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SPEEDWELL has secured a green loan from BRD Groupe Société Générale for PALTIM Residential in Timisoara

The residential component of PALTIM, the mixed-use ensemble SPEEDWELL is developing in Timisoara, has received a green loan from BRD Groupe Société Générale. SPEEDWELL and BRD have signed a loan agreement for 24,320,000 EUR, financing for the development of two green residential buildings.

SPEEDWELL and BRD Groupe Société Générale have recently signed a financing agreement for a green loan the developer is going to use for the two residential buildings in the PALTIM project.

BRD is supporting SPEEDWELL in its ESG strategy by granting the developer a 24,320,000 EUR green loan.

Both SPEEDWELL and BRD Groupe Société Générale share a common goal, that of creating a greener future, in accordance with the latest standards when it comes to each line of business.

“We believe in building sustainably, and we are grateful to have partners that share the same values. Thanks to BRD Groupe Société Générale the financing for the project has been secured and we are one step closer to seeing this project finalized. PALTIM is a project built with respect for its history, and perspective towards the future.”  mentioned Didier Balcaen, CEO and Co-Founder at SPEEDWELL.

“This is an important milestone for our company and the community, and we are grateful for the support of our partners and investors who share our views on ESG standards and sustainable business practices.”, stated Natalia Sarpi, CFO of SPEEDWELL.

The residential market is currently one of the most attractive in terms of green financing in Romania, and BRD is fully prepared for the role of financing or green structuring bank. We are happy to contribute to the success of this new project to be developed by Speedwell, one of our traditional clients, and we reaffirm our preparedness to finance the green transition of Romanian companies.“, said Maria Rousseva, BRD Deputy CEO in charge of corporate banking activities.

PALTIM, SPEEDWELL’s first project in Timisoara, is a mixed-use ensemble consisting of multiple components: residential, office and retail. The project is completed through the restoration of two historical buildings, part of the former PALTIM factory and the development of new public spaces for the community.

The two residential buildings of PALTIM will offer a total of 236 apartments, built in two phases. The first building is estimated to be delivered to its owners in Q1 2024. Works for it kicked off during the summer of 2022, with STRABAG as General Contractor, and are rapidly evolving.

The project is being built respecting the nZEB standards, making sure that the future homeowners will benefit from energetically efficient apartments, with limited impact on the environment.

PALTIM has an excellent location, right on the banks of the Bega River and a few minutes walk away from the city centre.

The project introduces a high-end concept made to reinvent modern urban living with the two residential buildings featuring studios, 2, 3 and 4-room apartments with premium finishes and high-end design.

 

About SPEEDWELL

SPEEDWELL has a large portfolio of developments in Romania that includes RECORD PARK in Cluj-Napoca, TRIAMA Residence, The IVY, MIRO, THE MEADOWS, CITYZEN, and SPACEPLUS in Bucharest, PALTIM in Timisoara, and RIVERSIDE City in Ramnicu-Valcea.

For further information, please contact:
Elena Dumitru, Marketing Manager at Speedwell
+40 747 494 216
[email protected]

ESG Report 2022