Stirbei Palace could reopen in the fall, with luxury stores

Hagag Development Europe, the owner of the Stirbei Palace on Calea Victoriei, began the consolidation and renovation works of the Stirbei Palace in October 2023, and is currently heading towards completing the works and hopes to open the famous historical monument on Calea Victoriei to the public, in a "department store" format, with shops, but also a restaurant.

"We are advancing with the works and are getting closer to completion. In an optimistic scenario, we hope to invite Bucharest residents to come shop on Calea Victoriei in H Ştirbei Palace in September," said Andreea Dumitru, Chief Marketing Officer, at Hagag Development Europe.

According to Andreea Dumitru, upon completion of the works, the new shopping and relaxation destination on Calea Victoriei will offer 4,000 square meters of commercial space, which will be occupied by premium and luxury brands, and the company hopes to soon finalize negotiations to bring in a restaurant operator. About 75% of the commercial space is already pre-leased.

In terms of the investment value, the developer has stayed within the initially allocated budget of 20 million euros. The general contractor carrying out the works is the Romanian company BTDConstruct & Ambient.