- Experienced developer: The project is being developed by SIA Ultra MKP, a Latvia-based real estate development company whose team has completed more than 9,000 m² of residential projects. Key developments include apartment projects 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: The market remains active and continues to grow – in 2025, transaction volumes reached their highest level since 2007, while annual apartment price growth stands at approximately 6–8%.
- 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 housing remains stable.
Interest rates by investment amount:
– From EUR 100 to EUR 299 – 8.20%
– From EUR 300 to EUR 699 – 8.40%
– From EUR 700 to EUR 1,999 – 8.60%
– From EUR 2,000 to EUR 4,999 – 8.80%
– From EUR 5,000 – 9.00%
Important: Separate investments are not aggregated and cannot be combined.
About the Project:
The project owner is developing a two-building residential apartment project 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 housing remains stable.
The project involves the construction of two apartment buildings comprising a total of 24 apartments. Development will be carried out in stages – initially, the first apartment building will be constructed and its apartments sold, with the resulting profit allocated to financing the second stage and developing the second apartment building.
According to the project plan, revenue from apartment sales in the first building is expected to reach EUR 1,692,925 excluding VAT, while revenue from the second building is expected to reach EUR 2,183,450 excluding VAT. Total planned revenue from apartment sales amounts to EUR 3,876,375 excluding VAT. In addition, approximately EUR 198,336 excluding VAT is expected to be generated from the sale of parking spaces.
Total planned sales revenue for the project amounts to EUR 4,074,711.
Loan information:
The loan will be repaid from property sales proceeds or through refinancing with another credit institution, while interest will be paid from advance payments and/or the company’s operating income.
Maximum planned project financing amount: EUR 2,000,000 (EUR 531,000 already raised). The amount may be raised in stages. The project loan agreement is scheduled to expire on July 6, 2028. Funds for the project may be raised in phases, and during this funding phase, they are raised for a 12-month period. Upon expiration of this phase, funds may be raised again to extend the financing. The project will be 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 will be required, and further financing stages of the Project will be announced and funded only if the established maximum LTV is not exceeded.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period up to 30 days if the full amount is not raised.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
