Project number:


Business sector:

Property and tourism

Notice type:


Environmental category:


Approval date:

02 Mar 2004



PSD disclosed:

24 Jan 2004

Project Description

To provide equity finance to support the regional expansion and sub sectoral diversification of a real estate development company in the Region.

Transition Impact

The project will lead to an increase in the provision of new, modern, international standard commercial real estate facilities (e.g. office buildings, shopping malls, mixed use centres) in the Region and thus support the development of primary and secondary property markets and stimulate greater competition in the sector. The project will also lead to an improvement of local subcontractor skills in the company's new target and expansion markets, enabling them to produce construction works to international standards.

The Client

TriGranit Holding Limited, a limited liability company organised under the laws of Cyprus and holding company to various real estate development sub projects in the Region. The company is currently owned by Ennaid Ltd, AIG -CET and EBRD.
For more details on the client please refer to

EBRD Finance

The EBRD proposes to make a phased equity investment of up to € 25 million, providing funding to TriGranit Holding and for selected developments of TriGranit that meet specific criteria also additionally at sub-project level.

Project Cost

To be determined - actual figure will depend on number and volume of new sub-projects that are going to be implemented by the Company.

Environmental Impact

The project was screened C/1, requiring an audit of the Sponsor's corporate environmental policy and procedures. The audit confirmed that each of the proposed developments will be undertaken in compliance with high environmental, health and safety standards. Potential environmental impact associated with the development, construction and operation of the new properties and sites will be appropriately addressed, and the properties will be built and operated in accordance with all applicable national standards and requirements, in accordance with relevant EU standards and best international practice. As a part of its Investment Guidelines, the company will conduct environmental due diligence of sub-projects under the facility in accordance with the EBRD Environmental Procedures for Property Development and Acquisition Funds.

Technical Cooperation


Company Contact

Todd Cowan , Chief Excecutive Officer,
TriGranit, Vaci ut 3, 1062 Budapest,
Phone: ++36-1-374-5600
Fax: ++36-1-374-5601

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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