Hagag Development Europe gets building permit for H Victoriei 139 project in Bucharest

Real estate developer Hagag Development Europe, part of the Hagag Group Israel, obtained building permit for H Victoriei 139. The budget allocated for the consolidation and modernization of the building is 10 million Euro and the construction works are scheduled to begin in the next two months. Completion is estimated in Q4 2020. With a total GBA of 3,200 sqm, the building will deliver 33 units consisting of 2, 3 and 4 rooms displayed on height of UGF + 6F + 7/8R.

“Although it is not the first and will certainly not be the last, H Victoriei 139 is, for us, a challenge. The renovation and fortification of an old building often involves a much more difficult path to follow than the development of a new, zero-stage project. Nevertheless, we are talking about a construction that is part of the tangible past of a community, and H Victoriei 139 is conceived and designed in such a way as to preserve the cultural identity reflecting from one of the most fascinating epochs that Bucharest has witnessed. The facade of the edifice will preserve its original architecture, and the resistance structure of the building will be fully reinforced, thus eliminating all existing vulnerabilities. The building will display an impressive lobby and commercial spaces with street-view orientation, designed by our partners from the architecture office Razvan Barsan & Partners”, declared Yitzhak Hagag, Chairman and board controller Hagag Group.

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 150 million Euro invested in Bucharest’s top development areas.