Blog

Devon operations overview / December

December ended with great progress across Devon’s active projects and continued engagement and support from all of you. Throughout the month, work moved forward across Meira Garden, Amber Park, Duntes Park, and Barona iela 92, while the platform welcomed 116 new lenders, bringing monthly funding to €1,109,420.

MJL Group initiatives

Jelgava, Ganību iela 54. More than 60% of the residential units at the Ganību iela 54 project have now been successfully leased, highlighting strong tenant demand and stable occupancy levels.

Funding and platform highlights

• In December, the funding volume reached €1,109,420, bringing the total attracted amount on the platform to €7,756,538.
• A total of 116 new active lenders joined during the month, increasing the overall number of active lenders to 1,061.
• The average interest rate remained strong at 16.10%.
• Interest earned by lenders in December amounted to €131,233, bringing the total interest earned to €714,349.
• The average funding amount per lender increased to €7,434.

Devon project statuses

Meira Garden

• Planning and coordination work for foundation construction has been completed.
• Website improvement and content optimisation activities were carried out.
• Electrical design plans have been finalised and submitted for the preparation of detailed construction drawings.
• Ongoing communication with initial prospective clients regarding the project.
• Marketing activities were executed in collaboration with Neighbourhood Plus, including participation in a curated gift guide alongside other residential developers in Riga.

Amber Park

• Final interior finishing works are ongoing.
• Staircase construction and finishing works have been completed.
• Facade architectural lighting has been fully installed.
• In several completed apartments, kitchens and built-in wardrobes are currently being installed.

Duntes Park – Stage 1

• Development of marketing materials and website visualizations have commenced.
• Initial discussions regarding the project website development have been initiated.

Barona iela 92, Riga

• A significant portion of renovation works has been completed, including full electrical installation and construction of new internal partitions.
• Plumbing works are ongoing.
• Kitchen layout design has been completed and ordered, along with further interior furnishings and apartment fit-out planning.

White Amber

• Project design development continues to move forward, with architectural and technical solutions being gradually refined in line with the approved planning documentation and the updated project scope.
• Interior visualisations are being further developed to define a cohesive design direction and ensure consistency between the intended aesthetics and the project’s interior architecture.
• Initial work on the project website concept has commenced, with early-stage exploration of structure, content approach, and overall direction.

Tērbatas Lofts

• Architectural visualisations are underway, with updated drafts being developed to reflect the project’s refined architectural concept.
• The development of the project website is ongoing, encompassing the initial planning phase and active collaboration with additional specialised partners to ensure high-quality execution and alignment with marketing requirements.

Just a little reminder to make the most out of the January Christmas campaign is running till January 9th, where our investors can not only get a cashback but also an additional bonus when investing with Devon projects. More information on that here: https://devon.eu/en/blog/one-christmas-two-surprises.