SPEEDWELL and Garanti BBVA sign a new financing agreement for the third building of THE IVY project
SPEEDWELL and Garanti BBVA sign a new financing agreement for the third building of THE IVY, the premium residential project in northern Bucharest
SPEEDWELL, one of the most active real estate developers in Romania, is continuing its strong partnership with Garanti BBVA by signing a new agreement with the purpose of financing the third building of THE IVY, the premium residential project located close to Baneasa Forest. The current loan equals 13.6 million euros.
SPEEDWELL will also extend its collaboration with RoGBC (Romania Green Building Council), Garanti BBVA’s partner for the Green Home initiative.
The construction works for the third building have already started, while 40% of the available apartments have been sold since the launch of the new stock of units.
THE IVY is SPEEDWELL’s residential project situated in the northern part of the capital, on Jandarmeriei street. Spread out over five hectares of land, the project includes 10 buildings with a P + 6 height regime that feature a total of 800 units, ranging from studios to two, three, or four-room apartments, and penthouses. The third building will consist of 128 units, that range from 54 sqm to 121,6 sqm. Additionally, the new building will display 173 parking places.
“Great projects are never built alone. We are grateful for the continuous collaboration with our partners as our projects are the result of common effort and dedication. Garanti BBVA has been on our side from the very beginning of THE IVY project, providing loans of almost 30 million euros. Sustainability is a core component of our development, and we are thankful to continue to attract green financing from partners with whom we share the same values. We would like to thank Garanti BBVA for trusting us, and we are looking forward to building an even stronger relationship while building projects for the future.” said Didier Balcaen, CEO and CO-Founder SPEEDWELL
“In line with our commitment to sustainable banking, we aim to engage in supporting projects which not only comply with our business criteria but have a clear positive effect on the environment and society, while encouraging economically sustainable behaviour from their end users. We take a long-term approach and proactively advise our customers to include sustainability considerations in their future business development because companies which include environmental and social aspects in their strategy have higher chances to be resilient to ESG risks and economically viable in the long term. In addition to very high energy efficiency, THE IVY project meets the highest living standards in terms of health, quality, comfort, and awareness of sustainable living among its beneficiaries. Together with Speedwell and RoGBC, we are channeling financial resources toward sustainable development while educating the final beneficiaries of these investments toward a sustainable lifestyle”, stated Bilge Demirer, Deputy General Manager at Garanti BBVA Romania.
Located in proximity to Baneasa forest, THE IVY is also well connected to the main points of interest. Designed following the Transit-Oriented Development (TOD) concept, the location allows residents to access all the necessary facilities within walking distance or a short car ride, all within a 15-minutes range. The ensemble also includes amenities such as a restaurant, kindergarten, a modern fitness centre, and proximity shops.
Moreover, together with MIRO, the company’s office project, located just under 1km away and which will be connected through a private road, THE IVY forms a mixed-use ensemble that encourages a harmonious transit between life and work environments. The mixed-use ensemble is conveniently situated close to important points of interest, such as Henri Coanda International Airport, Baneasa Shopping City, and other retail amenities, such as Mega Image, Decathlon, IKEA, and Dedeman.
THE IVY concept was awarded Excellent scoring from established companies, such as BREEAM and GreenHomes, for promoting the residents’ health and well-being by developing sustainable buildings with care for the environment. In the same direction, MIRO received the WELL Platinum certification, the highest credential for this kind of building.
SPEEDWELL’s sustainability strategy stands at the core of each project and is built on important pillars, such as customer wellness, local communities, GHG emissions, resource efficiency & land use, occupational H&S, climate change adaptation, biodiversity, and connectivity. The financing partner Garanti BBVA shares similar values in its commitment to investing in and promoting sustainable finance practices.
SPEEDWELL has finalised construction works for Building 1 and Building 2, summing up 228 units, and has either handed over or is in the process of handing over the keys to its residents. Thus, the developer is advancing the development of the third building by securing the necessary financial support to conduct the construction works as per the set quality and sustainability standards.
SPEEDWELL’s internal finance and legal teams provided full support during the process, as represented by Natalia Sarpi, the company’s CFO and Simona Alecu, Business Lawyer.
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