The Gagiu family transforms hotel project into luxury housing and a medical clinic

The Gagiu family, owner of the Vitan agro-food market, from Bucharest, took over the construction site of a hotel in the Unirii area, in the center of the capital, started a decade ago, and is transforming the project into luxury housing and a medical clinic, following an estimated investment of around EUR 10 million.

The Gagiu family paid about EUR 5 million to take over the project, the construction of which had begun, plus some neighboring lands. The investment is supported by a EUR 7.3 million loan from Garanti Bank.

"We want to rent to a medical clinic the space of 2,000 useful sqm in the basement, ground floor and mezzanine, which is common to the two buildings included in the project. 73 luxury homes will be arranged on the first floor. We will also build a parking building, in the back, with a basement, ground floor and 4 floors, which will have about 110 spaces, dedicated exclusively to the complex," said Vasile Gagiu, general director of Piața Vitan.

The project will be developed on a plot of land with an area of 2,150 sqm and has a completion date of March 2025.

Source: Profit.ro