The European Bank for Reconstruction and Development (EBRD) is investing €50 million in the capital of real estate development group RELEVEN. The investment in RELEVEN’s equity will be carried out through a newly established joint venture, in which the EBRD will hold a 40 percent stake.
The EBRD investment will enable the development of residential and mixed-use projects in Vilnius, Lithuania, aimed at supporting urban renewal, with a primary focus on the redevelopment of brownfield sites and the revitalisation of underutilised land plots in central locations. The project is closely aligned with the EBRD’s Real Estate Strategy for 2025–2029, which reinforces priorities such as carbon emission reduction, urban regeneration, and addressing the shortage of quality housing.
The first projects include “Horizontai,” which will occupy 1.3 hectares on the right bank of the Neris River, and “Sanguškų Parkas,” which will transform abandoned Old Town garages into sustainable housing.
“This investment is an exceptional recognition of our development projects and an incentive to dedicate more capital to the creation of a high-quality and sustainable city centre in Vilnius,” said Saulius Merkys, CEO of RELEVEN.
“Horizontai” is a commercial and residential building complex located at 59 Lvivo Street, with a total investment of up to €200 million. It is expected to transform the right bank of the Neris River into the new centre of the capital. “Horizontai” will supplement this area of the city with much-needed housing, offices, and services for nearby office employees and new residents, ensuring that all essential infrastructure is accessible within 15 minutes. This project will contribute to Vilnius’s goal of becoming a climate-neutral city by 2030.
Signing the deal in Vilnius, EBRD Vice President, Banking, Matteo Patrone said, “We are pleased to join forces with Releven in this landmark partnership to deliver sustainable urban spaces in Vilnius. Our partnership reflects our recognition that proactive collaboration between private investors and municipal authorities is key to successful urban regeneration – essential for creating cities that are greener, healthier, and fit for the future”.
The investment in the “Horizontai” project will be made through the “Žabolis ir partneriai kapitalo valdymo” fund, with co-investment from Zabolis Partners, the Ginaitis family, and other private investors.
“I am confident that Vilnius is currently the best place to invest in real estate. It is the largest, wealthiest, and happiest capital in the Baltic region. The energy of this city acts as a magnet that attracts and retains our investments. We have a strong belief in building the future in this city,” said Alvydas Žabolis.
Real estate developer RELEVEN is part of the Zabolis Partners investment community and is actively investing in the creation of a sustainable city. RELEVEN’s projects, developed in central areas of the capital, are characterised by long-term value and ensure a sustainable and modern lifestyle. Completed projects include the “3 Burės” business centre on Konstitucijos Avenue; residential projects with administrative premises such as “Kalinausko 20,” “Žvėryno Lapės,” the reconstruction of the “Gallery 4A” building next to the MO Museum, and others.
