In a recent CIJ EUROPE interview, Andreea Dumitru, Chief Marketing Officer at Hagag Development Europe, shared insights into the company’s expanding residential portfolio in Bucharest and its strategic move into the hospitality sector. Hagag Development Europe is experiencing strong momentum in the Romanian residential market with its large-scale project, H Pipera Lake, while also marking its entry into the hospitality sector through a new partnership with Radisson Hotel Group. Andreea Dumitru, Chief Marketing Officer at Hagag, shares insights into the group’s development strategy, market response, and long-term investment vision. H Pipera Lake is Hagag’s largest residential undertaking in Bucharest, targeting the middle-market segment. Located on a generous 55,000 sqm plot with direct lakeside access, the master plan envisions 16 residential buildings and integrated community amenities. The first phase, consisting of five buildings and 435 apartments, sold out before construction was completed—a result Dumitru considers exceptional in the current market. With over half of the 450 units in phase two already reserved or pre-sold ahead of construction, the development’s appeal is clear. The project’s success stems from a strong combination of location, thoughtful design, and a holistic community concept. Future phases will benefit from enhancements based on feedback gathered during phase one, including an outdoor fitness area located on the lakeside promenades, an extra playground, and improved layouts. A first commercial building of around 1,000 sqm is set to open later this year, while additional retail spaces will be delivered with phase 3. According to Dumitru, buyers are drawn to H Pipera Lake for more than its setting. The area offers proximity to international schools and major office hubs, making it attractive to families, investors, and professionals. Apartments feature generous layouts, smart partitioning, and options like ground-floor units with private gardens—highly sought-after in the post-COVID market. Some gardens reach up to 70 sqm, often commanding prices higher than upper-floor apartments. Hagag has also introduced its own building administration services, maintaining property quality and operational efficiency long after delivery. The company handles property management through its internal teams, ensuring quick response times and long-term value for residents. This approach has been well received at other projects like H Victoriei 139, further solidifying Hagag’s hands-on model. As part of its broader growth strategy, Hagag has diversified into hospitality with the upcoming Radisson RED hotel in Bucharest. The future hotel, located on Vasile Lascăr Street in a historic building dating back to the 1940s, will be the first Radisson RED in Romania. The decision to enter the hotel segment followed a detailed feasibility study which identified a gap in the city for modern lifestyle hotels. Hagag aims to create a destination, not just a place to stay. Plans include a street-facing restaurant accessible independently from the hotel lobby, designed to attract both tourists and local residents. The project reflects a growing appetite for lifestyle-driven experiences and is expected to contribute to the revitalization of the Vasile Lascăr area. Beyond Bucharest, Hagag is exploring hotel investments in the mountains, prioritizing year-round destinations over seasonal ones like the seaside. The company is evaluating both new developments and the adaptive reuse of historical properties, including a complex project on the Susai plateau in Predeal. A master plan has already been developed, with concept finalization and permitting expected in the next two years. Dumitru emphasizes that these expansions are part of Hagag’s strategy to build a balanced portfolio across multiple asset classes, helping to mitigate market risks and ensure long-term sustainability. The group continues to invest across residential, commercial, office, and now hospitality segments—while remaining open to future moves into industrial real estate. With over 1,400 units planned at H Pipera Lake alone and a growing presence in both city and mountain hospitality markets, Hagag Development Europe is positioning itself as a diversified, future-ready developer with a strong focus on user experience, community, and value creation. In addition, Hagag has recently expanded its commercial office footprint by acquiring a stake in a mixed-use building near Herastrau Park, in partnership with Nero Investment Group, owners of Grand Hotel Bucharest and Corinthia Grand Hotel du Boulevard. The building, currently undergoing refurbishment, will deliver 5,000 sqm of office space and 1,100 sqm of ground-floor retail. Completion is expected by September, with leasing discussions already underway for about 2,000 sqm. This marks Hagag’s first formal joint venture structured under a classical JV format. © 2025 Roberts Publishing SRL