EBRD reaffirms commitment to Globalworth

By Axel  Reiserer

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  • EBRD retains stake in Globalworth Real Estate Investment Limited
  • Bank invests €25 million in the course of the company’s capital increase
  • Globalworth is leading institutional office investor in central and eastern Europe

Businesses in central and eastern Europe will benefit from the availaibility of modern offices provided by the further growth of Globalworth, the leading institutional office investor in central and eastern Europe, with focus on its two main markets, Poland and Romania.

In order to finance its further growth, the company successfully completed a capital increase of €500.5 million. The EBRD invested a further €25 million to support the company’s planned growth. The Bank became a shareholder in Globalworth in December 2017 and currently holds 5.8 per cent stake in the company.

Established in 2013, Globalworth is a fully integrated real estate company acquiring, managing and developing high-quality office, mixed-use and logistics/light-industrial real estate assets in prime locations. Initially the company only focused on Romania, but in 2017 expanded into Poland, the region’s largest market. It is listed on the AIM of the London Stock Exchange with a market capitalisation of €1.74 billion as of 24th of April 2019.

Romania and Poland are establishing themselves as global investment destinations for a number of large multinational companies, including digital economy champions such as Amazon, Facebook and Microsoft, and the associated shared service and business outsourcing services. As the countries transform into service and knowledge-based economies, Globalworth is at the forefront of this critical economic transition process.

The company provides the required top physical infrastructure for prime global corporates, who are often anchor tenants in the assets owned and managed by the company and also seek access to local talent and innovation eco-systems. Globalworth also supports development of co-working facilities into its existing tenant ecosystem through its facility management and direct investments. This strategy supports development of communities that foster exchange of ideas, collaboration and will lead to new business development opportunities and ignite the future economic growth in these countries.   

As part of the EBRD engagement Globalworth also committed to elevate its corporate governance through implementation of the GRI reporting standards, a global standard for a structured reporting framework on economic, environmental, social and governance performance. The company also committed to achieve sustainability certifications and improvements for assets that will be added to its portfolio. - As of Q1’19 Globalworth has 31 green certified standing properties accounting for almost 75 per cent by value of its commercial portfolio. The company is also in the process of certifying or re-certifying 19 other properties.

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