- Construction progress: Design work has been completed and building permits have been obtained for all 5 remaining plots. Construction of two semi-detached houses has already commenced on one of the plots, with approximately 10% completion. Water supply and sewage networks have also been installed within the project area and connected to the centralized municipal networks.
- Promising location: The project is being developed on Našlaičių St., Vilkeliškiai, near Pilaitė and Lake Gilužis. Convenient access to the city and proximity to nature enhance the area's residential appeal, contributing to the liquidity of the developed property.
- Active buyer interest: The first 4 residential units have already been completed and sold, demonstrating buyer interest in the project.
Interest rates based on investment amount:
– From 100 EUR to 349 EUR – 8.90%
– From 350 EUR to 749 EUR – 9.10%
– From 750 EUR to 1 999 EUR – 9.30%
– From 2 000 EUR to 4 999 EUR – 9.50%
– From 5 000 EUR to 9 999 EUR – 9.70%
– From 10 000 EUR – 9.90%
Separate investments are not aggregated and cannot be combined.
About the Project:
“Gelužės kalvos” is a residential development of semi-detached houses located on Našlaičių St., Vilkeliškiai village, Vilnius district. The entire project consists of 6 land plots, with two semi-detached houses planned on each plot. Each semi-detached house will contain two apartments of 99,54 m² each. Two semi-detached houses have already been sold, while the project owner, UAB “Bautera”, owns the remaining 5 land plots.
Design work has been completed and building permits have been obtained for all remaining plots. Construction of two semi-detached houses has already commenced on one of the plots, with the current completion level reaching approximately 50%. Main water supply and sewage networks have also been installed within the project area and connected to the centralized networks operated by UAB “Vilniaus vandenys”. This infrastructure was developed at UAB “Bautera”'s own expense and transferred to the Vilnius District Municipality.
The remaining phase of the project involves the construction of 10 semi-detached houses, comprising a total of 20 apartments with a combined area of 1 990,8 m². The estimated construction cost is approximately 1 220 EUR/m², while the planned selling price is approximately 1 760 EUR/m² excluding VAT. Based on these assumptions, the projected sales revenue amounts to approximately 3,5 million EUR excluding VAT.
The project is being developed in Vilnius district, near the Pilaitė residential area and Lake Gelūžė. Proximity to Vilnius, the well-developed infrastructure of Pilaitė, and nearby recreational areas enhance the location's residential appeal. This location is particularly attractive to buyers seeking a home in a quieter, nature-oriented environment while maintaining convenient access to the city, contributing to the sales potential of the project's residential units.
Loan Information:
The loan will be repaid from the proceeds generated by the sale of the pledged and developed property, while interest payments will be covered by advance payments or the company's working capital.
The maximum financing amount for the project is 2 400 000 EUR (150 000 EUR already raised). The overall project loan term is 36 months; however, funds will be raised in stages, with the funds in the current stage being raised for a 12-month term. This means that upon expiry of the stage term, 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 ratio is reached, subsequent LTV calculations will be based on construction progress certificates approved by an architect, together with updated external property valuations.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period to 30 days if the required funds are not collected.
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.
