Brașov-based real estate developer Qualis Properties has listed its bonds on the Bucharest Stock Exchange (BVB). The company carried out a private placement through which it attracted almost €2.1 million, by selling 3-years maturity bonds with a fixed yearly interest of 9%.
The proceeds from the bond sale will be used for the purchase of a land plot for a new project. It will feature 700 apartments and 13,000 sqm of commercial space. Construction works are expected to begin by August 2021 and should be fully finalized by December 2024. The commercial value of the project will be around €70 million.
„This round of financing contributes to strengthening our operations for the acquisition of new land, expansion into other niches and market segments,” said Dragos Tigau, General Manager of Qualis Properties.
At present, Qualis Properties has two residential projects underway in the Tractorul neighborhood, in Brasov, with a cumulative market value of €54 million.
The company is in the process of purchasing land for a high-end housing complex in Brașov with a market value above €60 million.
In 2021, Qualis Properties expects a turnover of RON 40.2 million (around €8.1 million) and a net profit of RON 6.1 million (€.1.2 million).
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