EBRD & Releven Partner with €50M for Sustainable Real Estate in Vilnius

EBRD Partners with Releven to Promote Sustainable Real Estate Development in Vilnius

The European Bank for Reconstruction and Development (EBRD) has formed a new partnership with Releven, one of Lithuania’s leading real estate developers, to deliver sustainable real estate projects in Vilnius. This collaboration marks a significant step toward transforming the city's urban landscape with high-quality, energy-efficient developments.

Investment and Focus of the Partnership

The EBRD will invest up to €50 million into a new joint venture with Releven. This investment will help finance a range of real estate projects, including office, residential, and mixed-use developments in Vilnius' central business district and old town.

The primary focus will be on transforming underused land and brownfield sites into sustainable, vibrant urban spaces, supporting Vilnius' long-term urban development strategy.

The EBRD’s equity commitment will particularly assist in advancing more complex and sustainable projects within Releven’s development pipeline.

Sustainability Standards and Certifications

As part of the partnership, all development projects carried out by the joint venture will adhere to high sustainability standards. Specifically, all projects will be certified as “very good” or above under the BREEAM standards, or they will achieve energy performance that is at least 10% better than Lithuania’s national Nearly Zero-Energy Building (nZEB) requirements.

This commitment ensures that the developments contribute significantly to Vilnius’ green transition and urban sustainability goals.

One of the first major projects under this collaboration will be the Horizontai project, located in the central business district of Vilnius.

This mixed-use quarter will be sustainability-oriented, setting a benchmark for future developments in the city. The project will serve as a model of how urban regeneration can blend modern sustainability with practical living and working spaces.

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EBRD’s Role and Future Vision

The EBRD’s Vice President for Banking, Matteo Patrone,said, “We are pleased to join forces with Releven in this landmark partnership to deliver sustainable urban spaces in Vilnius”

He added,“This partnership reflects our recognition that proactive collaboration between private investors and municipal authorities is key for successful urban regeneration – essential for creating cities that are greener, healthier and fit for the future.”

Since its arrival in Lithuania, the EBRD has made substantial contributions to the country’s development, with over €1.8 billion invested across

143 projects. The bank’s focus in Lithuania has been on supporting the green transition, boosting private-sector competitiveness, and developing the financial sector.