Construction News

Fri April 10 2020

Germany secures funds for 2,000 new homes

15 Jan German state-owned housing company Gewobag has secured a €240m (£205m) loan for the construction of 2,000 new residential units in Berlin.

The new buildings, which will be financed by the European Investment Bank, will predominantly meet energy-efficient housing standards, surpassing the requirements of the applicable energy saving regulation, EnEV.

“The low-interest loan from the EIB enables us to make further investments in Berlin’s housing construction in order to increase the state’s own residential portfolio,” said  Gewobag board member Markus Terboven. “This also means that our tenants’ rental burdens are kept as low as possible. We are pleased to have a strong partner on our side with the EIB.”

EIB vice-president responsible for operations in Germany Ambroise Fayolle added: “The lack of quality, affordable housing is a pressing issue in many European cities. I am proud that the EIB has a long tradition in financing sustainable urban housing. Our loan to Gewobag brings more financially accessible and greener homes to many people in Berlin, and when we talk about the added value that a public bank like the EIB needs to deliver, this is a prime example.”

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