EBRD finances sustainable property development in the Western Balkans
- Debt package of up to €100 million for major property developer BIG CEE
- Company to develop, upgrade and/or acquire retail parks, shopping centres in the region
- Buildings financed by the EBRD to be energy efficient and achieve green certification
The European Bank for Reconstruction and Development (EBRD) is boosting the development of green commercial real estate in the Western Balkans, with a debt package of up to €100 million to be used by CEE BIG B.V. for the company’s regional expansion.
The company will use the loan to finance the development, upgrade and acquisition of modern retail parks and shopping centres across the Western Balkans. The developer is also committing to securing BREEAM international sustainability certification for all buildings financed by the EBRD.
Austria provided technical assistance through its Delivering Resource Efficiency Investments (DRIVE) programme, helping the company to carry out market, technical, and sustainability assessment of this transaction.
CEE BIG B.V. is a leading developer and owner of open-air retail parks and shopping centres operating in the region. The first two projects financed by the Bank’s debt envelope will be two modern retail parks in Stara Pazova and Čačak in Serbia.
To date the EBRD has invested more than €8.7 billion in Serbia through 340 projects, of which nearly 70 per cent supported the private sector. The Western Balkans is a priority region for the EBRD, where the Bank remains one of the largest institutional investors.