Update from the originator: The originator would like to inform you that the interest payments for this project will be made on the 25th of this month. This project has been making the interest payments at the beginning of the month and they will continue to do so, just this month will be an exception. Some stages of these projects are extended or slightly delayed, the originator is constantly in communication with Kirsan to find the best solution for investors. New information will follow in the upcoming weeks.
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Macro Location Analysis
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Outstanding opportunity to invest in the development of 2 elite residential buildings in eco-friendly and the most prestigious microdistrict of the capital city of Moldova - Telecentru.
The city is located within the elevated woodland area of Codr. Its land is full of black soil, which is ideal for agricultural development. Just outside of Chișinău is Milestii Mici Village, a winemaking plant that boasts cellars with the largest collection of wine in the world with more than 1.5 million bottles!
The new residential spaces will be located in the city's Telecentru district, which is known as the most prestigious and wealthiest area of the city. It has a very developed infrastructure and is located near several parks and lakes. It has convenient transportation solutions, as well as supermarkets, spas, the greatest city's restaurants, museums, schools and Moldovan state University, are at very close proximity. Also, access to any urban transportation type is easy and convenient. It is a great area for young and ambitious families that are looking for an active but yet comfortable lifestyle.
The authors of the projects are well-known Moldovan architects - Bogdan Leschinskiy and Roland Rotar.
The Ciocarliei project consists of 2 buildings - 1 duplex house and a 2-story family house, located in the greenest area of Chisinau. Both buildings will be distinguished by their high-quality materials, attractive design and prestigious area.
These cosy homes will provide their owners with full comfort and a pleasant environment. Properties will have large full-length glass doors which will make the living room and dining room to be a part of the outdoor terrace and garden, allowing the sunlight to enter the rooms easily and make the building energy-effective and bright. Thanks to the location of the houses, they will have a separate garden and access to a common area with abundant green vegetation.
The first floor has a bathroom with a shower and a studio-type allocation of rooms. The living room is impressive in its size and organically connects both floors of the house with a gallery, located on the second floor. On the second floor, there are three bedrooms and a spacious bathroom.
Specification of the duplex buildings:
Total land plot area: 470 m2
Total living area: 547 m2
Number of floors: 2
Number of bathrooms: 2
Number of bedrooms: 4
Ceiling height: 2.80 m
Specification of the family house:
Total land plot area: 480 m2
Living area: 219 m2
Number of floors: 2
Number of bathrooms: 1
Number of bedrooms: 3
Ceiling height: 2.80 m
Strong project advantages:
At the moment, both buildings are already in the process of construction. The development of the first building is completed for 30%, the second one - for 60%. The total investment amount into the project to date is 300 000 EUR. We expect that this project will be commissioned by October 2021.
The loan-to-value (LTV) for this project will be lower or equal to 60% at any stage of the duration of this project. It means that collateral coverage for the total amount issued to this project will be at least 167% at any time. The loan will be repaid from the amount of the sale of the duplexes or by refinancing it in a financial institution. The developer reserves the opportunity to raise additional capital, as the cost of collateral increases.
The total amount of funding for the project is 200 000 EUR, so several stages of funding are planned for the platform.
The KIRSAN holding began 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.
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|15.08.2021||Paid||No||06 August 2021, 11:00|
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|15.09.2022||Paid||No||31 August 2022, 11:29|
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