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Hagag raises money for further Bucharest investment

Alex Hayes 07 May 2018

Alex Hayes


+48 22 356 25 20

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

ROMANIA Hagag Development Europe has recently launched an IPO on the Tel Aviv stock exchange covering its projects to be developed in Romania.

The IPO’s value is EUR 15 mln. Following just few weeks after the listing, the offer went up by more than 0.7 pct of its initial trading value.

Hagag is planning a series of further acquisitions targeting landmark buildings and land plots in Bucharest's prestigious areas.

"Hagag Development Europe's association to Hagag Group Israel is an excellent kickoff point for all Israeli investors that might be interested in the projects that we are developing in Romania. Our portfolio is constantly expanding and in order to deliver premium projects we need to have access to as much material resources as possible. Furthermore, through this IPO we offer stakeholders the opportunity to trade their assets in an efficient and organised environment", says Yitzhak Hagag, the president of the Hagag Group Israel.

The company is considering future listings on stock exchanges across Europe and beyond.

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