BAKU, Azerbaijan, June 3. The European Bank for Reconstruction and Development (EBRD) is entering a joint venture with Releven, a prominent real estate developer in Lithuania, to support the delivery of sustainable real estate projects in Vilnius, Trend reports.
The EBRD will invest up to 50 million euros in the partnership, which will focus on energy-efficient office, residential, and mixed-use developments in Vilnius’ central business district and old town. The aim is to transform underused or brownfield sites into modern urban spaces aligned with the city’s long-term development strategy.
All projects under the joint venture will meet high environmental standards, achieving either “very good” or higher BREEAM certification or exceeding Lithuania’s national energy efficiency requirements by at least 10 percent.
One of the first projects planned under the partnership is the Horizontai development – a sustainability-focused mixed-use complex located in the city’s business district.
Matteo Patrone, EBRD Vice President for Banking, said the partnership with Releven highlights the importance of collaboration between private developers and public authorities in promoting sustainable urban growth. Releven CEO Saulius Merkys described the investment as a strong endorsement of the company’s project pipeline and a step toward a more sustainable city centre in Vilnius.
To date, the EBRD has invested over 1.8 billion euros in Lithuania across 143 projects, with a focus on green development and private-sector growth.