location, building type (Residential High-Rise, Landed, Commercial Strata), configuration, construction costs, soft costs, and land acquisition. The system auto-selects configuration forms based on your building type choice.
Asset-specific steps adapt to your building type (e.g., tower floors for high-rise, unit count for landed, infrastructure costs for landed developments).
2. Sales Revenue
Model your sales strategy including saleable BUA ratio, average sales price per sqft, payment plans for cash buyers and mortgage buyers, sales uptake schedule (front-loaded, even, or back-loaded), buyer mix, and deductions (VAT, commissions, discounts, defaults).
Revenue drivers vary by payment structure — down payments, progress payments during construction, and handover payments. The component generates monthly cash inflow projections aligned with construction progress.
3. Project IRR
Review unlevered project returns before financing is applied. This read-only component shows NPV and Project IRR calculated on pre-financing cash flows from Components 1 and 2, using the full development timeline including the post-completion collection period.
For sale developments, the model typically runs ~36 months with no terminal value — returns are driven entirely by development costs versus net sales proceeds.
4. Residential Financing (Sale)
Configure debt tranches (LTC/LTV ratios), land equity contribution, preference shares, escrow withdrawal rules by jurisdiction (UAE RERA, Malaysia HDA, Australia 10/90 rule), drawdown structure, and interest/IDC treatment.
The engine uses a dynamic gap-fill mechanism to determine equity requirements and links financing draws to your development schedule and escrow-regulated sales proceeds.
5. Project IRR (Levered)
Review levered equity returns after financing from Component 4. Compare unlevered Project IRR with levered Equity IRR, equity multiple, and payback timing — demonstrating the effect of financial leverage on your returns.
Preview pages include visual charts showing monthly net cash flow and cumulative equity position over time. For sale developments, payback typically occurs near the end of the project (M30–M36).
6. Scenario Analysis
Stress-test key drivers specific to sale developments — Sales Price/GDV, Sales Velocity, Pre-Sales Achievement, Construction Cost, Soft Costs, Construction Duration, LTC Reduction, and Interest Rate.
Compare base, upside, and downside cases side by side. The Tornado Chart ranks drivers by impact on Levered Equity IRR, helping you identify which assumptions matter most for project viability.