WE ANNOUNCE CZK 1.2 BILLION LOAN FACILITY – ONE OF THE CZECH REPUBLIC’S LARGEST RESIDENTIAL DEVELOPMENT FINANCINGS

05. 10. 2017

We are pleased to announce a 1.2 billion Czech Koruna loan facility with Raiffeisenbank for financing of the first phase of the Oaks Prague project. The deal was concluded with support from our partners Karlin Port Real Estate to finance the residential part of the project.

Robert Davies, CEO of Arendon Development, said: “This is a landmark deal for Czech real estate, and a major confidence boost in the robust Czech residential market. The loan facility is a major step in moving forward with the development. The trust of a major bank in our project is greatly appreciated.”

Igor Vida, CEO of Raiffeisenbank a.s., said: “We are looking forward to cooperation on such complex and innovative project that fits well with our long-term business strategy to provide our clients with professional services and tailor-made structured products.”

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