The European Bank for Reconstruction and Development is investing EUR 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% 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 revitalization of underutilized 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 Sangusku 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 center in Vilnius,” said RELEVEN CEO Saulius Merkys.
Horizontai is a commercial and residential building complex located at 59 Lvivo Street, with a total investment of up to EUR 200 million. It is expected to transform the right bank of the Neris River into the new center 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 Zabolis 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,” said Alvydas Zabolis. “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 strong belief in building the future in this city.”
Real estate developer RELEVEN is part of the Zabolis Partners investment community and is actively investing in the creation of a sustainable city. Completed projects include the 3 Bures business center on Konstitucijos Avenue, and residential projects with administrative premises such as Kalinausko 20, Zveryno Lapes, and the reconstruction of the Gallery 4A building next to the MO Museum, among others.
