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MYLIFE residential development

flagSarmizegetusa Street 53, Chișinău, MoldovaReal-estate backed loansHouseDefault (Legal Recovery)
Internal Rate of Return0.00%
Total exited price€0
Completed stages

Object overview

  • Category - Real estate backed loan
  • Annual interest - 13% +1% (over 10 000 claim units)
  • Payment frequency - Monthly interest payments
  • Collateral - 1st rank mortgage
  • Duration - 8 months
  • Country - Moldova
  • LTV - 60%

Secured with a first-rank mortgage and 60% LTV, an attractive investment opportunity to participate in the ten-storey residential building development project in the city of Chisinau, Moldova. As of today 775 apartments out of 777 are already reserved or sold, the progress of the construction is about 60% ready.

The Area

The city of Chisinau is located within the elevated woodland area of Codr. Its land is full of black soil, which is ideal for agricultural development. Just outside of Chișinău is Milestii Mici Village, a winemaking plant which boasts cellars with the largest collection of wine in the world with more than 1.5 million bottles!

MYLIFE residential development is located in the center of Botanica district. It's a quiet green area, with a well developed infrastructure. It is a highly valued residential area in Chisinau, it offers a quiet and green living environment with parks, many shopping centers and supermarkets, convenient stores, Ecological College, vocational school “nr5”, kindergarten, hairdressers, pharmacies and polyclinic.

The property
The new 10-storey apartment building is located at Sarmizegetusa street 53, Chisinau. The development consists of 5 semi-attached apartment buildings. The first building is ready and it's already fully inhabited by new homeowners. The second building is 95% ready and the last 3 are about 60% ready. It is expected that all 5 buildings will be fully ready for commissioning by the end of 2022.

MYLIFE residential development consists of 777 bright and spacious apartments of various sizes (from 16.94 m2 to 70.27 m2) with interior design from classic to modern, which are offered as two different packages:
The first includes only European-quality repair (wallpaper, laminate, skirting boards, ceramic tiles, stretch ceilings, interior doors) and plumbing (toilet, shower, faucets);
The second one is euro renovation with furniture (kitchens, tables, chairs, sofas, wardrobes, beds and bedside tables), appliances (oven, stove, ventilation system, stainless steel sink) and plumbing (toilet, shower, faucets).

The infrastructure of the project includes a playground and a kindergarten, underground parking for 95 cars, a fitness club and 2 swimming pools 25 meters long, as well as a 24-hour market. In the future, it is planned to open a beauty salon and a mini-cinema.

Project updates

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