The real estate business is a very new investment area in which we, as our own client, are starting for the first time. We already have financed several properties, especially hotel complexes and holiday resorts, but never as our own investments. A large-scale real estate project started in Germany for social housing in Frankfurt was stopped by us for various reasons in 2017. The project currently in the execution phase in Germany is a new start and we hope for a successful execution.
ENERGY EFFICIENT BUILDINGS
Investments in the construction of energy efficient residential buildings in Germany, and including affordable housing.
The present project presents an opportunity to support the accelerated adoption of energy efficient new constructions, in line with the KfW-55 standard and above legal requirements in Germany.
GLOBTEC FINANCING EUR 10 MILLION
TOTAL COSTS EUR 33 MILLION
The individual buildings are expected to have very limited negative environmental impacts. The cumulated impact of subprojects could instead generate important environmental benefits.
Signed – Aug/25/2019