The European Bank for Reconstruction and Development (EBRD) has acquired a 4.4 percent stake in the Central and Eastern European property investor and developer Globalworth Real Estate Investments Limited as part of a public offering to support growth in the company’s property portfolio and operations in Romania and support its expansion into Poland, as a press release informs.
EBRD’s investment is taking place within the framework of a capital increase in which Globalworth has raised EUR 340 million. The bank’s share represents 4.4 percent of its capital and voting rights. By supporting Globalworth’s planned expansion into Poland through GPRE the bank will promote regional integration and cross-border activities within central and eastern Europe.
”Both Romania and Poland are establishing themselves as global investment destinations for a number of large multinational companies which are the pillars of the digital economy. The EBRD is pleased to support Globalworth as it provides high quality office space and business infrastructure in Romania and Poland, linking the two key property markets in central and eastern Europe,” Vlaho Kojakovic, EBRD Head of Property and Tourism, stated.
Romania and Poland are the fastest growing real estate markets among the EBRD countries of operations thanks to strong macroeconomic performances and high demand in both countries, the release points out. The EBRD is a leading investor in Romania and to date has invested EUR 7.5 billion in some 400 projects in the country. In Poland, the financial institution has invested EUR 8.7 billion in 391 projects.
Listed in 2013 on London Stock Exchange’s Alternative Investment Market (AIM), Globalworth has grown to become the largest investor and developer of office space in Romania.