• The pooled funds will be used to refinance the second construction phase of the „J7 berzas“ project;
• The mortgaged property is located in Monciskes settlement, 12 kilometres from Palanga city centre and about 1 kilometre from the sea. The area is dominated by individual residential houses and recreational buildings. The neighbourhood has all the city communications;
• The owner of the project has developed about 9 000 square metres of real estate projects.

About the project owner:
In 2022, UAB „Ritata" successfully implemented the „J7" real estate project on the Profitus platform. In almost four months, the Profitus investor community raised EUR 2 973 000 for the project and investors earned EUR 180 000.

Project objective:
The project owner will use the funds raised to refinance the loan for the second construction phase of the „J7" project. The phase consists of 10 identical semi-detached houses, each with 48-71 square metres of apartments. The total investment in the development of this phase is planned to be around EUR 2 000 000 and the apartments are to be sold for EUR 145 000 each. At present, 5 preliminary sales contracts have been signed for a total value of EUR 725 000. The total sales revenue for the second phase of the development is estimated at EUR 2 900 000. More information about the project can be found here.

Interest by investment amount:
– From EUR 100 to EUR 499 – 10.6%
– From EUR 500 to EUR 1 499 – 11.1%
– From EUR 1 500 to 2 999 – 11.35%
– From EUR 3 000 – 11.6%
Important: Individual investments are not aggregated and cannot be combined.

We expect to raise the amount within 7 days, with the possibility of extending it to 21 days if the funds are not raised.