Insider updates on Belgrad residential project
Continuing the series of our monthly development project “Insider updates”, today we are sharing with you the latest updates about the Belgrad residential project from Chisinau, Moldova.
Successful exit – all 3 stages repaid back
We did it! From today, the Belgrad residential project is officially exited, repaying back to 334 participated investors 240 000 EUR. All 3 stages generated 15.3% in adjusted annual effective return. We would like to congratulate all participants and thank you for the trust given. Discover more projects like this in our property section.
The first successfully exited project from Moldova
We are happy to announce that we are exiting the first stage of this project, repaying back to our investors 90 000 EUR and earning 15.4% in adjusted annual effective return. This exit is also our first track record of successfully exited projects from a new market – Moldova.
What we did
Thanks to 189 investors participating, we were able to finance the final part of this project’s construction, which was supposed to take up to 9 months. During this period our investors were able to receive a 15% yield with monthly payouts. The first principal repayment was done within 6 months, allowing to reinvest the funds received in even more profitable properties.
Updates on 05.05.2021
Updates on the progress 06.04.2021
The construction works are currently in final phase. The apartments are being transferred one by onw to their new owners. The building will be fully finalized within a few months and our investors will be able to enjoy the returns from their investments into this project.
Updates on the progress 28.12.2020
Past months were extremely productive for Belgrad development team and they were able to complete the following works:
- Installed 764 windowsills;
- Conducted the final plastering works of walls (2500 m2);
- Installed 87 exterior doors;
- Finalized electricity-related works;
- Completed additional works of ceramic floor tiling;
- Installed the drywall ceilings (176m2);
- Did the final plastering works of сeilings and sanding (176m2);
- Painted ceilings 2 times;
- Installed the playground and road curb (135m2);
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 sell 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.
Updates on the progress 30.11.2020
In October 2020 we opened the funding for this property and during the past month developers were able to do the following things:
- Plastered 2100 m2 of walls;
- Concreted the floors;
- Connected to the gas infrastructure of apartments;
- Finished with ceramic floor tiling;
- Installed sanitary equipment;
- Manufactured 108 apartment doors and installed 54;
- Connected electricity to the apartments as well as carried out the general electric network.
Key facts about Belgrad residential project:
- LTV – 50%. Please note that for this project several stages are planned and the LTV for each stage will not exceed 50%;
- Collateral – 1st rank mortgage;
- Duration – 9 months;
- The contract is in EUR currency, therefore currency risk is eliminated;
- Provided by an experienced international developer, who has finished more than 25 residential complexes with 4595 ready-to-use apartments;
- The property is 80% completed already and it is at the final stage of construction.
See more details of this property and invest in Chisinau here.
The most recent insights about Moldovan real estate market can be found here:
1. Moldova outlooks and update on Moldovan real estate market
2. 7 reasons why you should consider Moldova as your next real estate investment destination.
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