Hagag Development Europe buys building in Bucharest

The building covers a surface of ​​more than 1,000 sq m and has gross built area of over 6,000 sq m of office spaces, displayed over seven levels, Hagag said in a press release. The value of the transaction was not disclosed.

Hagag Development Europe is specialized in residential and commercial and hotel projects in Romania. The company is involved in the acquisition, development and renovation of several buildings and projects located in luxury and development areas of Bucharest and other major cities in Romania.

On the office segment, Hagag has so far developed the Victoriei 109 and H Tudor Arghezi projects in Bucharest, while on the residential segment, it has developed the Pipera Lake. Victoriei 139 and Eliade Apartments projects, also in Bucharest.

In November, Hagag announced that it plans to invest some 60 million euro ($66 million) in an overhaul of Susai Hotel in the Romanian mountain resort of Predeal which it has acquired for an undisclosed sum.

($=0.9094 euro)