Hagag Development Europe has acquired a new office building located near Bucharest's central area with a built surface of 6,000 sqm.
The 7-story building has a history of 75 years and was built on Vasile Lascar Street, which is some 400 meters away from Bucharest's 0 km.
"This new transaction not only strengthens our presence in Romania as a long-term investor and active developer of real estate, but at the same time reiterates Hagag Development Europe's promise to contribute to the regeneration and modernisation of central areas through the conversion of old buildings with historical, cultural and heritage value," said Yitzhak Hagag, Co-founder and Shareholder of Hagag Development Europe.
The newly acquired building will be revamped by Hagag, but the developer said it was still too early to announce its future function.
Hagag Development Europe has ongoing investments in Bucharest, in the office and residential segments. The company has also made its first hotel acquisition outside the Romanian capital in late 2021.
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