The Council of Europe Development Bank (CEB) and the state-owned housing company Gewobag have signed another loan agreement for €100 million. The funds are intended to promote the construction, modernization, and energy efficiency improvement of affordable housing in Berlin until 2035.
With the new CEB loan, Gewobag is responding to the ongoing shortage of affordable rental apartments in Berlin and simultaneously strengthening its commitment to the capital’s climate goals.
The loan will finance comprehensive modernization measures, complemented by a large new construction project. In this context, 193 additional apartments for eligible residents will be co-financed in the WATERKANT Berlin neighborhood—as a sub-project within a new development comprising a total of 2,000 apartments. Overall, 1,575 existing apartments across several Berlin districts are slated for renovation. The energy refurbishment focuses on energy savings and CO2 reduction.
Markus Terboven, Member of the Board of Gewobag: „We have now successfully concluded our second major financing project with the CEB. Thanks to this successful collaboration, we at Gewobag can once again set a strong precedent for the future of affordable housing in Berlin. The financing not only ensures the modernization and expansion of the housing stock but also actively promotes our climate protection goals through the implementation of significantly improved energy efficiency standards. This strategic partnership marks another crucial step towards sustainable urban development and ensuring the quality of life for the people of this city.“
„With this new loan, CEB deepens its collaboration with Gewobag as a reliable partner in social housing. The aim is to achieve noticeable social impact in one of Europe’s most strained housing markets,“ said Carlo Monticelli, Governor of the Council of Europe Development Bank (CEB).
This loan builds on an initial CEB credit of €100 million that was fully disbursed in 2024. As a result, 1,771 new and renovated apartments were created for wide segments of Berlin’s population.
The additional loan supports Gewobag’s strategy to construct a total of 7,000 new apartments by 2035 and invest an additional €1.55 billion in modernization while contributing to the capital’s climate goals.
With approximately 76,000 apartments and more than 150,000 tenants, Gewobag’s portfolio has the scale of a major city—and it continues to grow.
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