Israeli Hagag Development launches a luxury residential project on Primăverii

Newsroom 18/06/2018 | 14:12

Israeli developer Hagag Development Europe, part of Hagag Group, announced a new project on the luxury apartment market in Bucharest: H Eliade 9 Residence, located in Primaverii area on Mircea Eliade Boulevard.

Eliade 9 Residence will be developed on a 2,000 sqm plot. The assembly will have a total built area of approximately 6,000 sqm built. The project will benefit from a G + P + 4 + 5R height regime and will accommodate 35 exclusive apartments, served by 70 underground and ground parking lots.

At present, 25% of units are already booked.

“We are confident in the ability of the Romanian market to attract investment in the real estate sector, and we are also aware that real estate has to be in line with current trends. Based on these considerations, we intend to focus on delivering projects covering both residential and office buildings. Adjacent to the ongoing projects, we are planning new developments and continue to maintain our interest in luxury projects, adding H Eliade 9 Residence to our portfolio, “said Yaghak Hagag, president of the Hagag Group Israel.

Currently, Eliade 9 Residence is in the design phase and the completion of the works is planned for 2020. Hagag Development Europe has the ability to identify current market trends by investing in its projects not just time and resources but also the know-how accumulated in the 15 years of group experience.

The company’s portfolio in Romania currently includes five properties: two plots of land in the Pipera area, a land in the Spring area, and two buildings located on Calea Victoriei which will receive a total investement of EUR 150 million.