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The bonds target qualified and professional investors seeking secured exposure to real assets, with a multi-year investment horizon and appetite for a phased real-estate development project.

The prospectus and final bond documentation will provide full details on the legal structure, timetable, covenants, default scenarios, reporting policy, financial statements, and relevant market studies.

As of closing, the sponsor will have contributed approximately 5 860 000 USD of cash equity into the project, in addition to the land contribution. This includes funding of pre‑development costs, permits, early infrastructure works and project management expenses. The intention is to demonstrate meaningful financial alignment, with the sponsor bearing first‑loss risk ahead of bondholders.

No. No developer or management fees will be paid prior to full repayment of the bonds.

This principle is not just a contractual commitment—it reflects the developer’s longstanding practice:
Since the inception of the project, no management, promotion, or developer fees have ever been taken.

All available resources have been—and will continue to be—allocated to land acquisition, infrastructure development, and value creation for future stakeholders, including bondholders.

This alignment of interests is central to our approach and to the credibility of the project.

No, the bond structure does not include formal step-in rights or contractual provisions allowing investors to directly replace the developer.

However, in the event of a severe underperformance scenario or default, investors benefit from a comprehensive security package—including first-ranking mortgages over valuable land parcels.

This means that bondholders (or their appointed representative) would have the legal ability to take possession and control of the pledged real estate assets, enabling them to recover value through direct sale, third-party development, or other strategic options.

This outcome-oriented protection mechanism has been intentionally prioritized over a complex governance structure, to ensure clarity, enforceability, and asset-backed recovery for investors.