The company has kicked off the construction works for the consolidation and repurposing of Știrbei Palace on Calea Victoriei. The building will be transformed into H Știrbei Palace, the company’s first retail project in Bucharest.
The project encompasses the reconstruction of the former chariot house, which will serve tenants in the HoReCa industry. The construction works carried out by BTDConstruct & Ambient will unfold over the next 24 months.
“Once completed, H Știrbei Palace will be the first high-end department store to function in a historical monument building, with direct street access and exceptional positioning on one of the main ultra-central arteries in the capital city. Moreover, the project has already aroused the interest of some very prominent brands operating in the luxury goods market and I am delighted to confirm that we are currently in advanced discussions with these brands’ representatives, whose consolidated demand covers almost 90 per cent of the leasable area,” said Yitzhak Hagag, Co-Founder and controlling shareholder of Hagag Development Europe.
