Yitzhak Hagag, Co-founder & Chairman of Hagag Development Europe, spoke to Property Forum about the firm's strategic focus on diversifying into hospitality and energy while maintaining strong growth in its core office and residential segments. He noted that rental income rose by 32% as the company prepares for major luxury retail and hotel project deliveries.

Hagag has diversified its operations in Romania by entering the energy sector through the acquisition of BTD Distribuție și Furnizare, a Romanian company specialising in natural gas infrastructure development, distribution, and supply.

Hagag Development Europe has partnered with Radisson Hotel Group to launch its first hotel in Bucharest under the Radisson RED brand. 

Hagag Development Europe has announced the acquisition of 50% of a multifunctional building near Herăstrău Park, as part of a partnership with Niro Investment Group.   

Hagag Development Europe is preparing to reopen the Știrbei Palace on Calea Victoriei, in H2 2025, as a luxury department store. 

Yitzhak Hagag, Co-Founder and Shareholder, Hagag Development Europe, spoke with Property Forum about the increasing demand for the company’s boutique office buildings in central Bucharest and the strong sales book for its residential developments in the city. The company has a development budget totalling €195 million.

Hagag Development Europe has purchased a residential complex under development in Eastern Bucharest, located on a former industrial platform.

Hagag Development Europe has withdrawn from negotiations with SNC-Lavalin for the purchase of an office building in Bucharest, in a deal estimated to have reached over €8 million.

Hagag Development Europe has kicked off the construction works for the consolidation and repurposing of Știrbei Palace on Calea Victoriei. The building will be transformed into H Știrbei Palace, the company's first retail project in Bucharest.

Yitzhak Hagag, Co-Founder and Shareholder of Hagag Development Europe, spoke with Property Forum about the ongoing developments in Romania and the company's plan to invest around €130 million in the local property market in the upcoming years. Hagag also outlined the growing potential of the newly launched private offices division, which has already reached an occupancy rate above 60%.