Israeli group Hagag Development Europe has received the building permit for the Victoriei 139 residential project, consisting in the consolidation and refurbishment of an old building located in the central area of Bucharest on Calea Victoriei boulevard.

The project has an estimated cost of EUR 10 million and work is scheduled to start within two months and completed in the fourth quarter of 2020.

The building has a total built area of ​​3,200 sqm and will include 33 apartments with 2, 3 and 4 rooms. The property also has prime high-street retail spaces.

"The renovation and consolidation of an old building often involve a much more difficult work than the development of a greenfield project. However, we are talking about a building that is part of a community's heritage, and the project is thought and designed in a way the edifice will preserve the original architecture, while the building will display an impressive lobby and street shopping," said Yitzhak Hagag, chairman and board controller of the Hagag Group.

editor@romania-insider.com

(Photo source: the company)