Prime Kapital, moving client deposits into a protected account structure

As a response to prevailing market uncertainty caused by the COVID-19 pandemic, real estate developer Prime Kapital announced that it is implementing robust measures to guarantee clients` deposits by placing the funds advanced by clients in a separate fiduciary clients’ account.

This voluntary initiative means that all those who wish to purchase a home from Prime Kapital will have their deposits fully secured.

How this works

All existing and future deposits, paid for the purpose of securing units, will be placed in a separate protected ‘Fiduciary Account’.  

This means that the developer has no access whatsoever to clients’ deposits until the unit is completed and delivered to the client.  

This eliminates the risk for clients of losing their deposits should the developer default on its promise to deliver to them the home they have contracted and paid for, as the advance payments are not used to pay for the construction costs of the development and would automatically be returned from the Fiduciary Account in case the delivery does not take place.  

Fiduciary accounts will be opened with reputable banks and managed separately with independent oversight. 

Prime Kapital has released to date two large residential projects in Bucharest, Avalon Estate and Marmura Residence.

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