Pre-agreements for the apartments were signed in August 2021 and the total value of the investment amounted to approximately EUR435,000.
“The projects in our portfolio are proceeding in line with the company’s expectations. We are constantly and closely monitoring the developments we have invested in and are also exploring new opportunities”, said Alexandru Bonea, CEO of Meta Estate Trust.
The acquisition in the Parcului 20 by Cordia residential project was completed with bank credit and company funds as follows: EUR 256,500 through a loan from Libra Internet Bank from the facility obtained in 2022 in the total amount of EUR 1,500,000, and the difference covered from the Company’s own funds.
“The investment made is part of the strategy for the early stage business line which involves the acquisition of housing in residential projects in the early stages of construction, with exit before or upon completion. Our objective is to sell the apartments and parking spaces over the coming months”, the company said in its report.
Meta Estate Trust has a market capitalization of RON67.9 million. MET shares have lost 14.4% so far in 2023, amid deals worth RON16.1 million, as per stock market data.
Meta Estate Trust ended the first half of 2023 with total revenue of RON6.3 million, up 60% on the year, and a net profit of RON2.9 million, from RON0.7 million in the first half of 2022.