Hagag has diversified its operations in Romania by entering the energy sector through the acquisition of BTD Distribuție și Furnizare, a Romanian company specialising in natural gas infrastructure development, distribution, and supply.
Yitzhak Hagag, Co-Founder and Chairman of Hagag Development Europe, talked to Property Forum about the company's investment pipeline north of €360 million and its ongoing developments in luxury retail, offices, residential and mixed-use projects.
Hagag Development Europe has partnered with Radisson Hotel Group to launch its first hotel in Bucharest under the Radisson RED brand.
Hagag Development Europe has announced the acquisition of 50% of a multifunctional building near Herăstrău Park, as part of a partnership with Niro Investment Group.
Hagag Development Europe is preparing to reopen the Știrbei Palace on Calea Victoriei, in H2 2025, as a luxury department store.
The Middle East conflict is driving up energy prices and pushing inflation higher across CEE. Oil and gas shocks hit import-dependent economies hardest, forcing central banks to postpone planned rate cuts as markets turn risk-off, according to an analysis by ING Bank.
Banca Transilvania (BT) reported a consolidated net profit of RON 4.10 billion (€804.7 million) in 2025, representing a 15.96% increase compared to RON 3.53 billion.
Romanian gas producer Romgaz recorded a consolidated net profit of RON 3.35 billion (€674.5 million) for the 2025 financial year.
State-owned power producer Hidroelectrica Group recorded a 20% fall in net profit during 2025 versus 2024 as the poor water levels significantly impacted hydropower generation and consequently the total volume of energy available for sale.
Greenvolt Power has secured €348 million in financing for the construction of a 253.1 MW wind project in Ialomița county, Romania.