Project update

Update from the originator: 

The project is about to be finished. The project is expected to be completed in a few weeks. The return is supposed to be in line with expectations.

Update from the originator:

The works are finished and the developer is starting to deliver the apartments now. The originator's best expectation is that the project will be finished in April, and the return will be in line with expectations.

Update from the originator:

Works are finished, and the originator foresees that by January the project will be completed. 

The investment return will be around 30-35%.

Update from the originator:

New documents about project progress have been added to the documents section.

Update from the originator:

A new document (August Report, 2021) has been added to the documents section.

Update from the developer:

Regarding the license, the developer wants to tell investors that the Javea City Council made some objections that have been corrected, already having the favorable technical report and waiting for the developer to do it legally. According to the architect of the project, it is expected to be obtained over the next month of March as, since the beginning of the year, it has been working much slower than normal in the city Hall.

The execution project is already in place, however, as work is being done on the tender for the work is pending in case any changes need to be made to adapt it to the costs of the NP. As for the construction, as the developer said before, is working on the tender, having invited 6 construction companies.

Regarding the commercial aspect, at the moment the developer continues with the 5 original reservations, all and that commercial activity is being considerably reduced by the restriction of mobility in the Valencian Community, which not only prevents not "letting in" the second residence for people from other communities but to the community itself since there are perimeter closures in towns with more than 50,000 inhabitants. Still, it's working with two possible new reservations.

Finally and with regard to the financing of the promotion, note that the originator has not returned to discuss the project with the entities, waiting to have at least a license and closing costs and of course, advance with the reserves. The developer's intention is to present the project formally to the entities in the first fortnight of March.

Update from the developer:

First of all, the developer wants to thank you for trusting WHITE Investing RE S.A. investing in the JAVEA Residential project. For the developer, it is an additional challenge to count among the shareholders of the vehicle to the pool of the originator's investors, therefore, the developer's requirement of business compliance will be even higher if possible.

The developer wants to take advantage of this thank you letter, also to update you on the situation of the project and line of work for the next few months. Thus, on Thursday, November 12, the extension of the capital and the sale of land was successfully completed, finding the company fully capitalized and with the land in which the project will be carried out. From that moment and during the next three months, the development of the project will have two ways of working; On one hand, the technician, where we are waiting to be granted the license by the City Council, to develop the Execution Project and conclude with the tender for the work; and on the other hand, the commercial side, where the developer will work to reach 8 reserved units.

Both works will be developed in parallel with the intention of being able to finance the project in the first part of 2021 and start the works at the end of the first quarter of 2021 or early in the second quarter. To conclude, reiterate once again our gratitude and indicate that as a sign of our commitment to you and in accordance with our value of being transparent in communication, the developer will periodically send you a Monitoring Report, where investors will find the commercial, technical and business variables that will allow them to monitor the evolution of your investment.

Update from the originator: