Guaranteed BBVA granted the first green real estate development loan to Speedwell for The Ivy project
Guaranteed BBVA has granted the Belgian developer Speedwell a green loan for a residential project certified by the Romania Green Building Council (RoGBC) according to international GREEN HOMES standards for phase 1 of THE IVY – the new residential project located in the northern area of Bucharest .
The green residential projects benefiting from this type of financing offered by Garanti BBVA in cooperation with RoGBC reflect the bank’s commitment to sustainability, also proven by the offer of other green financing products available to customers of the bank, such as the Eco House mortgage loan.
The international GREEN HOMES certification (in the EU, South America, Africa, Asia) includes additional requirements to those imposed by the European taxonomy, being designed specifically to improve the sustainability of the residential sector. So far, more than 16,000 homes have been pre-certified/certified in Romania, with project values approaching 3 billion euros. The GREEN HOMES certification of residential buildings goes beyond other green rating systems requiring, in addition to environmental criteria in line with EU taxonomy, indoor air quality and radon level testing prior to installation. occupancy, building occupancy monitoring, biological waste management, fire resistance, monitoring in the post-construction and operational phases, owners’ awareness of green standards and energy optimization.
RoGBC developed the Green Technical Criteria and recently completed an initiative supported by the European Commission to expand the program to eleven additional European countries. The organization has offered Speedwell the necessary advice and verification in the certification process and will provide ongoing independent monitoring support on the post-construction and operational stages to both the bank and the developer.
Garanti BBVA has partnered with RoGBC to offer qualified green finance products including retail mortgages and investment loans.
The bank joined the Romania Green Building Council in 2017, becoming a Platinum member in 2022, with the aim of further supporting the common goal of creating a more sustainable real estate sector in Romania and internationally.
Speedwell has voluntarily registered for the Green Homes assessment. A Green Homes certified project has many advantages for both owners and residents of urban areas. For THE IVY, this translates into a lower cost of living, a healthier environment focused on the well-being of residents, as well as the opportunity to benefit from a green mortgage that offers a better interest rate and better contract terms.
“After the launch of the green loan for new owners, the green loan for developers is in line with our principles of supporting businesses and projects with bank financing that have a positive impact on the environment and quality of life. In addition to very high energy efficiency, THE IVY project meets the highest standards of living in terms of health, quality and comfort, as well as the awareness of a sustainable lifestyle among its beneficiaries. In collaboration with Speedwell and RoGBC, we channel financial resources towards sustainable development while educating the end beneficiaries of these investments towards a sustainable lifestyle. said Çağri Memişoğlu, deputy general manager of Garanti BBVA Romania.
“The green financing for construction developers as well as the green mortgage provided to home buyers offer the full spectrum of financial benefits of environmental and social performance in Romania. This positions Garanti BBVA at the forefront of financial innovation for sustainability at European level.
RoGBC has awarded Preliminary GREEN Homes Certification to The IVY by Speedwell based on extensive independent verification of specific GREEN HOMES requirements which will be monitored during the construction and operation phases. Elena Rastei, Certification Manager, Romanian Council for Sustainable Building.
“Speedwell’s goal is to build durable, quality projects that users can enjoy for many years from now. Our developments are our heritage and we want to deliver them in the right way. Having the right partners in our quest towards this goal has always made the difference. We are grateful for the support we have received from Garanti BBVA and the Romanian Council for Sustainable Building. This will make a difference for THE IVY and the Bucharest real estate market,” said Didier Balcaen, CEO and co-founder of SPEEDWELL.