- Construction progress: Construction works in Buildings C and D have progressed significantly – elevator installation is nearing completion, floors have been installed, and roofing works are ongoing. Approximately 70% of the heating, ventilation, and electrical systems have been installed, and alarm system installation works have commenced. Parking area works are also underway. Since the start of construction, approximately 63% of all works specified in the construction contract have been completed.
- Experienced developer: The project owner, together with related parties, has developed more than 30 000 m² of real estate projects. The company specialises in residential projects and has successfully completed projects in Vilnius and Palanga.
- Attractive location: The project is being developed in the central part of Druskininkai, next to Lake Druskonis and the resort’s main attractions. Druskininkai is a year-round resort with stable demand for holiday and second homes, contributing to the project’s high liquidity.
About the Project:
“Druskonio Perlai” is a modern residential development located in the heart of Druskininkai, just a few steps from Lake Druskonis and Vijūnėlė Park. The project is being developed in one of the resort’s most attractive locations – at the intersection of M. K. Čiurlionio and Šv. Jokūbo streets, where urban infrastructure, nature, and recreational areas come together to create a convenient environment for both living and leisure. The development consists of four residential buildings (A, B, C, and D), with up to 5 floors. Buildings C and D offer apartments of various sizes – from compact 1-room apartments (approximately 26–30 m²) to spacious 3-room apartments exceeding 60 m², with balconies or terraces.
Large, distinctive terraces are planned on the upper floors. One of the project’s key advantages is its central location. Lake Druskonis, Vijūnėlė Park, “Grand SPA Lietuva”, Druskininkai Health Resort, restaurants, and shopping facilities are all within a few minutes’ walk. Druskininkai is a year-round resort, making the project attractive for permanent residence, as a second home, or as a rental investment.
Development and Financing Information:
During the term of this loan, the construction of Buildings C and D is being financed. Buildings C and D are planned to include 56 fully finished apartments (total area – 2 097.13 m²), as well as 11 storage units and 38 parking spaces.
Since the previous financing stage, construction works have progressed significantly. In Building D, the floor base has been installed and the floors have been poured, roof insulation works have been completed, roof edges have been installed, and a roof access hatch has been fitted. In Building C, the insulation and covering works on the remaining section of the roof have been completed, and a roof access hatch has been installed. Elevator installation in both buildings is nearing completion.
Installation of the buildings’ internal engineering systems is actively progressing – approximately 70% of the heating, ventilation, and electrical works have been completed, and alarm system installation works have commenced. In the parking area, stairwells have been insulated, internal and external wall plastering and masonry works are underway, and installation of the entrance gates has begun. Overall construction is progressing steadily – since the start of construction, approximately 63% of all works specified in the construction contract have been completed. Installation of internal engineering systems, finishing works, and other works required to complete the project are continuing.
The project is planned to be completed by the end of 2026. The total projected sales revenue of the project is 8 007 850 EUR.
Loan Information:
The loan will be repaid from property sales proceeds, while interest to investors will be paid from advance payments or the company’s working capital. The funds raised during this stage will be used for real estate development works.
Maximum financing amount: 5 000 000 EUR (2 821 000 EUR has already been raised). The scheduled end date of the project loan agreement is 2029-02-19. Funds for the project may be raised in stages, and the duration of this financing stage is 12 months. At the end of this stage, if necessary, continued project financing may be provided, i.e. funds for the project may be raised through a new financing stage without exceeding the final maturity date of the project loan agreement. The project is financed based on the current valuation of the mortgaged property until the established maximum loan-to-value ratio (LTV) is reached. Once the maximum LTV is reached, a new property valuation will be required, 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 days, with the possibility of extending the period up to 30 days if the funds are 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.
