Israeli group invests EUR 90 mln in residential project in Bucharest

Israeli real estate developer Hagag Development Europe plans to invest over EUR 90 million in its first residential project in Bucharest. The project is called H Pipera Lake and is located on a 5.7-hectare plot on the shore of lake Pipera, in Northern Bucharest. It will include a built area of 57,000 sqm, namely 1,350 studios and 2- and 3-room apartments, which will be built in three phases. The apartments will be grouped in 17 buildings and will also have 1,600 parking spaces. The first five buildings, which will include 390 apartments, will be delivered in the second half of 2019. Hagag Development Europe is a real estate developer specialized in residential and retail projects in Romania. editor@romania-insider.com