The European Bank for Reconstruction and Development (EBRD) will support the development of low-emission sustainable property by providing financing to the real estate portfolio of Ukraine’s investment company Dragon Capital.
The Bank is extending a US$12.5 million loan for the refurbishment of an office building in Kyiv with 9,000 square metre gross lettable area (GLA) and the acquisition of two warehouses located in Kyiv and Kharkiv with a total GLA of 26,000 square metres.
Supported by the EBRD’s expertise, Dragon Capital aims to retain the ‘Very Good’ rating level of the Kyiv office building under BREEAM, the world’s leading method of assessing, rating, and certifying the sustainability of buildings. In addition, in an innovative approach for Ukraine, tenants will be asked to sign green lease agreements which will require them to minimise the environmental footprint.
Ukraine is a top three investment destination for the EBRD, with €2 billion committed to the country’s economy in the past two years.
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