Hagag Development Europe started construction on its H Victoriei 109 office project in central Bucharest. The developer will invest more than €8m in the scheme which includes consolidating, remodeling and upgrading the site’s existing 6,000 sqm building. Work is scheduled for completion in the second half of next year. The developer is part of Hagag Group Israel, which was established in 2003 and this spring launched a €15m IPO on the Tel Aviv Stock Exchange to help fund projects in Romania.
