Hagag Development Europe Resumes Construction on H East Residence Following Design Update Approval

Real estate developer Hagag Development Europe has received the building permit for a revised project brief for its H East Residence residential complex. The company is resuming construction on the four buildings planned for Phase I, with an estimated completion time of 18 months. Currently, 50% of the units available for sale are either pre-contracted or reserved.

The first development stage involves an investment of €43 million and will deliver 273 apartments distributed across three 11-storey buildings (2B + GF + 11F) and one 6-storey building (2B + GF + 6F). The buildings will be supported by 400 underground and surface parking spaces, 2,000 sqm of commercial areas located at ground level, EV charging stations, a children’s playground, and over 2,000 sqm of green spaces.

“We are pleased to announce that Hagag Development Europe has received the green light for the updated project brief and is now moving forward with implementing the corrections and improvements proposed by our team for this development. Reopening the site comes at a favorable time, with more than 50% of available units already pre-contracted or reserved, and with a significant volume of new interest,” said Andreea Dumitru, Chief Marketing Officer at Hagag Development Europe.

“This strong performance has encouraged us to base our sales strategy on highly optimistic projections. We expect to maintain a fast pace of sales in the coming months and aim to fully sell Phase I by the end of next year.”

The structural framework of the four Phase I buildings is 90% complete. In the coming months, the developer will focus on implementing the project changes, which include façade aesthetics, spatial optimization, reconfigured interior layouts, infrastructure updates, finishes, installations, and the integration of sustainability features.

The H East Residence development covers a plot of over 17,500 sqm and is being built in two phases.