Brașov real estate developer Quality Properties (QUAL24E) listed its first bond issue on the Bucharest Stock Exchange, on the Multilateral Trading System.
Qualis Properties carried out a private placement in January, attracting almost 2.1 million euros from investors, by selling 3-year bonds and a fixed interest rate of 9% pa, payable quarterly.
The 20,937 bonds have a nominal value of 100 euro / bond and were bought by 51 investors, out of which 49 individuals and 2 legal entities.
Qualis Properties has a share capital of 90,000 lei, divided into 90,000 shares, with a nominal value of 1 lei / share.
The entrepreneur Catalin Dumitru Mandru is the owner of the company, holding in his own name 95% of the shares, and through the company Kron Build SRL the difference of 5%.
What Qualis Properties is looking for through this bond issue
Through the issuance of corporate bonds, the company intends to make an investment by acquiring a land worth 5.3 million euros.
On this land he intends to realize a premium project of 9 blocks and 700 apartments and 13,000 sq m of commercial spaces.
The deadline for starting the works is August 2021, and the deadline for completing the project is December 2024.
Qualis Properties estimates that the market value of the project will be approximately 70 million euros.
Qualis Properties plans other projects in Brasov
Currently, Qualis Properties has two residential projects underway in the Tractorul neighborhood, in Brasov, with a cumulative market value of 54 million euros.
The company is in the process of acquiring a plot of land with an area of approximately 30,000 sq m in the Civic Center area of Brasov, in order to develop a housing complex for clients with above average incomes.
The market value of the project is estimated at over 60 million euros.
The company’s strategy aims to expand the activity in the area of individual houses, in the metropolitan area of Brasov.
The company acquired in July 2020 a land of 39,150 sq m in the built-up area of Brasov, Triaj neighborhood area, where it intends to develop approximately 20,000 sq m of industrial halls.