Release date: 20 August 2015
Promoter – Financial Intermediary
SAGA SIEDLUNGS-AG HAMBURG, GWG GESELLSCHAFT FUER WOHNEN UND BAUEN MBHLocation
Description
The proposed investment loan with SAGA GWG will be the second project with the City of Hamburg's social housing company for the financing of retrofitting and new construction of social housing and associated infrastructure.
Objectives
Rehabilitation and construction of urban and social infrastructure in selected districts of Hamburg. The housing investments will need to satisfy the EIB's eligibility criteria for urban renewal and sustainable communities.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 300 million
Environmental aspects
Compliance with the relevant EU Directives will be verified during appraisal: EU EIA Directive 2011/92/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project appraisal.
Procurement
The promoter does not operate in the utilities sector, does not have the status of a contracting authority and operates in a competitive environment. Thus, it is not covered by the EU directives on procurement. Details for the awarding of the contracts will be further examined during appraisal.
Status
Signed - 23/12/2015
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).