EBRD borrows EUR 100 million for construction of rental apartments in Gdańsk and Wrocław

On Friday, November 8, the European Bank for Reconstruction and Development (EBRD) signed an agreement in Warsaw on a EUR 100 million loan to the Polish subsidiary of Vantage Development, the developer and operator of rental apartments belonging to the German fund TAG Immobilien.

– Our investment will help Vantage Development, TAG's Polish subsidiary, expand its portfolio of rental apartments in Wrocław and Gdańsk – EBRD President Odile Renaud-Basso told “Rzeczpospolita”. His bank will help build about 3,000 apartments. – This will contribute to improving the housing shortage that still exists in Poland – he added.

People who are slow in the housing sector hope for improvement

Several development companies in the third quarter of this year. bringing sales worse than during the pandemic or credit crisis. The manager hopes for a better end to the year.

EBRD: there will be more investment in apartments

Odile Renaud-Basso added that real estate, including housing, is one of the main areas of EBRD investment in our country.

– Considering the shortage of apartments in Poland, we are focusing on supporting the private rental sector to increase the supply of apartments for rent. Over the past two years, we have invested in institutional developers and operators from the private sector, such as Resi4Rent, LifeSpot and NREP, says Odile Renaud-Basso.