The real estate developer Hagag Development Europe, has signed a purchase contract worth EUR 2,500 per sqm for a plot of land next to Bucharest’s State Circus, on which it plans to build a residential complex. The land has an area of 3,198 sqm and was contracted by Hagag from the company Top Residence TD.
At the time of signing the purchase contract, Hagag paid EUR 2.5 million of the agreed EUR 8 million price, with the main sum of money to be paid when Top Residence TD obtains the building permit.
Hagag’s plan is to become the owner of the land and enter into a development partnership with Top Residence TD to develop a residential and commercial project with a built-up area of about 12,800 sqm distributed in two buildings, one with 11 floors and the other with 8 floors and comprising about 80 premium apartments, about 850 sqm of commercial space and about 113 parking spaces.
Source: Profit.ro
