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Poseidon plans two retail parks
M7 expands in Hungary


EBRD funds Hystead modernisation

Alex Hayes 02 March 2018

Alex Hayes


+48 22 356 25 20

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

EBRD funds Hystead modernisation
Hystead is the owner of Delta City in Belgrade
SEE REGION The European Bank for Reconstruction and Development and the Internatioal Finance Corporation have extended loans to Hystead worth EUR 164 mln. Hystead owns Delta City shopping malls in Belgrade and Podgorica as well as Skopje City Mall.
The financial package includes a EUR60 mln loan from the EBRD and a EUR 104 mln loan from IFC. IFC’s financing includes a EUR 60 mln “A” loan from IFC’s own account and a loan of EUR 44 mln from IFC’s Managed Co-Lending Portfolio Program (MCPP). Funding for the loan under IFC’s MCPP is provided by the People’s Bank of China. The funds will refinance an existing loan and improve the company’s capital structure. They will also support the expansion and upgrade of the three shopping centres. Upgrades will focus on adopting international environmental and social standards, implementing green building practices, efficient use of energy, rational water and resource management, waste minimisation and recycling, as well as the use of high-performing equipment and technologies. These improvements will enable the company to certify the retail centres under an international sustainability scheme. The retail centres in Skopje and Podgorica will be the first ones in their respective countries to receive such certification. Their example will pave the way to more sustainable building management in the region. Hystead CEO Alex Papageorgiou says: “We are pleased to partner with the EBRD and IFC and their loan is testament to the quality of Hystead’s portfolio and asset management expertise. We strive to create value for stakeholders, while balancing our impact on the environment and the communities in which we operate; this is evident through our planned commitment to sustainable building management and youth development programmes.”

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