The European Investment Bank (EIB) has signed over €500m in unsecured credit to German municipal housing company HOWOGE to build 3,200 residential units in Berlin by 2029. Half of the units will be subsidised.
It’s the EIB’s biggest outlay in financing for housing in Germany in a decade, and is supported by the European Union’s InvestEU programme.
Jörg Kotzenbauer, HOWOGE’s managing director, said: “With the EIB, we are gaining a strong European financing partner at our side.
“Especially in times of tight housing markets, this sends a clear signal of social responsibility and long-term stability. At the same time, the partnership gives us access to favourable financing conditions, even in the current challenging market environment.”
Nicola Beer, EIB vice president, said: “With this new partnership with HOWOGE, we are supporting the construction of thousands of new homes across Berlin, affordable, energy‑efficient and fit for the future.
“This project will help reduce energy bills for residents, boost growth and jobs, and strengthen the economic momentum of Germany’s capital.”
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