We present the new stage of the phased financing project – „P00000851-10". The owner of the project will use the pooled amount for real estate development. The amount to be raised is EUR 65 000.

About the project owner: 
The developer has a lot of experience, having developed about 4 thousand square meters (as a manager) and about 6 thousand square meters of real estate projects under the company's name. The developer developing the project previously received financing on the Profitus platform and implemented as many as 9 real estate projects. Projects were successfully completed, and investors were settled on time.

About the project:
The owner of the project will develop the construction of 3 semi-detached houses, a total of 6 apartments, on the purchased plots of land. Semi-detached houses will have an area of 250.28 square meters, A+ energy class and two stories. Each apartment will own a 0.066 hectares plot of land. Semi-detached houses will be sold partially finished. The planned sales revenue of the entire project is about EUR 1 254 000.

Project progress:
With the funds mobilised in the last phase, the project owner registered the duplexes as separate properties. According to the Centre of Registers, the completion rate of the semi-detached house at 3 Moluvėnai Street is currently registered at 85%, while the actual completion rate based on the works already completed is 84%. The house has completed the construction, the facade finishing has started and the internal partial finishing has been completed. In the house at 5 Moluvėnų str., the walls of the 1st floor have been bricked up, the structures have been completed, the systems have been installed, and the interior finishing works are continuing. According to the data of the Centre of Registers, the completion rate of the semi-detached house is currently registered at 52%, while the actual completion rate based on the works already carried out is 66%. The house at 7 Moluvėnų str. has had its foundations insulated, internal partitions and slabs have been installed, the stairs have been concreted and the roof structure has been installed, and the interior finishing works are continuing. According to the Centre of Registers, the current registered completion rate of the semi-detached house is 50%, while the actual completion rate based on the works already carried out is 56%. The developer will use the funds raised in this phase to continue further construction works.

The maximum financed amount: EUR 510 000 (EUR 445 000 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) with VAT at this stage is 53%.

Risk category (probability of default) of this project: 7/12.

Interest by investment amount:
– From EUR 100 to EUR 499 – 9.2%
– From EUR 500 to EUR 999 – 9.7%
– From EUR 1 000 to EUR 1 999 – 9.95%
– From EUR 2 000 to EUR 4 999 – 10.2%
– From EUR 5 000 – 10.7%
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 21 days if we do not raise funds.