• Construction progress: The project is proceeding according to the planned schedule. Roofing works have been completed, balconies are being installed, and internal infrastructure is being fitted.
• Attractive location: The project is being developed in the central part of Riga – a strategically convenient location ensuring strong demand and liquidity for the property. Once completed, the asset will be more easily realized both in the rental and sales markets.
• Increasing asset value: Since the previous stage, the value of the pledged asset has increased by 480 000 EUR. The project construction is progressing according to the planned schedule.

Interest rates by investment amount:
– From 100 EUR to 299 EUR – 9.50%
– From 300 EUR to 699 EUR – 9.80%
– From 700 EUR to 2 999 EUR – 10.10%
– From 3 000 EUR  – 10.40%
Important: separate investments are not cumulative and cannot be combined.

About the Project:
The project owner is continuing the construction of multi-apartment residential buildings in the Kengarags district of Riga, Latvia. This modern building will include 64 apartments and 3 998 m² of sellable area. Each apartment will have an average size of 62 m², and 62 parking spaces are also planned. Construction works are proceeding according to schedule. Roofing works have been completed, balconies are being installed, and internal infrastructure is being fitted. 

Since the previous stage, the project owner has signed 3 preliminary purchase–sale agreements. Three additional agreements are currently being signed. The project owner has also signed a cooperation agreement with another construction company, which has begun the construction works of the adjacent A2 building. Through this cooperation, the developer aims to accelerate the development of the entire site and make the project more attractive to buyers.

The project is located near Latgale Park and Mols shopping center, in one of the city’s most dynamic areas, just 3.5 km from Riga city center. Kengarags, home to about 52 000 residents, offers well-developed infrastructure and rapidly growing demand for real estate, making the project an attractive choice both for living and for investment.

Loan Information:
The loan will be repaid from apartment sales revenues, while interest to investors will be paid from the project owner’s operating income.

The maximum financing amount is EUR 5 000 000 (EUR 4 179 000 already raised). The project is financed according to the current appraised value of the pledged property until the set 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 will only be announced and raised if the set maximum LTV ratio is not exceeded.

The targeted amount is planned to be raised within 7 days, with the possibility of extending the period up to 30 days if the funds are not fully collected.