Israeli-owned real estate developer Hagag Development Europe has commenced construction works on its first office project in Romania, H Victoriei 109. The developer is planning to invest over €8 million euro in the 6,000 sqm project.
The building, which used to host Petrom's headquarters, will be remodelled and upgraded. Completion is scheduled for H2 2019.
In May, Hagag launched successfully a €15 million IPO on the Tel Aviv Stock Exchange to finance projects in Romania.
