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Follow the project´s progress from - Insider updates article
This is the first development project in Moldova, fully managed by Reinvest24. The property will be 100% owned by our SPV and the construction process will be implemented via construction sub-contract with Kirsan.
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!
The project is located on the territory of the new European district of Chisinau METROPOLIS - a premium residential sector with the most sophisticated infrastructure and the most modern architecture in the capital. METROPOLIS itself is conveniently located only 5 minutes from the airport and 10 minutes from the center of the city. Green parks, a lake, a Botanical garden, educational institutions, shopping centre and even a zoo - all are within arm's reach for anyone who values time and has no compromises to their convenience.
In the Botanica sector, Dacia street 59, Chisinau, a real estate development project of 3 residential buildings is in motion. All 3 buildings will consist of 9 floors, a total of 298 apartments (14 416 m2) and commercial premises on the ground floor (627 m2). There will be 288 parking spaces underground and a big green area with a kids playground. The size of the new modern apartments will range from 30m2 to 80m2, making most of the apartments very suitable for rent.
The infrastructure next to the apartment buildings is well-developed. The residence will be able to find a full range of restaurants, a sports centre, swimming pool and cinema just a few minutes away from the apartment buildings. The cleanest and greenest area of the city will allow just to walk, enjoy nature and to breathe fresh air. Besides, the largest Metro Cash and Carry, agricultural university in the area and close proximity to the airport will attract young people, as well as foreigners to live in this fast-developing modern district. The largest IT-park will be also founded in the Metropolis area creating a stable demand and a comfortable environment for young IT professionals, who can relocate to this area.
What is a development project?
This is a loan type that is used to purchase a land plot or property in order to build and sell it. It is important to mention that this loan type is more similar to our rental projects, rather than real estate backed loans. It means that we don’t lend money to a 3rd party, but purchase the property and manage the process in a similar way we do with our rental properties.
This object has passed Reinvest24 risks assessment and is secured by Collateral Agent mortgage.