Hagag Development Europe has purchased a residential complex under development in Eastern Bucharest, located on a former industrial platform.
The project rebranded as H East Residence is under development on a land plot spanning 17,500 sqm. The complex features 500 apartments and will serve the medium market segment.
“We are talking about an area that has seen, over the past three years, a significant evolution in terms of demand. At the same time, we are talking about an area where the stock of housing units is predominantly obsolete,” said Yitzhak Hagag, Co-founder, and Chairman of the Board of Hagag Development Europe.
The complex will deliver seven residential buildings serviced by 824 parking spaces, alongside more than 5,000 sqm of commercial space and around 5,200 sqm of green areas.
The first phase of the development is slated for completion in 2025. The general contractor for H East Residence is BTDConstruct & Ambient, while project management is provided by Vitalis Consulting.
