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Project Account

A developer with a Sale Licence must open a Project Account with a bank or finance company. All progress payments from the sales of units and loans granted for the construction of the project have to be deposited into this account. The developer can only withdraw monies from the Project Account based on the purposes specified in the Housing Developers (Project Account) Rules.

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View FAQs On Project Account

-	Allowable Project Account Withdrawals
-	Money to be deposited into Project Account
-	Loans to be deposited into Project Account
-	Application of money in Project Account for specified purpose
-	Withdrawal of money in Project Account after TOP

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Last updated on Friday 26 August, 2011	Top of this page