BAKU, Azerbaijan, May 21. The European Bank for Reconstruction and Development (EBRD) is providing 180.3 million euros in financing for a large-scale urban regeneration project in Cluj-Napoca, Romania, Trend reports.
The investment aims to convert a former industrial site into a mixed-use development featuring retail, cultural, entertainment, and office facilities, along with significant improvements to local infrastructure.
The loan will be extended to Rivus Investments SRL, a Romanian-incorporated company jointly owned by Iulius Group Romania and Atterbury Europe. Of the total amount, 132.8 million euros will be provided directly by the EBRD, while 57.5 million euros will come from commercial lenders. The financing is part of a broader package totaling up to 400.6 million euros, which includes support from Erste Bank, BCR Romania, and BRD Groupe Société Générale.
The project will involve the development of approximately 132,500 square metres of gross lettable area, including the restoration of two historic buildings for use as a performing arts centre and other public facilities. The surrounding area will benefit from the construction of roads, cycling paths, green spaces, and pedestrian and vehicle bridges over the Someș Mic River. Additional infrastructure will include roundabouts, parking with EV charging stations, and a rehabilitated public square. Portions of the completed infrastructure will be donated to the Municipality of Cluj for public use.
According to the EBRD, the investment supports the Bank’s Real Estate Sector Strategy 2025–2029, with a focus on urban regeneration and sustainable development. The initiative aligns with broader goals related to the green transition and community accessibility.
To date, the EBRD has invested over 11.5 billion euros in 560 projects in Romania.