Real estate developer HAGAG Development Europe starts construction works on its property near University square in Bucharest. H Tudor Arghezi 21 is the second office project that the company is developing on the local market, and the investment in the reconversion of the building will exceed EUR 4 million. The project is fully leased.
Located right in the city centre, at kilometre 0, the building dates back in 1966 and has a total built area of 6,975 square meters and over 4,580 sqm total leasable area, 10 parking spaces, exceptional exposure and visibility and a height regime of B+DB+GF+7F.
“We continue our investments in the niche segment of reconversion of old buildings and we are confident that our projects will place Bucharest’s city centre back on the investors map, as well as in the focus of elitist companies interested in relocation. Once completed, H Tudor Arghezi 21 will have all the necessary attributes to create a perfect architectural fusion between the existing heritage buildings in its perimeter and modern developments; it is an ambitious project, and the privileged location will allow us to create a vibrant urban environment around it and reposition the city centre in the top desirable locations when talking about the office market.”, said Yitzhak Hagag, Chairman & Board Controller Hagag Group.
