With this blog post, we will keep you updated on the latest news of our first development project in Moldova – Metropolis Luxury IT apartments.
Key facts about Metropolis Luxury IT apartments project:
- LTV – 50%;
- Collateral – Owned by our SPV, mortgage;
- Country – Moldova;
- Duration – 18 months;
- The contract is in EUR currency, therefore currency risk is eliminated.
See more details of this property here.
In October 2021, we published our first stage of Metropolis Luxury IT apartments. This project became a unique one, as this is our first development project in Moldova, fully managed by Reinvest24. The property is 100% owned by our SPV and the construction process is implemented via a construction sub-contract with Kirsan.
The updates for 12.05.2022
So far, we have fully funded 5 stages of Metropolis Luxury IT apartments and 6th stage is currently open for investments, offering to earn 13% p.a. + 2% on investing more than 5000 EUR.
As per the construction works, during the past months, the construction team:
- Executed the preparation works of the soil in order to install the piles;
- Installed the piles;
- Finalized the groundworks 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;
Right now, the workers are proceeding with concreting the foundations of the building. 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.
If You search for more insights about the Moldovan real estate market and investing in Chisinau, you might find these articles informative:
- Update on the situation in Moldova
- The pandemic turned the Moldovan real estate market into a field of dreams - how & why?
- 7 reasons why you should consider Moldova as your next real estate investment destination.
- Moldova outlooks and update on Moldovan real estate market