Real estate developer Hagag Development Europe, part of Israeli Hagag Group, invests over EUR 90 million in its first project in Bucharest – H Pipera Lake, a press release informs. Moreover, the company is involved in the acquisition, development and renovation of several buildings and projects involving more than EUR 150 million invested in Bucharest’s top development areas.
Located on the shores of Lake Pipera, H Pipera Lake is the largest residential project that the company is developing in Romania.
The residential complex will be built on a 57,000 sqm land plot and will deliver a total of 120,000 built sqm, over three construction phases.
H Pipera Lake has as its head architect Razvan Barsan +Partners Architecture Office and will deliver 1,350 residential units ranging from double studios to 2 bedroom apartments, disposed in 17 buildings with a height regime of UG + GF + 6F + 7R. Furthermore, it will offer to its inhabitants more than 1,600 parking spaces and private gardens for the ground floor apartments.
”The first apartments will be listed for sale at the Real Estate Salon that is to be held at the Parliament Palace, on the 2nd, 3rd and 4th of March. During these 3 days we will present a series of special offers to our first buyers,” Andreea Hamza, Marketing Manager of Hagag Development Europe stated.
The construction works for H Pipera Lake are estimated to start this spring and the first 5 buildings with a height regime of GF + 6F + 7R will deliver a number of 390 apartments. The apartments will benefit of built areas starting from 55 sqm up to 97 sqm. The first buildings will be delivered in the second half of 2019.
Established in 2003, Hagag Group acts as an international investor specialized in the development, management and marketing of real estate projects. The company is responsible for the implementation and development of a considerable number of unique projects located in the most attractive locations of Israel.
Over the years Hagag Group has received various awards and distinctions, being chosen as one of the top four real estate companies, counting over 50 successful projects in the metropolitan area of Tel Aviv, with thousands of luxury residential units sold.