Pre-opening | Civislend finances a three-duplex new-build in Colonia de Sant Jordi (Mallorca) with a €1,350,000 loan

10/09/2026 – ⏱ 5 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The crowdfunding platform Civislend is preparing a new real estate crowdlending transaction in Mallorca. The project consists of granting a loan secured by a first-rank mortgage to part-finance the purchase of the land and the construction costs of a new-build multifamily residential building comprising three duplex homes, with communal areas and an adjoining garage, in Colonia de Sant Jordi, within the municipality of Ses Salines. The developer behind the transaction is MOVICOMTI, S.L. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

The loan amounts to €1,350,000. The transaction sets a nominal annual interest rate of 10.50% (TIN); this reference return is subject to investment risk and is not guaranteed. The total term is 18 months, with the developer entitled to repay in full or in part without penalty from the end of month 6, and with the option to extend the contract for a further 6 months at the same 10.50% TIN. Both in the case of early repayment and of extension, interest is calculated according to the actual final drawdown period of the loan and the agreed annual rate. Interest begins to accrue on the formalisation date, expected within a maximum of 30 business days from the close of fundraising. The minimum investment is a €250 ticket per user, with no maximum contribution limit. The published offering does not specify the opening date and time of the call or an internal credit rating, points the investor should verify in the contractual documentation and in the key investment information sheet before committing funds.

Asset Description, Planning Progress and Commercial Traction

The project sits on a 439-square-meter plot and provides for 513 square meters of above-ground built area, plus 174 square meters below ground for three parking spaces and 249 square meters of open terraces. The programme comprises three duplex homes — two at ground level and one penthouse — each with three bedrooms, terraces and a private pool, with an average area of 212 square meters per home. The building permit was granted in July 2026 and construction will be carried out by the developer's own construction arm.

The site is in Colonia de Sant Jordi, a former fishing village turned holiday and second-home destination, set between the Es Trenc and Ses Roquetes beaches. The town has its own marina and lies about 15 minutes from the port of Sa Ràpita, 40 minutes by car from Palma airport and 47 minutes from the centre of the Balearic capital, with direct road access. Marketing of the homes has already begun and, according to the transaction documentation, there are interested parties, although no reservations or completed sales are recorded. Civislend investors will exit through the sale of the homes.

The market study included in the documentation analyses duplex homes and duplex penthouses with roof terraces of similar characteristics within Colonia de Sant Jordi itself, comparing actual transactions recorded at the Land Registry in recent years with the available new-build and second-hand supply, and concludes that the project's projected sale price is in line with the market.

Financial Structure, Coverage Ratios and Real Collateral

A first drawdown of €103,000 will be made to cover the outstanding payment on the land, to which formalisation costs of approximately €195,635 are added, placing the gross first drawdown at €298,635. The remaining capital, €1,051,365, will be drawn down against works certificates issued by an external Project Monitoring service contracted by the developer. At signing, the developer contributes 55% of the funds required, equivalent to €368,015, and Civislend the remaining 45%, with €298,635. Taking the total funds required to complete the project, the proportion reverses: the developer contributes €615,312 (31%) and Civislend €1,350,000 (69%).

The security is a first-rank mortgage over the project asset, whose current appraised value is €519,990 and whose valuation on the Completed Building Assumption (HET) is €1,794,389. That gives a first-drawdown loan-to-value ratio of 57%, calculated on the gross first drawdown against the current valuation, and a 75% LTV on the completed-building assumption, calculated on the total loan amount against the completed-building valuation. The loan-to-sales ratio stands at 50%, obtained by dividing the gross loan amount by the projected sales value of €2,679,000.

The developer is MOVICOMTI, S.L., a developer and construction company whose founder has more than 25 years of experience in the real estate sector, active in development, the construction of residential and commercial buildings, integrated project management and technical supervision of works. It has delivered multifamily residential schemes in Murcia and the Balearic Islands, with more than 200 homes across 9 projects in recent years, previously financed with Cajamar, Banco Santander and Banco Sabadell. Two of those schemes are in Colonia de Sant Jordi itself and are already delivered: Residencial Pin de Celia (11 homes, 2022-2024, financed by Banco Sabadell, average sale price €553,636, average area 143 square meters and average unit price €3,866/m²) and Residencial Faro de Marina (8 homes, 2024-2026, financed with own funds, average sale price €707,750, average area 148 square meters and average unit price €4,778/m²).

In compliance with the European crowdfunding framework, it is recalled that non-experienced investors have a four-day pre-contractual reflection period during which they may revoke their investment at no cost. This is a crowdfunding product and not a deposit or a guaranteed savings product. Real estate credit transactions carry specific risks such as illiquidity, the risk of not obtaining the expected return, the possibility of dilution, or the total or partial loss of principal in the event of the debtor's insolvency. This crowdfunding project is not authorised or supervised by the Spanish National Securities Market Commission or by the Bank of Spain, and the information provided by the developer has not been reviewed by those institutions. Likewise, the capital invested is not covered by the investment guarantee fund or the deposit guarantee fund.

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