Hagag Development Europe Launches Hagag Energy and Expands Real Estate Projects in Romania
Hagag Development Europe, under Yitzhak Hagag, has launched Hagag Energy to expand into the energy sector while enhancing its real estate projects in Romania. The company is advancing multiple developments, including the H Pipera Lake phase II and the first Radisson Red hotel in Bucharest, alongside plans for a EUR 400 million investment to establish 64 new natural gas distribution networks, creating 200 jobs and increasing customer reach by 35% over the next two years.
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In 2025, Hagag Development Europe, led by Yitzhak Hagag, launched Hagag Energy, marking its shift into the energy sector while strengthening its real estate presence in Romania. The company commenced phase II of H Pipera Lake and resumed H East Residence construction, completing H Stirbei Palace and introducing Romania's first luxury department store.
A new hotel project, the first Radisson Red in Bucharest, was announced alongside a masterplan for a hospitality venture in Predeal. The mixed-use property H Herastrau Park reached 60% occupancy. In energy, Hagag initiated operations with 67 contracts for natural gas distribution, including three operational networks.
Over the next 24 months, the company aims to commission 64 new networks, generating 200 jobs and increasing customer reach by 35%. An investment plan exceeding EUR 400 million is in preparation to expand further into the energy industry, focusing on sustainability and resilience amid evolving market conditions.
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