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  • Experienced developer: The owner of the project has a vast experience of about 40 years in the real estate sector, is a shareholder of the company and has been involved in apartment building projects in Riga for the last 9 years, so he understands this segment well.
  • Developer's investments in the project: The owner of the project (personally and through related companies) has invested around EUR 2 million of his own money in the development of the project. This demonstrates a strong commitment to the project and belief in its success.
  • Reservations for apartments are already ongoing: The client's sales representatives keep the client informed of new bookings on a weekly basis. Currently, 31% of the apartments are already reserved.
  • Potential buyers: Currently a letter of intent has been signed with SIA TVERIJA for the sale of the ground floor commercial premises. A letter of intent has been signed with SIA ALTAMIRA for the sale of the first floor apartment block. According to the information provided, the company will adapt the furnishing of the acquired premises for the future tenants.

About the project owner:
SIA Būvniecības Partneri is a company whose main shareholder has 40 years of experience in the construction sector. The related companies specialise in design, construction contracting, construction of new apartment buildings and adapting old commercial buildings for residential use. The Group has been operating in Latvia since 2014. Since 2015, it has been involved in the construction of 10 apartment buildings with a total area of at least 59 000 m2. This is the first joint project between SIA Būvniecības Partneri and Arco Real Estate on the Profitus platform.

The aim of the project:
The 9-storey blocks of the project will offer apartments that will meet the needs of today's clients, from compact one-room to five-room apartments suitable for larger families. Regardless of the size of the apartment, which ranges from 34 to 103 m2, the layout of each apartment has been designed to maximise the use of space. The apartments will be available for sale upon completion of the construction works and upon reaching 100% completion. The estimated sales income is EUR 17 700 000 including VAT. The 3rd and 5th floor blocks of the project will be equipped with studio apartments for long term rentals. The rental income of the leisure units with long-term lease agreements is estimated at EUR 205 000 per annum excluding VAT (studio units at EUR 410 incl. VAT/m2 per month). The 1st floor commercial premises will be leased and sold. A letter of intent to sell to SIA TVERIJA is currently being signed. The leisure and commercial premises will be sold upon reaching 80% completion and the buyers will be responsible for adapting them to the needs of the tenants.

Project progress:
75% of the premises, heat and water supply systems, electrical wiring, doors are installed, and partitions are formed in the apartments. Negotiations with the sports club and LIDO restaurant are underway. The sale of the commercial premises is expected in the near future. According to the information provided by Arco real estate, there are 38 interested buyers in the apartment blocks, of which 16 have received preliminary offers on the terms of the housing loan. 

Maximum planned amount of funding for the project: EUR 5 000 000 (EUR 4 687 015.2 already raised). The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded. The loan-to-value (LTV) ratio excluding VAT at this stage is 50%. 

Interest by investment amount:
– From EUR 100 to EUR 249 – 10.00%
From EUR 250 to EUR 499 – 10.50%
From EUR 500 to EUR 749 – 11.00%
From EUR 750 to EUR 1 499 – 11.50%
– From EUR 1 500 to EUR 2 999 – 12.00%
– From EUR 3 000 to EUR 9 999 – 12.50%
– From EUR 10 000 to EUR 24 999 – 13.00%
– From EUR 25 000 to EUR 49 999 – 13.50%
– From EUR 50 000 – 14.00%
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.

Prusu st. 1A, Riga, Latvia

About the Profitus

ECSP license
Profitus Verified platform

Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros, secured by real estate or warranty. It operates 24/7 and collaborates with Paysera, Trustly, and Creditinfo.

Minimum investment
100 EUR
Advertised return
Payment options
Direct debit, Bank transfer
Total funding volume
126,833,230 EUR
Average loan duration
What does Profitus offer?

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.

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