Real estate investor-developer Hagag Development Europe has received a new building permit allowing the company to upgrade the façade design and optimise interior partitions for H East Residence. Construction works on the four residential buildings in phase I will resume in the following days, with an estimated completion timeline of about 18 months. To date, 50 percent of the units available for sale are pre-contracted, respectively reserved.
Phase I will be completed following an investment of €43 million and will deliver four mid-rise buildings with six- and eleven-storey, comprising a total number of 273 apartments served by 400 underground and above-ground parking spaces, 2,000 sqm of commercial space, charging points for electric vehicles, a playground and over 2,000 sqm of green areas.
“We are pleased to announce that Hagag Development Europe has received the green light to implement all corrections, improvements, and upgrades related to the project’s initial design theme, as proposed and submitted by our team when taking over the compound last year. We are resuming the site in a very favourable context for our company, as over 50 percent of the units available for sale are now pre-contracted, respectively reserved, while our team is dealing with an increasing demand volume. This is an outstanding progress that encourages us to build our sales strategy on a positive forecast. We expect to keep this brisk pace of sales in the upcoming months as well, and deliver a sold-out phase I by the time of completion,” said Andreea Dumitru, Chief Marketing Officer at Hagag Development Europe.
With the resistance structure of the four buildings in Phase I nearing completion – now at 90 percent, the developer’s attention during the next 18 months will be focused on implementing all upgrades that the company has brought to the project in terms of façade aesthetics, layouts optimization, interior partitioning, infrastructure, finishes, fittings, equipment, and sustainability features.
H East Residence spreads over a land plot of more than 17,500 sqm and is being developed in two construction phases. Once completed, the project will deliver seven condominiums with 568 residential units ranging from studios to three-bedroom apartments, 824 parking spaces, approximately 5,200 sqm of green space, playground and relaxation areas, retail areas, electric vehicle charging points and four access ways designed with the future residents’ comfort, well-being, and ease of access in mind.
