EBRD and Releven partner to deliver sustainable real estate in Vilnius

• EBRD invests up to €50 million in joint venture with real estate developer Releven to support sustainable real estate projects in Vilnius
• Investment will finance green-certified, energy-efficient office and residential projects in the city
• Project will support sustainable urban regeneration and green transition

The European Bank for Reconstruction and Development (EBRD) is partnering with Releven, one of Lithuania’s leading real estate developers, to deliver sustainable real estate projects in Vilnius.

The Bank will invest up to €50 million in a new joint venture with the company to finance high-quality, energy-efficient office, residential and mixed-use projects in the city’s central business district and old town. The Bank's equity commitment will support more advanced development projects in Releven's pipeline.

The joint venture will focus on transforming underused land and brownfield sites into vibrant, sustainable urban spaces that contribute to Vilnius’ long-term urban development strategy. All development projects carried out by the joint venture will be certified as “very good” or above under the international BREEAM standards or achieve energy performance that is at least 10 per cent better than Lithuania’s national Nearly Zero-Energy Building (nZEB) requirements.

One of the first development projects that will be undertaken is the flagship Horizontai project – a modern sustainability-oriented mixed-use quarter in Vilnius’ central business district.

Signing the deal in Vilnius, the EBRD’s Vice President for Banking, Matteo Patrone, said: “We are pleased to join forces with Releven in this landmark partnership to deliver sustainable urban spaces in Vilnius. This partnership reflects our recognition that proactive collaboration between private investors and municipal authorities is key for successful urban regeneration – essential for creating cities that are greener, healthier and fit for the future.”Saulius Merkys, the 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.”

Since the start of its operations in Lithuania, the EBRD has invested more than €1.8 billion in the country across 143 projects, with a focus on the green transition, private-sector competitiveness and the development of the financial sector.