Insider updates on Ciocarliei 33 development project

Anders Olsen August 26, 2022

Reading Time: 3 minutes

In this blog article, you will find pictures and other updates from the construction fields of the Ciocarliei development project.

The update for 26.08.2022

The project’s refinancing stage has received great demand from our investors and the funding was collected in less than 3 hours. Thanks to that, the first 2 project stages have been exited, repaying back to our investors 250 000 EUR.

The update for 25.08.2022

This month Reinvest24 management visited the Republic of Moldova and the construction fields of our projects in Chisinau. In the video update below, you can see that Ciocarliei houses are ready and are currently for sale on the market. In order to fully finalize this project, the developer requires additional 5 months, therefore this project will be refinanced on the platform, offering a higher interest rate for the inconvenience.

The update for 01.06.2022

The duplex building is fully ready and is put on sale. The last floor of the main house is built.

The update for 01.05.2022

The update for 11.02.2022

The project is back! Right now, the construction works are reactivated and are going forward at full speed. The windows in the first building are already installed and the second building walls are starting to rise up. We are very positive about this project, as it is located in an area with a very high demand for new properties. Below you can see the latest photos from the construction fields.

The updates for 01.12.2021

Initially, the first stage of this project was planned to be repaid in January. It will be prolonged for 6 months due to serious health problems of the previous owner, which led to the changes in the project’s ownership. The new owner of the Ciocarliei development is one of Kirsan’s subsidiary companies, which will finish its construction. We look forward to proceeding with the construction works once the change of ownership is finalized.

Key facts about the 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 – 12 months extended to + 6 months;
The contract is in EUR currency, therefore, currency risk is eliminated;
Provided by an experienced international developer.

Read the full project description and invest in it here.