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Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
Purpose of the loan
Secured with a first-rank mortgage and 50% LTV, an attractive investment opportunity to participate in the ten-storey development project in the city of Chisinau, Moldova. As of today 86 apartments out of 95 are already reserved, the progress of the construction is about 80% ready.
The city of Chisinau 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 Traian residential complex is located in the residential district near the Chisinau Zoo. In the immediate vicinity are the theoretical lyceum "Traian", kindergarten №151, supermarkets, cafes, pizzeria, as well as a beauty salon. The area is well covered with public transportation, the trolleybus stop is located just 100m from the building.
The new 10-storey apartment building is located at Traian street 21/4, Chisinau. As of today, the progress of construction is 80% ready. It is expected that the apartments will be fully ready for commissioning by December 2021.
The high-rise building stands out for its impeccable appearance and stylish design. The stylish decoration of the building is made of the highest quality premium materials. Wide windows open a breathtaking view to the city landscapes. Modern layouts, high ceilings, integrated telecommunications and a smart home system- all this will bring the desired comfort to the lives of the residents. Autonomous heating, sound isolation and energy-saving double-glazed windows allow easy to adjust the microclimate of the apartment, significantly saving living expenses.
The building is equipped with silent ORONA elevators made in Spain, metal entrance doors and video surveillance of the surrounding area. On the ground floor, there is an underground parking, equipped with a roller shutter system that provides noise isolation, protection from bad weather conditions and burglary. The parking lot is also equipped with a modern video surveillance system and 24/7 security.
In addition, there is a colorful playground in the courtyard. One of its main advantages is the anti-slip coatings installed on the slides, which protect kids from falling. Also, it is worth mentioning that the swing and other installations are made of unbreakable materials.
Strong project advantages:
The Traian residential complex aims to be a premium residential complex at affordable pricing, the prices of apartments start at 700 eur per sqm. The loan will be repaid from the sale of the apartments and developers already confirm that 87% of parking spaces, as well as 86 out of 95 apartments are already reserved.
As of today, the property is ready 80% and the developer seeks for additional funding to finalize the construction works. In order to make the sales of reserved apartments easier, the developer will give different properties as collateral.
As of today the total amount invested into this development is 1 961 000 EUR. To finish the construction works, the developer needs 400 000 EUR additional funding; several stages of funding are planned on the platform. The loan-to-value (LTV) for this project will be lower or equal to 50% at any stage of duration of this project. It means that collateral coverage for the total amount issued to this project will be at least 200% at any time. It is expected that the building will be ready for commissioning by December 2021.
Despite the fact that Moldova is not a part of European Union yet, we see great potential in this market in terms of real estate development. Especially after former World bank economist Maia Sandu won presidential elections two months ago and made “joining the EU” her main objective during this presidency.
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.