May 28 (SeeNews) - Israeli-owned real estate developer Hagag Development Europe said on Thursday it has signed an agreement with Gobal Vision for property management services at its office building H Victoriei 109.
Global Vision will run the property located on Calea Victoriei, in central Bucharest, Hagag said in a press release.
The project has been completed and is expected to welcome its first tenants in July.
The building has a gross letable area GLA of 5,685 sq m, of which more than 85% is represented by office space, approximately 11% of retail space and 3,59% storage space.
"We trust that together with Global Vision we will increase the value and profitability of our property while ensuring the highest level of service for H Victoriei 109 tenants," Hagag Ggroup chairman Yitzhak Hagag said.
The developer expects that occupancy rate will reach 85% by the end of the year.
Hagag started work on the building in July 2018 and at the time planned to invest over 8 million euro ($8.8 million) in the project
Hagag Development Europe is a real estate developer specialized in residential and commercial projects in Romania. The company is involved in the acquisition, development and renovation of several buildings and projects involving more than 200 million euro invested in Bucharest's top development areas.
($ = 0.9096 euro)