The Council of Europe Development Bank (CEB) is providing the state-owned housing company Gewobag with a €100 million loan for the construction of 253 new residential units, a refugee centre, and the modernisation of 1462 residential units up to 2025 in Berlin. The planned new buildings will predominantly meet the ‘Efficiency House 55’ standard, therefore complying with the requirements of the applicable energy regulations.
“The low-interest loan from the CEB will allow us to make further investments in our housing stock in Berlin. In addition to new construction, we are also focusing on the energy-efficiency of our housing stock. We are pleased to have another strong partner at our side in the CEB,” says Gewobag board member Markus Terboven.
“Supporting affordable housing to enable inclusive, diverse, welcoming neighbourhoods is a priority for the CEB. This is especially relevant in cities like Berlin where housing is becoming scarce and vulnerable populations struggle with rapid increases in market rents. We are pleased to support Gewobag in its efforts to modernize and expand its offer of municipal rental housing,” said CEB Governor Carlo Monticelli.
The loan is the first financing project in which Gewobag is cooperating with the CEB with the objective to modernise and increase the affordable housing stock in Berlin. Furthermore, the high-energy efficiency standards will make an important contribution to both Gewobag’s and the CEB’s climate protection targets.
About Gewobag
With over 74,000 apartments and more than 130,000 tenants, Gewobag is one of the largest property companies in the capital and in Germany. By 2030, the state-owned housing company wants to expand its stock by around 10,000 apartments through new construction. Click here for the online magazine: www.sowohntberlin.de / More information on Gewobag can be found at: www.gewobag.de
About the CEB
Set up in 1956, the CEB (Council of Europe Development Bank) has 42 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank’s target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised on international financial markets.
More information at CEB: the social development bank in Europe | CEB (coebank.org)