- Clear Project Plan: The project develops 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.
- Significant Investment: The project owner has already invested approximately EUR 1,695,413 of their own funds into acquiring land plots. This clearly demonstrates the developer's commitment to this project and its successful completion.
- Sales: Currently, 4 purchase and sale agreements have already been signed and a EUR 70,000 advance payment has been received.
- 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.
Interest by investment amount:
– From 100 EUR to 249 EUR – 8.60%
– From 250 EUR to 699 EUR – 9.00%
– From 700 EUR to 2 499 EUR – 9.40%
– From 2 500 EUR to 6 999 EUR – 9.80%
– From 7 000 EUR to 19 999 EUR – 10.20%
– From 20 000 EUR – 10.60%
Important: investments made separately are not aggregated and cannot be pooled.
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. In the first phase of construction, 14 semi-detached houses have already been built, of which 13 are registered.
Project Progress:
The project is moving forward at a fast pace. 13 of the 14 semi-detached houses, which have started construction, are now registered. Masonry and roofing are complete on 13, with 8 already having the clinker installed. At this stage, a new valuation of the entire complex's assets has been submitted. Compared to the last stage, according to the external appraiser, the value has increased from EUR 3,496,100 to EUR 6,037,700, i.e., an increase of EUR 2,541,600 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 1,859,963 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.
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.
