The first real estate project financed by the EBRD opened in Belarus

Located within the Minsk High Technology Park, the new office complex demonstrates unusual for Belarus energy-efficiency.

The European Bank for Reconstruction and Development (EBRD) and the Fishman Group of Israel joined forces to develop a new office complex officially opened on September 29. An €8.7 million loan from the Bank helped the Fishman Group to launch the facility, which has a total gross built area of 15,000 m².

Located within the Minsk High Technology Park – a new hub established to promote the information technology and software development industries in Belarus – this unique office centre will address the growing demand for modern office space in the Belarusian capital. In addition to offering a new, user-friendly working environment it will also set a benchmark for sustainable development projects through its economic, environmental and social standards.

“This is the first real estate project financed by the EBRD in Belarus and we are delighted to support our client, the Fishman Group, in developing the country’s fledgling IT sector”, - said Claudia Pendred, EBRD Director, Property and Tourism.

Yossef Fridman, CEO Svitland Development Ltd. (part of the Fishman Group, in Belarus and Lithuania) added, saying that “it would have been difficult to implement this project without a reliable partner like the EBRD.”

The energy consumption of the new office centre is almost 50 per cent better than the average office block in Belarus. The energy savings achieved by this project will reach 1.35 MWh per year, or €85,500 in monetary terms. New environmental solutions will also allow the complex to minimise its CO₂ emissions.

Let us recall that the EBRD is a major investor in Belarus. As of 1 September 2014 the Bank had committed over €1.5 billion through 66 projects in the country.