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☀️ Cashback for more relaxing sunny days
As summer unfolds, Devon is launching a special cashback campaign to offer our lenders additional value, right when it’s most appreciated.
Whether you're enjoying time with family, travelling, or simply relaxing during the warmer months, we understand that summer brings increased spending and less time to explore new lending opportunities. At the same time, it's a high season for MJL Group as a real estate developer to move projects forward and activate developments in the pipeline.
To align both needs, we’ve introduced an attractive opportunity for our community to earn +4% instant cashback while supporting high-quality real estate projects.
Cashback campaign overview:
- Eligible projects: All currently available on the Devon platform
- Cashback bonus: 4% credited instantly after funding
- Campaign period: Valid until each project is fully funded
- Note: Cashback is not applied to funding made via the daily interest compounding feature
This is a limited-time campaign, based on the availability of projects and remaining funding capacity.
Projects currently available:
- Mežaparka Nams – Round 2
- Residential development project
- Interest rate: 14.5% + 4%
- Status: Active development
- Barona 92
- Acquisition and renovation of a city property
- Interest rate: 14.3% + 4%
- Status: Acquisition and renovation
- Villa Astor, Jūrmala
- Completed premium property in a resort city
- Interest rate: 9% + 4%
- Status: Ready for operation. Rental property
With just €206,000 in total funding available across the three projects, now is an ideal moment to invest and take advantage of the instant cashback opportunity.
Visit projects - CLICK HERE.
If you have any questions about the +4% Summer Cashback, other funding options, or project details, feel free to contact us at info@devon.eu or via our Telegram group. We’re here to help.
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June 2025 / Devon operations overview
In June, MJL Enterprises advanced ongoing projects and expanded its portfolio with the addition of a new project, Barona 92. Construction activities continued across several sites, including Amber Park, Duntes Park, and Mežaparka Nams (now Meira Garden). Progress was also made in financing, design development, and sales preparation.
Midsummer break work schedule
Please note that due to the Midsummer holidays, our team will be operating with limited support and will pause payment processing on June 23–24.
ReBalt Modular Systems receives €570,000 to increase production capacity
The Latvian company ReBalt Modular Systems, specialising in timber modular construction for private homes and apartment buildings, has received €570,000 in financing from Swedbank. The funding is intended to support working capital and accelerate the progress of the company’s rental housing project in Jelgava.
May 2025 / Devon operations overview
May marked the first full month of operations for Devon, the MJL Enterprises funding platform, and we’re pleased to report strong results and promising growth across our projects and lender base.
Latvia’s first 5-story wooden modular building assembled in Jelgava
We’re excited to announce that the modular units for the first building in our Jelgava project have been successfully assembled. This marks a significant milestone, as we are proud to be the first in Latvia to build a five-storey wooden modular building — a true innovation in construction.
Early Bird +3% Cashback - Extended!
We’re excited to announce that our Early Bird Cashback campaign has been extended and will continue running until June 30, 2025.
First 3 Weeks Results: 260 Lenders & €1.35M Funded
Devon is proud to share its first results three weeks after launching operations. In just 20+ days, 260 active lenders have joined Devon - a strong signal of interest and trust in our model. Our community has already funded €1,350,000 in real estate projects owned and managed 100% by MJL Enterprises Group.
Telegram chat for lenders available
The first two weeks of Devon’s launch have shown strong interest from the real estate lending community, with over 400 lenders registering on the platform. In response to this growing engagement, we’ve launched a Telegram chat dedicated to fast, open, and direct communication with our lenders.
Minister of Economics visits Rebalt Modular Systems
On April 17, 2025, Viktors Valainis, the Minister of Economics of the Republic of Latvia, visited Tukums Municipality as part of a regional tour.
Meet Devon: experience you can rely on
Nowadays, there are many ways for individuals and companies to allocate their funds and thus make a profit. For many of us, real estate remains one of the most reliable asset classes. A new platform has been launched - Devon - which is part of MJL Enterprises Group, a real estate developer with roots dating back to 1993.
Villa Astor Nominated for New Residential Building of the Year
We are truly proud and delighted to share that our project Villa Astor, located at Pumpuru iela 3A in Jūrmala and developed by MJL Development, has been highly recognized at the Latvian Construction Annual Award (Latvijas Būvniecības Gada balva).
Construction of the second rental building to begin; Ministry of Economics raises income thresholds for apartment rentals
Construction of rental apartment buildings continues actively at 54 Ganību Street, Jelgava. Currently, modular structure assembly is underway for the second half of the first building, along with the construction of the staircase and installation of internal engineering communications.
Low-Rent Housing Projects Underway in Six Latvian Cities (video)
A time capsule was sealed into a new modular apartment building in Jelgava — part of a first-of-its-kind project in Latvia. Watch the video about this milestone event