News Article Bucharest H Știrbei Palace Hagag residential Romania
by Property Forum | Office

Hagag Development Europe says it has submitted the complete documentation in order to obtain the building permit for the consolidation and restoration works on Știrbei Palace, a historical building located in central Bucharest. 

The developer has successfully completed all legal stages prior to receiving the authorization to build and has attained the necessary approvals and agreements, including from the Romanian Academy and the Ministry of Culture. 

“Given the historical and architectural importance of the building, but also the urgency of the proposed interventions, necessary to prevent the aggravation and permanent alteration of the resistance structure and facades, we are confident that we will have the full support of the competent authorities and receive the building permit for the consolidation and renovation works of the Palace within the term provided by the current law, without delays,” say company representatives. 

Hagag aims to obtain all permits for the development of H Știrbei Palace, which will feature a high-end gallery and additional spaces for events and exhibitions. The project to restore and consolidate the historic building has an investment budget of around €20 million. 

The developer has a portfolio of delivered and ongoing projects with a combined investment of more than €200 million.