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By Andra Beltz
Real estate developer Hagag Development Europe, part of Hagag Group Israel, starts construction works for its first office project: H Victoriei 109. Over 8 million euros will be invested in consolidating and remodeling the building.
Located in the centre of Bucharest, on 109 Calea Victoriei, the edifice will preserve its previous destination, being dedicated to the office segment. The building benefits from GBA 7,300 square meters, GLA 6,000 square metres, and the height regime will be maintained at G+7.
"Our property on 109 Calea Victoriei is, for the present moment, an upolished diamond. We accept that H Victoriei 109 will always be a part of the community’s past and we woul like to preserve, as much as we possibly can, the cultural heritage of the interwar period. We will restore the facade of the building as it was originally designed and we will harmonize the initial architecture of the building according to the current trends", says Yitzhak Hagag, President of the Hagag Group Israel.
"We have decided to invest in this project and focus our efforts on revitalizing the building and, implicitly, the area. H Victoriei 109 is a transformational project, and it is also an opportunity to deliver an exceptional product to the office segment. The edifice has a personality of its own that combines the elegance of the old times with what today we call "high-end" spaces. We have both the necessary experience and the know-how to exploit the full potential of the building", added Cristina Ghiță, Sales Manager, Hagag Development Europe.
H Victoriei 109 will keep intact the architectural features of the building and its façade will be restored until the reach of its original appearance. The consolidation, remodeling and upgrading works will be completed in the second half of 2019. The project will be BREEAM certified and will enjoy high energy performance, reduced operational costs and minimal impact on the environment. In addition, H Victoriei 109 will benefit from all the facilities offered by modern office buildings: floating floors, ventilation systems with fresh air intake, low energy consumption, natural light and open space areas.
Hagag Development Europe focuses on delivering premium projects that rely on sustainable development, environmental sustainability and environmental performance. The restoration and consolidation works for H Victoriei 109 will meet the highest standards, while simoultaneously targeting corporate and organizational environmental objectives.
Hagag Development Europe is a real estate developer specialized in residential and commercial projects in Romania. The company is involved in the acquisition, development and renovation of several buildings and projects involving more than 150 million euros invested in Bucharest's top development areas.
Established in 2003, Hagag Group acts as an international investor specialized in the development, management and marketing of real estate projects. The company is responsible for the implementation and development of a considerable number of unique projects located in the most attractive locations of Israel.
Over the years Hagag Group has received various awards and distinctions, being chosen as one of the top four real estate companies, counting over 50 successful projects in the metropolitan area of Tel Aviv, with thousands of luxury residential units sold.
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