Ovra is seeking part financing for its new real estate development

Ovra Business Consulting is currently involved it’s third and biggest  real estate development project in Bucharest capital city, which consist in the development of 8 apartment buildings and one commercial building on a land surface of 10.000sqm with an investment value of  13 million Euros.

Due to the size, costs savings and safety precautions, we divided the project in to 8 smaller projects for each building and another one for the commercial building.

The first project includes the development of one apartment building with a total surface of 2650 sqm, with UGF+GF+5Floors+Attic floor with a foot print of 370sqm and 35 outdoor parking places, on a 800sqm individual plot.

The building will have a total of 38 units divided in to 30 one bedroom apartments, 6 studios and 2 apartments with two bedrooms, having a total sellable surface of 1971 sqm.

At the moment we have made and authorized with the City Hall a new urban plan for the 10000sqm land in order to raise the heights of the buildings from 3 floors up to 5 floors + Attic floor. This process took to approve almost 2 years.

We have  made the project  for the first apartment building, obtain all necessary approvals and filed to obtain the authorization of construction for the first building, which is due to be issued by30 of July 2015.

We already started to arrange the construction site in order to be ready to start the development as soon as the authorization is issued.

The development of the building will last between 6-8 months due to terms and regulations that need to be fallowed in construction by Romanian laws.

In this stage the first project on the 800 sqm plot of land is valued at 400.000 Euros.

The development costs for the first project are close to 1.3 million Euros. Out of this amount we have already secured over 70%.

 In order to secure 100% of the capital required to complete the first development, our company is looking for 250.000 Euros in finance.

The minimum amount we accept as investment in our project is 50.000 Euros, the equivalent of 1 apartment that is also offered as mortgage for your investment.

Our company offers 40% return on the investment in a period of 8-12 months, if the investment is made prior to the start of the construction.

As construction move forwards the return on the investment drops until the capital is secured, or the construction reach its second phase.

As Guarantee on your investment we offer mortgage on the project that is the equivalent of your investment in apartment units at a 40% discount from the selling price.

This investment offer is valid until the authorization of construction is issued by the Bucharest City Hall.

If the authorization is issued prior to 30 of July 2015, than the offer expires at that date when the authorization is issued.

More information about the project, including architect dryings, exact location and authorizations availabke on request for serious investors.