BAKU, Azerbaijan, March 27. Kahramanmaraş Piazza shopping center, operated by Rönesans Gayrimenkul Yatırım A.Ş. (RGY), is set to receive a senior loan of 30 million euros from the European Bank for Reconstruction and Development (EBRD), Trend reports.
According to the EBRD, the funding will support capital expenditure for the Kahramanmaraş and Şanlıurfa Piazza shopping centers, contributing to the preservation of human capital and livelihoods in the region.
RGY, the commercial-real-estate-development and investment subsidiary of Rönesans Holding, boasts a robust asset portfolio comprising 16 properties valued at 2.6 billion euros as of the conclusion of 2023.
As Türkiye's foremost commercial real estate investment group, RGY oversees its own array of managed projects.
Furthermore, the financing will be secured with a financial guarantee provided by the EU.
Through the European Fund for Sustainable Development Plus (EFSD+), sustainable investments in both the EU neighborhood and Türkiye are facilitated, with a focus on sectors such as infrastructure.
Meanwhile, the EBRD is one of the key investors in Türkiye, with almost 19.5 billion euros invested in 440 projects and trade facilitation lines since 2009, the majority of them in the private sector.
