Mentor Group Holdings
The atmosphere in Chisinau shows that’s the moment to enter this growing market, as it represents one of the last opportunities of investment in an Eastern European growing area.
“In the last months we have deeply researched the Moldavian real estate market.
The discovered facts encouraged us as well as our partners & investors to start immediately a local activity in Chisinau, the capital of Moldova “says Alon Peled, the company’s director.
There are only a few international companies & developers, that have started to discover the financial potential in Moldova.
Moldova, and Chisinau in particular, is combining unique business opportunities as it is still having relatively low costs for the lands and construction.
Mentor Group Holdings, which has been activating for the last 3 years in the Romanian real estate market, announced its intentions of entering new markets from Eastern Europe, as following the growth of the group‘s activities.
Mentor Group intends to apply their double methodology - investing on themselves and, in the same time, providing customized services for developers and investors which are searching for solutions in the area. The recent opening of a new branch in Chisinau, Moldova has already leaded to the closing of important transactions in the region.
”We are glad to be one of the first international companies coming to invest in this area. Being in the right time at the right place can still offer us and our investors, a unique advantage especially in the buying and selling prices” says Alon Peled.
Market overview- brief
Company’s marketing research reveals some interesting facts; among them the fact that the residential market has not started its activity in the capital city of Moldova. The situation reminds Bucharest before more then 10 -15 years. The construction costs per sqm are now around 400-500 € and the building standards are average. In the capital city, you cannot mention a very strong marketing activity; there aren’t any real estate expositions or advertising for real-estate projects. Most of the projects exists are sold out in a very short period to the local and foreign investors tenders. The costs for central and semi-central areas lands are starting from 700-800€ and negotiated very well with the local owners. The permits are pretty flexible and can easily reach 500% and up for building percentage. The selling price for an apartment in a central residential project is around 700-1200 € / sqm, a huge gap that leaves an enormous profit for the developer.
Regarding the commercial aspect - in Chisinau, there are 2 malls (one is still in construction process).
The office buildings market is in a great demand. All the A CLASS offices are full with occupancy with foreign companies who discovered the potential and manage their headquarters in the capital city.
”We are planning to provide a complete marketing research overview, which will include all the 5 aspects - residential, lands, retails, office and hotel market in Moldova. This review will be delivered for free to all of our partners, collaborators and partners and is the first one to be made ever for this area” reveals Alon Peled
Photo:
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