Insider updates on Metropolis 4D development project
The update for 05.2023
The company implementing the project S.R.L. METROPOLIS CITY has filed a case for an accelerated debt restructuring. Read more information about this in dedicated blog post.
The update for 12.2022
The project is late on the interest payouts and principal return of stage 15.
The update for 10.2022
The borrower reported that windows are installed for all apartments. The facade works have been started. We are publishing the 17th stage of this project, which will refinance stages 11, 12, 13 and 14.
The update for 09.2022
Stages 8, 9 and 10 are successfully refinanced, repaying back to our investors the principal amount of 255 000 EUR and earning to our investors 14.5% p.a.
The update for 08.2022
During this time, the project has exited stages 6 and 7, repaying back to our investors 160 000 EUR and earning 14.5 % p.a. The developer requires some additional time to finalize this project, the extended stages are paying an additional +1% interest to investors. As some of the investors would like to reallocate the investments instead of prolongation, we will be refinancing the late stages on the platform with an extraordinary interest rate. With the 16th stage, we are refinancing stages 8, 9 and 10.
This month, Reinvest24 representatives visited the Republic of Moldova and the construction fields of our projects in Chisinau. In this video update below, you can see the construction fields of it. The project is planned to be finalised by the end of 2022 and the payouts will happen in the first half of 2023. Borrower has reported that at this moment 96% of the apartments are already reserved.
The update for 01.2022
In January, the 5th stage of the project was exited, repaying back to our investors 75 000 EUR of the principal amount.
The update for 11.2022
The project continues to repay the stages. As of now, the project’s 3rd and 4th stages are successfully repaid back to our investors.
As per the overall project’s update, the construction works are in the final stage. Also, the selling process of the apartments is quite successful, as 52 out of 56 apartments are already reserved!
The update for 11.2021
The reported progress of the project has reached 63%.
Updates for 09.2021
As planned, September becomes the repayment month, as Metrolopis development project 4D started the repayments of the first 3 stages.
The principal amount of the first stage – 60 850 EUR was repaid back to our 204 investors, who participated in the funding round of this project. This project was earning to our investors 15% in adjusted annual effective return.
As per the 2nd stage, the principal amount of 49 150 EUR is also repaid back to our participated 143 investors. This project was earning 15% in annual return to Reinvest24 investors.
At the end of the month, the 3rd stage was repaying bach the 70 000 EUR of principals as well, earning to investors our investors 14% in Adjusted annual effective return.
The updates for 08.2021
This week we published the 9th stage of this project. During the past months time, the developer’s team has constructed the walls of the 7th floor – outside and inside, as well as started with internal works of the bottom floors. As of today, the building is 55% completed and 12 apartments out of 56 are already reserved. According to the communication with the CFO of Metropolis City the repayment of the project’s first and second stages are planned to happen already in September.
The updates for 06.2021
All 7 floors are already built, the construction of outer walls is almost finished. In the coming week, the roof is going to be installed and construction will move on to the facade works.
The reported progress of the project has reached 50%.
The updates for 05.2021
The construction works are progressing fast and for now the building is 50% ready. Now the team is proceeding with the following works:
- Masonry of inter-apartment walls, as well as masonry of interior partitions for the 2nd floor;
- Construction of 2.5th floor;
- Installation of stair’s metal constructions on the 4th floor;
- Concreting the stairs of 4th floor.
Updates for 02.2021
Currently, the construction is about 30% ready. The foundation, the underground parking, as well as the walls of the first 3 floors are already constructed. Currently the forth floor basis is already finished and walls are being built.
Updates for 10.2020
One more month of construction works has passed and here is the latest overview of the progress on the project:
- Executed the preparation works of the soil in order to install the piles;
- Installed the piles;
- Finalized the ground works and preparations for laying the strip foundation;
- Performed preparation works for concreting the strip foundations;
- Produced the reinforcement frames of the strip foundations;
- Installed the formwork;
Now workers continue with performing the concreting works on the strip foundation. The construction process is progressing without any delays and overall developers are satisfied with the execution of the work, it’s quality and speed.
Updates for 09.2020
Construction of the METROPOLIS district proceeds in accordance with the schedule and general plan. A special seismic resistance of the buildings was provided by the recent JET cementation technologies. This ensures high-level security and efficiency of the building. As of today, workers finished development works of the pit to the project mark and installed the ground-cement piles using JET installations: 124 piles, 1.5 m diameter, 6 m depth.
Now works are performed in two blocks of the first sector and each one is at a different stage of construction. For example, at the 1C block, the first 2 floors were built. As of today, the concreting of columns and diaphragm are fully completed and works related to the waterproofing the Foundation are performed. Also, the masonry of the boiler house on the first and second floors is finished.
As per block 1B, the foundation of it was built.
It is important to note, that the construction works are constantly being monitored by the architectural control for quality which will ensure a high level of confidence for the future apartment buyers and commercial real estate tenants in the complex.
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Updates on Metropolis 4D project for 06.2020
At the moment, the construction works are ready to start. Developers obtained all the permits and the Construction Board of the city of Chisinau approved the project. By now, the developers equipped the land plot with an entrance for large-sized transport and laid the foundation of the first floor.
During the last couple of weeks, developers updated and finalized the architectural project for Metropolis 4D apartment building. As well as projects for laying reinforced concrete construction, water and electricity network, heating and ventilation.
The temporary electricity and water supply sources were connected to the building. The constructors prepared the area around for construction works as well as they performed the ground works on the land plot.
And, here are some pictures from the construction fields of the Moldova 4D project:
Key facts about the Metropolis 4D project:
- Eco-friendly apartments located in the greenest area of the city;
- LTV – 50%
- Collateral – 1st rank mortgage;
- Duration – 12 months;
- Provided by an experienced international developer, who has finished more than 10 residential complexes and 2583 apartments;
- The contract is in EUR currency, therefore currency risk is eliminated.
Recently Reinvest24 started major work towards new markets and diversification. We expanded into new geographies such as Latvia and Moldova. So far we did quarterly overviews that kept investors informed about everything that happened with their investments during the last 3 months.
Now we want to make you, even more, up-to-date about Reinvest24 development projects. Therefore we are introducing our new overview series – Insider updates. And the first guest of the “insider updates” is our premier development project from Moldova – Metropolis 4D development project.
What is going on in Moldova?
What about Moldova and its capital city? Currently, the Republic on Moldova executes key steps towards making a modern and green-smart European city. The Chisinau Mayoralty has launched a joint project with the UNDP (United Nations Development Programme) for low carbon green development. The EUR 2.2 million, 5-year plan, which kicked off in 2018, marked a momentous first for Moldova as it set up the Green City Lab. The urban lab acts as an innovator to smart collaborative solutions that encourages sustainable economic growth. Additionally, it develops new markets and improves liveability overall.
Also, at the end of May, 2020, The European Bank for Reconstruction and Development (EBRD) welcomed the Green City Action Plan approved by Chisinau’s city council, as part of the Moldovan capital’s participation in the EBRD’s flagship urban sustainability programme, EBRD Green Cities.
The plan includes another four strategic objectives:
- sustainable mobility and transport
- climate-resilient ‘blue-green’ infrastructure
- sustainable and efficient energy
- sustainable resources and waste management.
According to the city’s official website, a total of 36 actions are prepared to achieve these objectives. The estimated total cost is €365 million. And the city, national budgets, the private sector or loans from international financial institutions will be the sources of it. With this support, the city will focus on improving renewable energy use, collecting wood biomass and transforming it into energy; enhancing its sustainable mobility plan and urban transport network, making multi-storey apartments more energy-efficient.
Above mentioned solutions will help the city become more sustainable while aiding the country in its goal of reducing greenhouse gas emissions by a whopping 64 percent by 2030.
Still hesitant about investing in Moldova? Here are 7 reasons why you should consider Moldova as your next real estate investment destination.