Update from the originator:
Past months were extremely productive for the Belgrad development team and they were able to complete the following works:
As of today, all the apartments are booked and their new owners are waiting for the interior works to be fully finished. After the works are completed and the sale transactions made, the funds will be repaid to our investors. We are planning that this project will be finished as well as repaid during the next 6-7 months.
New photos of the progress have been added.
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Secured with a first-rank mortgage and 50% LTV, an attractive investment opportunity to participate in the ten-story development project in Chisinau, Moldova, conducted by the experienced International developer.
The city of Chisinau is the capital of the Republic of Moldova. It is located in the Central Region of the country and stands on seven hills in the form of a circle, which stretches along the river Bîc — the right tributary of the Dniester. The capital city is considered to be one of the greenest cities in Europe, as there are many parks and trees grow on almost every street. In addition, it is considered to be one of the less-urbanized European Capital cities.
The new Belgrad residential complex will be located in the city's Botany sector. The Botany sector has a very developed infrastructure and is known as the greenest area of the city. Green parks, a lake, a Botanical garden, educational institutions, a shopping center and even a zoo - all are within arm's reach.
In addition, the existing interest from potential buyers and sales forecasts confirm the high demand for new projects in the area.
The property for investing is a 10-story residential building with the address Belgrad 19/1 in Chisinau. The development project consists of:
The building is equipped with KLEEMANN elevators, open and underground parking spaces, autonomous heating and video surveillance of the surrounding area.
The infrastructure of the complex will be the best fit for both - working adults with an active lifestyle and young families with children. In close proximity, there is Lyceum “Mihai Eminescu”, supermarkets, cafes, pizzeria, food market and fitness club. On the ground floor, there will be a supermarket and nearby - the playground for the smallest inhabitants of the complex. Also, public transportation and its geographic location are very convenient. Belgrad residential will create maximum comfort and a sense of unity with nature in the urban environment. Moreover, the district has great potential and stable demand for residential real estate, as the demand for new apartments in this area is growing steadily.
Strong project advantages:
As of today, the property is ready 80% and the developer seeks additional funding to finalize the construction works. The total investment amount into the project to date is 2’290’000 EUR. The residential complex is expected to be ready for commissioning in Q1 2021.
The loan will be repaid from the final payments of the buyers of apartments. The loan term is only 8 months because construction is at the final stage and most of the sales of the premises are already concluded. The number of funding Reinvest24 will provide for the project is about 250.000 EUR and several stages of funding are planned for the Reinvest24 platform. Collateral is provided by the developers’ partner company - Fitness Forma and its valuation are 518.102 EUR.
Real Estate Market in Moldova
The real estate market in Chisinau accounts for about 70% of the entire Moldovan market. The beginning of the year 2020 was significant for the real estate market in the capital city. More apartments were sold in the first quarter than during 2019. This is due to an increase in the number of people who decide to move to the capital city or its suburbs.
According to the forecasts of the real estate agency, the demand for new housing will continue to increase this year, and the secondary market is expected to decline by 8-10%. The primary market will be characterized by a steady increase in prices. This is due to a reduction in the number of authorizations for the construction of new homes, as well as improved mortgage lending conditions.
For example, if five years ago banks provided loans at an interest rate of 12-14% per annum, at the end of 2019, the loan rate fell to 6-9%. On average, prices for apartments in new buildings are expected to grow by 8-10%, while in complexes commissioned, the price growth will be more pronounced – by 10-15%.
Housing prices in Chisinau and its neighboring cities range from 400 to 1300 euros / sq. m. The offer varies, and customers can choose from ready-to-use residential complexes or from a variety of projects that are still under construction.
Taking into account all the above, the real estate market in Moldova, especially in the city of Chisinau and its surroundings, is on a stable, balanced and favorable development path, which has a positive impact on the developer and investors.
The KIRSAN holding has begun its operations in 2010 as a real estate development company. It opened offices and developed numerous successful projects in Spain, Latvia, Switzerland, Germany, Romania and Moldova.
As of today, KIRSAN built and commissioned 25 residential complexes with 4595 ready-to-use apartments. The total built-up area was 225,460 m2. Each project was built with a special treat, passion and scrupulous attention to even the smallest details.
KIRSAN uses the latest construction technologies. This allows them to build reliable buildings with high security in difficult soils, as well as provide a high degree of seismic stability. The company has a unique technical Park equipped with the most modern equipment of famous European manufacturers, such as Casagrande and Bauer. KIRSAN is the only company in Moldova that uses the latest generation of drilling equipment for jet cementation of soils.
KIRSAN holding is focused on the most complete and effective satisfaction of customers and investors needs through a comprehensive approach to construction without involving third-party financiers, which allows implementing projects of any complexity in a short time. The total number of employees is more than 1000 people. The quality and reliability of any service provided, starting from construction to commissioning-is confirmed by extensive practical experience.
|10.01.2021||Paid||No||08 January 2021, 00:00|
|10.02.2021||Paid||No||03 February 2021, 00:00|
|10.03.2021||Paid||No||03 March 2021, 00:00|