Real estate developer HAGAG Development Europe continues its investments in Bucharest by adding a new property to its local portfolio: Tudor Arghezi 21. The transaction value exceeds 9 million euro.
The property covers a plots of land of 1,507 sqm and enjoys a total built area of 7,013 sqm displayed over a height regime of UG + D + GF + 6F + 7R. The building is located right in the city centre, at kilometer zero, and benefits of 20 parking spaces, exceptional exposure and high visibility, posseing all facilities that derive from such privileged location.
“For us, 2019 was an extraordinary year: we broke ground on two important projects and we are very close to completing construction works on our first office project. We have also continued the market prospecting activities and we are pleased to announce this new investment – Tudor Arghezi 21 – which will host a new Hagag Development Europe project”, said Ana-Maria Pop, Chief Operating Officer Hagag Development Europe.
The building will maintain its original destination and will serve the office market segment. In a first stage, starting the first quarter of the following year, the bulding will undergo through an extensive transformation process. Over 4 million euro will be invested in the reconsolidation, repartitioning and modernization of the building.
“The office market will undoubtedly maintain its role as one of the important engines of the real estate sector, and our property on Tudor Arghezi street will bring Km 0 of Bucharest back in the eyes of the companies interested in relocation”, Ana-Maria Pop added.