Property company Hagag Development Europe has taken over a land plot of 1,362 sqm in the high-end area of Primăverii in Bucharest for €8 million plus VAT.
The payment will be made in two installments, according to a statement submitted by seller Practic SA to the Bucharest Stock Exchange (BVB). The land plot is close to Charles de Gaulle Square. In 2019, Hagag made a separate purchase of land in the same area for the development of a luxury residential compound.
Practic SA has sold another land plot of 27,845 sqm in Poiana Brașov to Onix Residence, which is owned by businessman Mohamad Murad, for €2.64 million.
Shares in Practic SA were up 2.5% to 820 lei on Friday evening trading on the BVB. The company is owned by businessperson Radu Dimofte.
