Hagag to acquire 110000 sq m industrial truck platform in Brașov

Hagag Development Europe has signed a memorandum of understanding with the aim of acquiring buildings with a cumulative area of ​​110,000 square meters, part of the Roman Brașov industrial truck platform. The transaction may become the largest concluded this year on the land market.

The buildings are to be demolished, and in their place a mega real estate project is planned to be developed, worth over EUR 200 million. The agreed price for the sale of the property is EUR 23 million, plus VAT.

The parties have agreed that the price will be paid in 4 installments, and Hagag can obtain a price reduction if it makes advance payments.

The seller of the land is in an advanced stage of approving a new Urban Zonal Plan (PUZ). This plan proposes the construction of approximately 1,800 homes, 13,000 square meters of commercial space, approximately 8,000 square meters of office space and approximately 2,000 parking spaces. The estimated development cost of such a project is over EUR 200 million.

Source: Profit.ro