In this blog article, You will find out the latest updates about the Metropolis business apartments project and see the pictures from the construction fields.
Metropolis business apartments is a unique full-featured apartment hotel and event business center, aimed at both the local business audience and businessmen coming to Moldova for business meetings and projects.
From now on, we offer an exclusive opportunity to follow the progress of the project’s development works, using real-time cameras. The stream is currently supported with all internet browsers, but Chrome.
The updates for 23.09.2022
Last month, Reinvest24 management 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 construction of the project should be finalised by the end of 2023 and the payouts will happen in the 4th quarter of 2023. Some stages of the project are currently extended and 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 extended stages on the platform with an extraordinary interest rate.
The updates for 28.01.2022
During the past months, the main efforts have been dedicated to securing the frame of the building, as well as plumbing works. These works made huge progress on the internal works and in future will secure the building in case of an earth earthquake.
Apart from that, the team has installed the windows on the right side of the building. Now the developer is speeding up the construction process, adding new workers on the construction fields. Currently, there are 25 workers daily on the construction field.
In January, the first stage of this project was repaid back to 347 participating investors. As you can see in the picture below, the repaid principal amount was 150 000 EUR and it has earned our investors 15% per annum. As per project development, You can see in the real-time view cameras, that the building already has the windows installed and workers are proceeding with the internal works.
The updates for 02.09.2021
As for now, the construction of the building is 60% completed and the developers started the selling process. Right now the team is working on internal works, that covers strengthening and concreting the walls, laying floors and etc. Also, the technical equipment of the elevator and the exit to the rooftop is completely ready. Invest in the 8th funding stage of this project and help the developer complete it faster.
The updates on the progress 01.03.2021
As of today, the construction is 53% ready and You can already see the building frame with the walls and 11 floors. The architectural projects for business apartments are currently finalised and the orders for the materials to implement the next stage of construction works are already placed. The next stage will start with elevating ground levels next to the building, reconstructing the penthouse section and then the developer will start with the facade works. The building is planned to be commissioned in the beginning of 2022.
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;
- The contract is in EUR currency, therefore currency risk is eliminated;
- Provided by an experienced international developer.
Read the full project description here.
Read more information about Moldovan real estate in the articles below:
1. The pandemic turned the Moldovan real estate market into a field of dreams - how & why?
2. 7 reasons why you should consider Moldova as your next real estate investment destination.