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UAE-based Hilshaw group secures 380 mln euro for real estate project in Tirana

UAE-based Hilshaw group secures 380 mln euro for real estate project in Tirana Gena96/Shutterstock.com

TIRANA (Albania), January 27 (SeeNews) - UAE-based real estate investor Hilshaw Group said it has secured 380 million euro ($425.5 million) from the Pan European Carbon Fund (PECF) to implement a smart city project in Albania.

The project, the group's third of its kind, has the aim to speed up decarbonisation through the use of new technologies, Hilshaw Group said in a Facebook post on Monday.

Company officials did not respond to a SeeNews request for more details.

PECF has allocated the funds for a smart city that will be built on over 300 hectares in Tirana, Dubai-based daily Khaleej Times reported on Monday.

The Pan European Carbon Fund (PECF) is a carbon credit issuance fund directed towards the development of sustainable Smart Green Cities across the world.

($ = 0.8932 euro)

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