- Extensive Developer Experience: The project is being developed by UAB "Project 19," a subsidiary of one of Lithuania's largest real estate development groups. The CITUS group has significant experience in real estate development, having completed or currently developing projects totaling 143,105.60 square meters.
- Attractive Location: The property is being built in one of Lithuania's most attractive vacation destinations, Nida, where real estate is known for its prestige and high prices due to limited supply.
- High Project Popularity: Of the 38 apartments, 27 have already been sold or are under preliminary contract (55.81% of the sales area), indicating the project's popularity and attractiveness in the market.
Interest by investment amount:
– From 100 EUR to 299 EUR – 7.50%
– From 300 EUR to 749 EUR – 8.00%
– From 750 EUR to 2 999 EUR – 8.50%
– From 3 000 EUR to 9 999 EUR – 9.00%
– From 10 000 EUR to 29 999 EUR – 9.50%
– From 30 000 EUR to 99 999 EUR – 10.00%
– From 100 000 EUR to 249 999 EUR – 10.50%
– From 250 000 EUR to 499 999 EUR – 11.00%
– From 500 000 EUR – 11.50%
Important: investments made separately are not aggregated and cannot be pooled.
About the Project:
The "Nidos banga" project is a real estate development undertaken by UAB "Project 19." The project involves ongoing renovations of an existing three-story building located in the center of the complex, including the conversion of the fourth-floor attic. The development will offer 38 apartments ranging from one to five rooms, with sizes varying from 17 to 75 square meters. As of now, 27 of the 38 apartments have been sold or are under preliminary contract, totaling 657.89 square meters (approximately 55.81% of the total sales area). The entire first phase is planned to be successfully completed and sold by June 2025. Currently, the building is undergoing reconstruction, including facade renovation, interior work, and attic space development. According to the Registry Center, the project's property completion rate has already reached 100%.
Loan Information:
The project is being financed to provide the developer with more time to complete the project and sales. Project financing includes refinancing the existing loan and covering reconstruction costs. The loan will be repaid from project sales proceeds, and interest will be paid from received advances and sales.
The maximum planned project financing amount is 4,100,000 EUR. The project is financed based on the current valuation of the collateralized property until it reaches the maximum loan-to-value (LTV) ratio. Once the maximum LTV is reached, a new property valuation will be conducted, and further project financing stages will be announced and collected only if the maximum LTV is not exceeded.
The target amount is planned to be raised within 7 days, with the possibility of extending to 30 days if the funds are not raised.
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.
