The EBRD has announced a €50 million investment in property developer Releven as part of a joint venture deal in which the bank will hold a 40% stake.
The funding will support the development of residential and mixed-use projects in Vilnius, Lithuania.
The EBRD's investment will primarily focus on urban renewal, specifically the redevelopment of brownfield sites and the revitalization of underutilized land in central Vilnius.
Among the funded projects is Horizontai, a commercial and residential complex on the right bank of the Neris River with an estimated total investment of up to €200 million. This project contributes to Vilnius's ambition of becoming a climate-neutral city by 2030.
Elsewhere, the Sanguškų Parkas project will convert abandoned Old Town garages into sustainable housing.
Saulius Merkys, CEO of Releven, said: “This investment is an exceptional recognition of our development projects and an incentive to dedicate more capital to the creation of a high-quality and sustainable city centre in Vilnius.”
EBRD VP, Banking, Matteo Patrone added: “Our partnership reflects our recognition that proactive collaboration between private investors and municipal authorities is key to successful urban regeneration – essential for creating cities that are greener, healthier, and fit for the future.”
The investment in the Horizontai project will be channeled through the Žabolis ir partneriai kapitalo valdymo fund, with co-investment from Zabolis Partners, the Ginaitis family, and other private investors.
