AIB has provided £12.25 million of funding to Oakland, the developer behind room2 Belfast, one of the greenest aparthotels in Europe.
The funding from AIB to Oakland reflects the shared ambition of both organisations to accelerate sustainable development in Northern Ireland. By backing innovative projects that combine commercial strength with leading ESG credentials, AIB and Oakland are helping to drive meaningful progress in the low-carbon economy.
room2 Belfast is recognised internationally for its sustainability performance, operating as a 100% electric building powered by renewable energy, and holding WELL Building Standard Platinum certification, an Energy Performance Certificate A rating, Green Tourism Gold Award and B Corp status. Together, these credentials further demonstrate Oakland’s commitment to sustainable and responsible business practices.
Oakland, led by CEO Gareth Graham, has established a reputation for delivering high-quality and forward-thinking developments. The company is also the developer behind Merchant Square in Belfast city centre, the largest single-let commercial property deal completed in Northern Ireland history. Merchant Square, which won Royal Institution of Chartered Surveyors (RICS) and Construction Excellence Awards (CEF) awards in 2022 and carries a Building Research Establishment Environmental Assessment Method (BREEAM) Excellent rating, is PwC’s main UK headquarters outside of London.
Gareth Graham, CEO of Oakland, commented on the investment: “At Oakland, sustainability is not an afterthought, it is central to everything we do. room2 Belfast is a clear example of how we can deliver a commercially successful development while also setting new standards for environmental performance.
We are pleased to have partnered with AIB, whose commitment to funding green and future-focused projects is fully aligned with our own vision for innovation and sustainability in Northern Ireland.”
Seamus McGuckin, Head of Corporate Banking Northern Ireland at AIB, said: “AIB is committed to playing a key role in advancing sustainable development and supporting clients who share that ambition. Oakland has demonstrated real leadership in delivering a building that is both commercially strong and one of the most sustainable aparthotels in Europe.
We are proud to provide the investment loan that underpins this landmark project and to stand alongside Oakland in advancing Northern Ireland’s sustainable future.”
The significant refinancing was overseen by Radius Corporate Finance. Brian Loughan, Director at Radius Corporate Finance added: “After we managed a competitive process during Spring 2025 involving more than 20 possible lenders, AIB was selected to be funder for the refinance. We worked closely with AIB to deliver a very competitive and tailored proposition which is reflective of the values of both Oakland and AIB.”