Speedwell has secured a loan of €13.6 million from Garanti Bank for the development of the third phase of The Ivy residential project in northern Bucharest.
The construction works for the third building have already started, with sales reaching 40% of the new stock comprising 128 units. The project will total 10 buildings with 800 residential units.
“Sustainability is a core component of our development, and we are thankful to continue to attract green financing from partners with whom we share the same values,” said Didier Balcaen, CEO and Co-Founder of Speedwell.
To date, the developer has obtained close to €30 million in funding from Garanti Bank for The Ivy project. The residential complex will be linked by road to Speedwell’s office project Miro as part of Speedwell’s mixed-use approach for developments.
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