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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Update: Hagag Development plans to buy iconic hotel in Romanian Black Sea resort

Israeli-owned real estate developer Hagag Development Europe, controlled by businessman Yitzhak Hagag, plans to buy the iconic Rex Hotel in the Black Sea resort of Mamaia from the family of Carmen Palade - the ex-wife of businessman Dan Adamescu, according to Profit.ro sources.

Romanian businessman George Becali attempted to buy the former five-star beachfront hotel, worth about EUR 10 mln, in 2018, but gave up due to the "complicated situation of the documents," according to sources familiar with the deal contacted by Profit.ro.

The investments in the renovation of the hotel, affected by a fire in 2011, are estimated at EUR 8-10 mln. Consequently, the sources commenting for Profit.ro estimate the sale price of the property at about 3 million.

"Hagag Development Europe has ambitious plans for Romania. We aim to strengthen our position locally, both in terms of existing assets and geographically. In this context, we are actively prospecting the market, and we are looking carefully at several properties or lands with potential, suitable for residential or office projects, but also hotels," the company's representatives told Profit.ro.

(Photo: Anton Skavronskiy | Dreamstime.com)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Update: Hagag Development plans to buy iconic hotel in Romanian Black Sea resort

Israeli-owned real estate developer Hagag Development Europe, controlled by businessman Yitzhak Hagag, plans to buy the iconic Rex Hotel in the Black Sea resort of Mamaia from the family of Carmen Palade - the ex-wife of businessman Dan Adamescu, according to Profit.ro sources.

Romanian businessman George Becali attempted to buy the former five-star beachfront hotel, worth about EUR 10 mln, in 2018, but gave up due to the "complicated situation of the documents," according to sources familiar with the deal contacted by Profit.ro.

The investments in the renovation of the hotel, affected by a fire in 2011, are estimated at EUR 8-10 mln. Consequently, the sources commenting for Profit.ro estimate the sale price of the property at about 3 million.

"Hagag Development Europe has ambitious plans for Romania. We aim to strengthen our position locally, both in terms of existing assets and geographically. In this context, we are actively prospecting the market, and we are looking carefully at several properties or lands with potential, suitable for residential or office projects, but also hotels," the company's representatives told Profit.ro.

(Photo: Anton Skavronskiy | Dreamstime.com)

andrei@romania-insider.com

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