Mitigating construction risk for banks and lenders of development finance

Local Knowledge, Global Experience

Development Project Monitoring

Regulated by RICS

BCQS offers construction loan monitoring services for financial institutions and real estate investors throughout the Caribbean and Latin America. Our dedicated team is experienced and has the local knowledge and technical expertise to safeguard the lender’s interests through identification, mitigation and management of risks associated with the project.

Over the years, we have developed strong partnerships with our clients. Our experience and expertise combined with our dedication to quality is the foundation of our reputation as one of the most credible independent property development monitoring teams in the Caribbean and Latin America.

When Financial Institutions provide development financing for a project, BCQS will review construction documents and prepare a due diligence report as well as audit the monthly drawdowns that are made to the Developer on the Lender’s behalf.

As a Construction Project Monitor, we provide our clients with the peace of mind that comes with knowing:

- Construction documents are adequately completed

- The budget reflects the complexity and demands of the project

- The project is properly funded

- Construction work is carried out in accordance with the drawings and specifications

- The project is proceeding on schedule

- Budget and actual costs are tracked to monitor variances from expected performance

- Monthly Drawdown Certificates reflect the works executed on site

- Risks are pro-actively identified and recommendations made for mitigation and management

- There are sufficient funds to complete the job

- The status and value of any variations or changes that are taking place on site

Construction projects are complex and can be exposed to a variety of risks and uncertainties. As a best practice, financial institutions require the professional service of an Independent Project Monitor to mitigate financial risks and protect the interests of the lenders throughout the development process.

Development Project Monitoring

OVER 100 PROJECTS

OPERATING FOR OVER 50 YEARS

ACROSS THE CARIBBEAN &

LATIN AMERICA

EXPERIENCED IN A WIDE RANGE OF

DEVELOPMENT SECTORS

INCLUDING RESORT, HEALTH,

COMMERCIAL, RETAIL & LEISURE

MONITORED OVER US$ 1 BILLION

CONSTRUCTION EXPENDITURE

BCQS PROFESSIONALS ARE MEMBERS OF THE ROYAL INSTITUTION

OF CHARTERED SURVEYORS (RICS)

PROJECTS

The Saltmills Retail Plaza, Grace Bay Road, Turks and Caicos Islands

The project comprises a 90,000 square foot new build commercial mix used space. BCQS provided full development appraisal and project monitoring for CIBC FirstCaribbean International Bank.

Baywalk Mall, St. Lucia

The project comprises of a multi-storey mixed use commercial development in Rodney Bay.

BCQS provided full project audit and monitoring for CIBC FirstCaribbean

International Bank.

Dr. Horacio Oduber Hospital, Aruba

The project comprises the renovation and expansion of an existing primary healthcare facility in Aruba. BCQS provided full project audit and monitoring for AIB Bank.

The Ritz-Carlton Resort, Aruba

The project comprises a 320 key new build resort hotel and Casino on Palm Beach, Aruba. BCQS provided full development appraisal and project monitoring for AIB Bank.

Breathless Montego Bay Resort and Spa,

Jamaica

The project comprises a 150 key new build resort hotel at Sunset Point, Montego Bay. BCQS provided full

project audit and monitoring for CIBC FirstCaribbean International Bank.

Hyatt Regency Hotel Santa Barbara Plantation, Curacao

The project comprises a 350 room new build resort hotel and 18 hole golf course. BCQS provided full development appraisal and project monitoring for for Scotiabank.

Amanyara Hotel and Villas, Turks and Caicos Islands

The project comprises a new build luxury beach front resort with 40 guest pavilions and 22 multi bedroom estate villas. BCQS provided full project audit and monitoring for Scotiabank.

Hampton Inn by Hilton, Dominican Republic

The project comprises a 123 room new build business hotel located close to Santo Domingo’s international

airport. BCQS provided initial due diligence report and project monitoring for Sabadell International Bank.

Seven Stars Resort, Grace Bay Beach, Turks and Caicos Islands

The project comprises a 96 unit new build luxury beachfront condominium resort. BCQS provided full project audit and monitoring for CIBC FirstCaribbean International Bank.

Alexandra PET Imaging Centre,Trinidad

The project comprises of a three storey commercial building with the ground floor being developed as a

specialised medical facility referred to as a PET Imaging Centre. BCQS provided full project audit and monitoring

services to CIBC FirstCaribbean International Bank.

PROJECTS

Antigua

- Hermitage Bay on behalf of CIBC FirstCaribbean International Bank

- Multi-storey Car Park on behalf of Clico Investment Bank

- Royalton Hotel on behalf of Antigua Commercial Bank

Aruba

- Aruba’s Life Residences at Noord on behalf of AIB

- Barcadera Multi-cargo sea terminal on behalf of AIB Bank

- Dr. Horacio Oduber Hospital on behalf of AIB Bank

- Embassy Suites by Hilton at Eagle Beach on behalf of Banco De Sabadell SA

- JFK Commercial Centre on behalf of AIB Bank

- Le Vent Condominiums at Eagle Beach on behalf of AIB

- ‘O’ Condominiums at Eagle Beach on behalf of ArubaBank

- St. Regis Hotel and Condominiums on behalf of AIB

- The Mill Marriot Courtyard on behalf of ArubaBank

- The Ritz Carlton resort on behalf of AIB Bank

Bahamas

- Carl’s Jr. Drive Through Restaurant on behalf of RBC Royal Bank

- Commercial Development Sandy Port on behalf of CIBC FirstCaribbean International Bank

- Nassau Palm Resort Phase 1 on behalf of Sterling Bank

Barbados

- Infrastructure for Deanstown Housing Development on behalf of CIBC FirstCaribbean International Bank

- Peach and Quiet Hotel refurbishment on behalf of Republic Bank

- Porters Gate on behalf of RBC Royal Bank

- Sandals Royal Barbados on behalf of Republic Bank

- Sea Breeze Hotel redevelopment on behalf of CIBC FirstCaribbean

- The Sands Hotel redevelopment on behalf of NCB (Cayman) Ltd.

- Zinnia Condominiums on behalf of Republic Bank

BCQS International has provided development project monitoring services on the following projects throughout the Caribbean region:

Bonaire

- Bonaire Hospital on behalf of RBC Royal Bank

British Virgin Islands

- Anegada Beach Club Phases 1 & 2 on behalf of National Bank of the Virgin Islands

- BATU Villas Luxury Rental villas on behalf of VP Bank

- Commerce House Commercial Building on behalf of Scotiabank

- Escape Villa, Jost van Dyke on behalf of VP Bank

- Nanny Cay Outer Marina on behalf of Scotiabank BVI

- The Glass House, JVD on behalf of VP Bank

Cayman Islands

- Barcadere Marina on behalf of Scotiabank

- Caribbean Plaza on behalf of Butterfield Bank

- Cricket Square on behalf of RBC Royal Bank

- Fin Condominiums on behalf of Butterfield Bank

- Morritt’s Tortuga Club on behalf of CIBC FirstCaribbean International Bank

- Rum Point Club Condominiums on behalf of Butterfield Bank

- Walkers Office Building on behalf of CIBC FirstCaribbean International Bank

- Westin Casuarina on behalf of CIBC Bank

Curacao

- Corendon Beach Resort on behalf of Credit Europe (Netherlands)

- CTEX Data Storage Facility on behalf of AIB Bank

- Dreams Resort Curacao on behalf of MCB Bank

- Hyatt Regency Hotel Santa Barbara Plantation on behalf of Scotiabank

- Marriott Courtyard on behalf of MCB Bank

- Marriot Curacao Expansion and renovation on behalf of MCB Bank

Dominican Republic

- Four Seasons Hotel on behalf of Inter-American Development Bank & IFC

- Hampton Inn by Hilton on behalf of Sabadell International Bank

Jamaica

- Breathless Resort & Spa, Montego Bay on behalf of CIBC FirstCaribbean International Bank

- Excellence Resort Hotel at Oyster Bay on behalf of Banco De Sabadell SA

- MegaMart Mandeville on behalf of Scotia Investment Jamaica Ltd.

- Secrets room renovation at Montego Bay on behalf of CIBC FirstCaribbean International Bank

St. Kitts

- Park Hyatt, Specialist contractual advice to the Owner

- Pelican Cove on behalf of the Developer

St. Lucia

- Baywalk Mall on behalf of CIBC FirstCaribbean International Bank

- Harbour Club on behalf of 1st National Bank St. Lucia

- Le Paradis, Praslin Bay on behalf of Clico Investment Bank Ltd.

- Rodney Bay Marina on behalf of Textron Financial Services Inc.

- Royalton Resort on behalf of Republic Bank & Bank of St Lucia

- Virgie Point Hotel on behalf of Ohio Investment Bank

St. Maarten

- Blue Mall on behalf of RBTT

- Hollywood Planet on behalf of CIBC

- The Cliff Condominiums, Cupecoy Beach on behalf of CIBC FirstCaribbean International Bank

Trinidad & Tobago

- Abercromby Street Development on behalf of RBC Royal Bank

- Alexandra PET Imaging Centre on behalf of CIBC FirstCaribbean International Bank

- C3 Centre Mall on behalf of a consortium of Banks

- Queens Park West on behalf of RBC Royal Bank

- South Park Mall on behalf of Republic Bank

- Trincity Village Centre on behalf of Republic Bank

Turks & Caicos Islands

- Amanyara Hotel and Villas on behalf of Scotiabank

- New Hospitals, Providenciales & Grand Turk on behalf of CIBC FirstCaribbean International Bank

- PLS Runway & Apron extension, Providenciales on behalf of CIBC FirstCaribbean International Bank

- Rock House Resort, Blue Mountain, Providenciales on behalf of Scotiabank

- Seven Stars Resort on behalf of CIBC FirstCaribbean International Bank

- The Ritz Carlton Resort & Residences, Grace Bay Beach, Providenciales on behalf of AIB/ Bancaribe

- The Saltmills Retail Plaza on behalf of CIBC FirstCaribbean International Bank

- The Shore Club Resort & Spa, Long Bay Beach, Providenciales on behalf of CIBC FirstCaribbean International Bank

- The Somerset Resort, Grace Bay Beach, Providenciales on behalf of CIBC FirstCaribbean International Bank

- The Venetian Resort, Grace Bay Beach, Providenciales, on behalf of Cayman National Bank

- Villa Del Mar Resort, Grace Bay, Providenciales on behalf of Scotiabank

- Wymara Villas, Turtle Tail, Providenciales on behalf of RBC and Scotiabank

* This list is not exhaustive.

Miami, FL

Cuba

Haiti

DominicanRepublic

Puerto Rico

Venezuela

Mexico

Costa Rica

Guatemala

Nicaragua

Ecuador

Peru

El SalvadorHonduras

Belize

SurinameFrenchGuiana

St Kitts

Barbuda

DominicaMartinique

Grenada

NetherlandsAntilles

MontserratUSVI

Bolivia

United States

Panama

Paraguay

Chile

Uruguay

Argentina

Guyana

Brazil

Barbados

Trinidad and Tobago

Turks and Caicos

British Virgin Islands

Bahamas

JamaicaCayman Islands

St Lucia

Bermuda

Colombia

Anguilla

Copyright © BCQS International, 2020. All rights reserved.

BCQS International

AnguillaT. +1 284 340 1610E. jce@bcqs.comContact: Jonathan Cadwgan-Evans

BahamasT. +1 242 327 7153E. dns@bcqs.comContact: Daria Stubbs

BarbadosT. +1 246 428 8091 E. samin@bcqs.com Contact: Sanjay Amin

BermudaT. +1 441 292 1718E. tberry@bcqs.comContact: Tim Berry

BrazilT. +55 11 2373 5949E. jslattery@bcqs.com Contact: James Slattery

British Virgin IslandsT. +1 284 494 7144 E. bbutler@bcqs.com Contact: Ben Butler

Cayman IslandsT. +1 345 949 8644 E. ljd@bcqs.com Contact: Liam Day

ColombiaT. +57 316 529 5772E. fvelasquez@bcqs.com Contact: Felipe Velasquez

GuyanaT. +1 246 428 8091 E. samin@bcqs.com Contact: Sanjay Amin

JamaicaT. +1 345 949 8644 E. ljd@bcqs.com Contact: Liam Day

St Lucia & OECS CountriesT. +1 246 428 8091 E. samin@bcqs.com Contact: Sanjay Amin

Trinidad & TobagoT. +1 868 622 2277E. kcallender@bcqs.comContact: Ken A. Callender

Turks & Caicos IslandsT. +1 649 946 4238E. staylor@bcqs.com Contact: Simon Taylor

Regional EnquiriesT. +1 345 949 8644 E. ljd@bcqs.com Contact: Liam Day

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