- Significant Investment: The project owner has already invested approximately EUR 1,150,000 of their own funds into acquiring land plots. This clearly demonstrates the developer's commitment to this project and its successful completion.
- Increased project value: The project value increased by 2.2 times over a 3-month period, reaching 2.6 million EUR.
- Additional Assurance: 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 m² of real estate.
- Clear Project Plan: The project will develop 43 semi-detached houses to a partial finish, with each unit measuring approximately 103 m². The total built-up area is estimated at 8,858 m². The projected total sales revenue for the entire project is approximately EUR 18,000,000 including VAT.
About the Project:
The project owner is developing a residential housing estate in the Vilnius district, on Bitininkų Street. The developer has acquired 50 land plots where they intend to develop 43 semi-detached houses. Each apartment in the semi-detached houses will be approximately 103 m², and the total project area is about 8,858 m². The project owner will finish the semi-detached houses to a partial state and sell them. The first construction phase will include 12 semi-detached houses.
Project Progress:
The project is progressing rapidly. Out of the 14 semi-detached houses that construction has begun on, 7 have been registered, and active construction work is underway on the remaining ones. Masonry and roofing works have been completed in many of them, and some even have their cladding installed. At this stage, 7 new valuations of the semi-detached houses have been submitted, and the property value has increased to EUR 695,500 including VAT.
Loan information:
The developer seeks to obtain a loan for real estate development. Upon completion of the project, the semi-detached houses will be sold. The expected total sales revenue for the project is EUR 18,000,000 including VAT. The loan will be repaid from the project's sales revenue, and interest to investors will be paid from the project owner's operating income.
This project is financed in stages. The maximum funding amount is EUR 5,000,000 (EUR 1,020,211 has already been raised). The project is financed based on the current valuation of the collateral until the maximum Loan-to-Value (LTV) ratio is reached. Upon reaching the maximum LTV, a new property valuation must be carried out, and further project financing stages will be announced and collected only if the maximum LTV is not exceeded.
Interest by investment amount:
– From 100 EUR to 399 EUR – 9.30%
– From 400 EUR to 1 199 EUR – 9.80%
– From 1 200 EUR to 4 999 EUR – 10.30%
– From 5 000 EUR to 19 999 EUR – 10.80%
– From 20 000 EUR – 11.30%
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.
About the Profitus
Profitus is a crowdfunding and investment platform whose main goal is to make investment available to everyone. Investments start at 100 euros, and the platform is open 24/7. Investments are secured by pledging real estate and other collateral (e.g., indemnity or warranty). Different projects have different security tools that users can access in self-service for each project.
Profitus consults with the Bank of Lithuania in order to ensure perfect compliance with the law. Monetary operations on the platform are carried out in cooperation with Paysera and Trustly. The risk relating to the project and project owner are assessed on the basis of information provided by Creditinfo.
