• Significant investment: The project owner has already invested approximately EUR 1 150 000 of their own funds into the acquisition of the land. This is a clear demonstration of their strong commitment to the project and its successful completion.
• Construction is underway: We are pleased to announce that construction of the project is progressing rapidly. Foundations have been poured for 14 duplexes, masonry work has begun on 4 duplexes, and walls are being erected on 8 duplexes.
• Additional security: The entire loan is guaranteed by UAB Somaris, a company with 6 years of experience in real estate and a track record of developing over 3,000 square meters of real estate.
• Clear project plan: The project will develop 43 semi-detached houses up to partial completion, with each unit having an approximate area of 103 square meters. The total built-up area is estimated to be around 8,858 square meters. The projected total sales revenue for the entire project is approximately €18,000,000 including VAT.

About the project owner:
The company has been in business for 8 years, dealing with logistics, brokerage services, construction of single/double-family houses.  Experience in the construction sector - 1 000 m² (approx. 5 developed residential projects). Profitus has financed 1 project "Namai Baliskiu pusyne", the project was successfully completed and the investors were paid on time.

About the project:
The owner of the project is developing a residential estate in Vilnius district, in Bitininku st. The developer has acquired 50 plots of land on which it intends to develop 43 semi-detached dwellings. The flats in the semi-detached houses are planned to be 103 m². each, with a total project area of approximately 8 858 m². The owner of the project will furnish the semi-detached houses to partial completion and sell them. The first phase of construction will consist of 12 semi-detached houses. The estimated sales revenue for the whole project is EUR 15 000 000 excluding VAT. The loan will be covered by the sales proceeds of the project and the interest will be paid to the investors out of the operating income of the project owner. 

Project progress:
Since the last phase, the project owner has obtained 14 building permits and registered 7 semi-detached houses. Currently, 8 semi-detached houses are undergoing masonry works. The foundations have been poured in 6 houses. At this stage, 3 new assessments have been submitted for the semi-detached houses, the block of houses is enclosed by a segmental fence of metal stakes with a concrete base, the terrain is level, the roads are surfaced, and the south and north parts of the site are equipped with CCTV cameras with a perimeter alarm system.

The maximum financed amount: EUR 5 000 000 (EUR 660 000 already raised). The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 70% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded.

Interest by investment amount:
– From 100 EUR to 249 EUR – 8.60%
– From 250 EUR to 499 EUR – 9.10%
– From 500 EUR to 1 999 EUR – 9.60%
– From 2 000 EUR to 6 999 EUR – 10.10%
– From 7 000 EUR – 10.60%
Important: investments made separately are not aggregated and cannot be pooled.

We plan to raise the amount within 7 days, with the option of extending it to 30 days if we do not raise funds.