- Reservation: The developer is building a block of 40 residential units. The owner of the project currently has 6 land reservations with a total value of EUR 179 625.
- Experienced Builder: The developer has contributed to the development of "Egles Apartamentai" in Palanga. This demonstrates their knowledge, skills, and ability to handle complex construction projects.
- Proven Track Record: The project owner has successfully developed over 10 residential real estate projects. This demonstrates their ability to handle large-scale projects and deliver them on time and within budget.
- Personal Investment and Commitment: The project owner's EUR 264 000 (including VAT) investment of their own funds demonstrates their strong commitment to the project's success.
- Convenient Location: Away from the hustle and bustle of the city center, yet close enough to all amenities. The Baltic Sea is just 3 km away.
About the Project Owner:
The project owner has been active in the real estate sector for 6 years. They have developed over 5 000 m2 of real estate projects.
About the Project:
The project owner in Palanga owns 31 plots of land, which they plan to divide into 60 plots of 7.5 ares each. 20 plots will be sold with building permits, with an estimated selling price of EUR 3 500 per are. In the remaining plots, the project owner will develop a 40-house neighborhood in three construction phases (based on reservations and demand). The developer also plans to develop the infrastructure around the neighborhood, and work on a pond has already begun. The planned area of a single house is about 230 m2. Electricity has already been brought to the plots, and building permits are expected to be obtained within a month. The projected sales revenue for the first and second phases of construction will be approximately EUR 1 745 000 including VAT. The loan will be covered from project sales revenue, and interest will be paid to investors from the project owner's operating income.
Project Rating (Project Loss Risk): A-. This rating is consistent with the previous project rating of C+.
The maximum amount to be financed: EUR 389 000 (EUR 289 000 already mobilised). The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 50% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded
Interest by investment amount:
– From EUR 100 to EUR 249 – 11.00%
– From EUR 250 to EUR 499 – 11.50%
– From EUR 500 to EUR 999 – 12.00%
– From EUR 1 000 to EUR 2 999 – 12.50%
– From EUR 3 000 – 13.00%
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 21 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.
