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- Experienced Developer: The project is being developed by SIA Ultra MKP, a Latvian real estate development company whose team has completed more than 9,000 m² of residential developments. Its key projects include the apartment buildings at Asteru Street 14 and 17 in Jelgava (120 apartments), Philosophy Street 3 in Jelgava, and Talivalža Street 20 in Riga.
- Strengthening Riga Real Estate Market: Improving liquidity in the newly built residential housing market and steadily increasing property prices create favorable conditions for the project's development. Faster apartment sales and stronger pricing power enable developers to gradually increase selling prices and improve overall project performance.
- Attractive Location: The project is being developed at Zasulauka iela 6, approximately 3 km from Riga Old Town, in a promising part of the city where demand for newly built residential properties remains stable.
Interest Rates Based on Investment Amount:
– From 100 EUR to 299 EUR – 8.50%
– From 300 EUR to 699 EUR – 8.70%
– From 700 EUR to 1 999 EUR – 8.90%
– From 2 000 EUR to 4999 EUR – 9.10%
– From 5 000 EUR – 9.30%
Important: Individual investments are not cumulative and cannot be combined.
About the Project:
The project owner intends to develop a residential project consisting of two apartment buildings at Zasulauka iela 6, Riga, Latvia. The project is located in a promising part of the city, approximately 3 km from Riga Old Town, where residential infrastructure is actively developing and demand for newly built apartments remains stable.
The project includes the construction of two apartment buildings with a total of 24 apartments. The development will be carried out in stages. First, the construction of the first apartment building and the sale of its apartments are planned. The profit generated will then be allocated to financing the second stage and the development of the second apartment building.
According to the project plan, revenue from apartment sales in the first building is expected to reach 1 692 925 EURexcluding VAT, while the second building is expected to generate 2 183 450 EUR excluding VAT. The total planned revenue from apartment sales will amount to 3 876 375 EUR excluding VAT.
Additionally, approximately 198 336 EUR excluding VAT is expected to be generated from the sale of parking spaces. The total planned project sales revenue amounts to 4 074 711 EUR. The entire project is expected to be completed within 12 months.
Loan Information:
The loan will be repaid from property sales proceeds or by refinancing the loan through another credit institution, while interest will be paid from advance payments and/or the company's operating income.
The maximum planned project financing amount is 2 000 000 EUR (Already raised 331.000 EUR). The amount may be raised in stages. The project is financed based on the current valuation of the pledged property until the established maximum Loan-to-Value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation must be carried out, and further project financing stages will be announced and funded only if the established maximum LTV is not exceeded.
We plan to raise the target amount within 7 d. with the possibility of extending the fundraising period to 30 d. if the required amount is not collected.
About the Profitus
Profitus est une plateforme de crowdfunding et d’investissement avec un investissement minimum de 100 euros. Les investissements Profitus sont garantis par des hypothèques immobilières. Votre investissement est sécurisé par une première ou une deuxième hypothèque sur la propriété, ainsi que par d’autres garanties (par exemple, une caution ou une garantie). Les transactions sont gérées par Lemonway, un fournisseur de services de paiement réglementé.
Profitus est une plateforme de crowdfunding et d’investissement dont le principal objectif est de rendre l’investissement accessible à tous. Les investissements commencent à 100 euros, et la plateforme est ouverte 24/7. Les investissements sont garantis par la mise en gage de biens immobiliers et d’autres garanties (par exemple, une indemnité ou une garantie). Différents projets ont différents outils de sécurité auxquels les utilisateurs peuvent accéder en libre-service pour chaque projet.
Profitus consulte la Banque de Lituanie afin d’assurer une conformité parfaite avec la loi. Profitus fonctionne avec Lemonway, un fournisseur de services de paiement réglementé.
