Tuesday, 5 May 2026
Hagag Development Europe has signed a memorandum for the acquisition of an 8.6-hectare site in Constanța, marking its planned entry into the local market.
The land, formerly used as a RATC base and located opposite the Dolphinarium, is intended primarily for residential development, with capacity for more than 2,100 units. The project also предусматривает commercial, hotel and public service components and benefits from an approved zoning plan.
Under the agreement, the landowner will receive a share of completed residential and commercial units proportional to its stake in the project. The developer may also sell commercial space to third parties, with proceeds shared accordingly.
The zoning plan allows for approximately 234,000 sq m of buildable area, including around 174,000 sq m for residential use, 10,000 sq m for a hotel and 7,000 sq m for public services, as well as roughly 2,500 parking spaces. The development is expected to be delivered in phases.
Source: economica.net
