EBRD invests in affordable housing in the Lithuanian capital
European Bank for Reconstruction and Development (EBRD) has invested €50 million in RELEVEN, a real estate development group. The investment will come through a joint venture in which the EBRD owns a 40% stake.
The investment will fund residential and multifunctional projects in Vilnius, the capital of Lithuania. The key objective of the EBRD’s collaboration with RELEVEN is to revitalize the city, including:
– reconstructing abandoned locations;
– utilizing unused land in central areas;
– improving the appearance and modernizing the infrastructure.
The project aligns with the bank’s broader strategy for developing the real estate market. Designed for 2025–2029, the strategy aims to reduce emissions and restructure cities. Another important aspect of the strategy is addressing the housing shortage.
Project details for EBRD’s investment
The first stage of the joint project with RELEVEN is Horizontai. The 1.3-hectare complex will be located on the right bank of the Neris River. The second stage is Sanguškų Parkas, which will be built on the site of abandoned garages in the Old Town.
RELEVEN CEO Saulius Merkys emphasized the significance of the EBRD’s investment. The investment will enable the construction of high-quality facilities in Vilnius that adhere to sustainable development principles.
Horizontai is a complex of commercial and residential properties. The total investment amounts to €200 million. The developer is confident that the project will become a key landmark on the right bank of Vilnius. The complex will offer affordable apartments, offices, and retail space. Its proximity to developed infrastructure will contribute to demand from buyers and tenants. Construction of the project aligns with climate goals and will help Vilnius become a climate-neutral city by 2030.
Representatives from the EBRD emphasized the importance of the partnership for the capital and the country as a whole. RELEVEN is a leading company that specializes in creating sustainable urban spaces. By joining forces, they will transform Vilnius into a more livable city. Additionally, the project will improve the real estate market and increase the supply of affordable housing. This will attract buyers who could not previously afford to purchase their first property.
According to Matteo Patrone of the EBRD, Vilnius is a promising investment destination. The local market shows high growth potential and is ready for transformation. Through joint efforts, the companies will be able to transform the Lithuanian capital and achieve the desired result.
As for RELEVEN, the group is part of the Zabolis Partners investment community. Its portfolio includes projects such as the 3 Burės business center and the Žvėryno Lapės residential complex.