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CfT: Research on the Financing of Residential Development

Tender submission deadline in (days/hours):
34/3
Name of Contracting Authority:
Department of Housing Local Government and Heritage
Publish on behalf of:
Dept of Housing
Title:
Research on the Financing of Residential Development
CfT CA Unique ID:
Evaluation Mechanism:
Most Economically Advantageous Tender (MEAT)
Allow different Evaluation Mechanism in the MC/SC:
Description:
The Department of Housing, Local Government and Heritage is procuring, from a single tenderer, a research paper intended to widen the Department’s understanding of the financing of residential development in Ireland through the development cycle, from project inception to sale, focusing on generating a detailed description of the financial flows, encompassing project level finance and how those flows relate to the parent company’s corporate balance sheet, including land assets. The Department’s goal is to understand, over the lifespan of a set of representative private, profit-oriented, residential construction projects, the sources, flows, timings and costs of the various forms of development financing, including financing during the pre-construction period, that is, of the purchase and holding of land and design/consent phases, in addition to the financing of the construction and development-exit (sales period) phases of a residential project. As such, the output will be organised with reference to a small number of case studies that demonstrate the financial flows. Aspects of interest include: - Different project typologies, for instance high density brownfield vs peripheral greenfield housing, and how those project typologies influence the timing and costs of financing; - The opportunity cost of developer’s equity; - The extent to which loans and funding are collateralised, and the nature and value of the assets used as collateral; - Land acquisition finance, including how typical land loan values are calculated, the broader terms of such loans and the degree to which the cost of finance can change depending on whether a site has planning permission or not; - How project risk is assessed and quantified from the perspective of lenders, including market conditions, construction risks, the developer's track record, housing typologies, and the role of developers in providing potential providers of finance with feasibility studies to mitigate risks and provide a comprehensive understanding of the project; - The potential range of loan covenants; - The costs of broker and lender arrangement fees, exit fees, and non-utilisation fees; - The different cost and timing profiles of senior and junior debt and the macroeconomic and project-specific factors which determine those costs; - How development funding is arranged to be released in stages linked to project milestones; - Whether interest payments are rolled up and collateralised or paid off in periodic instalments; - The use of refinancing once development has concluded but prior to sale; and, - How capital is restricted or recycled into further projects on exit, depending on the option deployed to finance at the start of a project. A further objective is to understand the degree to which variation exists, for instance, different costs and covenants which may apply to inexperienced or smaller developers.
Procurement Type:
Services
CPC Category:
Directive:
2014/24/EU (Classic)
Procedure:
Open
CfT Involves:
A Public Contract
CPV Codes:
79300000-Market and economic research; polling and statistics
79311400-Economic research services
73210000-Research consultancy services
73110000-Research services
Contact Point:
Eoin Corrigan, email: eoin.Corrigan@housing.gov.ie
Award per Item:
No
Inclusion of e-Auctions :
No
NUTS codes:
IE
Estimated value (EUR):
80,000
Above or Below threshold:
Below
Time-limit for receipt of tenders or requests to participate:
17/07/2026 23:30
Deadline for dispatching invitations:
End of clarification period:
03/07/2026 23:30
Tenders Opening Date:
19/07/2026 00:00
Allow suppliers to make an online Expression Of Interest:
Yes
Contract awarded in Lots:
No
Contract duration in months or years, including any options and renewals:
18 months
Validity of Tender in days or months:
24 months
EU funding:
No
Multiple tenders will be accepted:
No
Date of Publication/Invitation:
12/06/2026 12:47
TED links for published notices:
Date of Awarding:
Language of publication:
EN
Number of openers:
Two