December 3 (SeeNews) - Israeli-owned real estate developer Hagag Development Europe said on Thursday it has signed an agreement with Global Vision for property management services at its residential project H Pipera Lake.
Global Vision will run the property located on the shore of Lake Pipera, in northern Bucharest, Hagag said in a press release.
Hagag will ensure, through Global Vision, the management of the buildings and common spaces inside the complex, technical maintenance, implementation of safety and security procedures, as well as cleaning services.
Construction works for the first phase one of H Pipera Lake project are expected to be completed in the last part of next year. The first phase comprises five apartment buildings of which three have already an occupancy rate of 80%.
Hagag began works on the 90 million euro ($109 million) residential project in August 2019. H Pipera Lake will comprise 1,350 apartments distributed in 17 buildings. In May this year, Hagag signed a similar agreement with Global Vision for property management services at its office building H Victoriei 109.
Hagag Development Europe is a real estate developer specialized in residential and commercial projects in Romania. The company is involved in the acquisition, development and renovation of several buildings and projects involving more than 200 million euro invested in Bucharest's top development areas.
Global Vision is a Romanian company founded 17 years ago by Sorin Preda. It has developed and built over 1.6 million sq m and is currently developing business parks worth a total 500 million euro.
($ = 0.9096 euro)