Hagag Development to reopen Bucharest’s Știrbei Palace as luxury department store this year
<p>Bucharest's Știrbei Palace is set to become Romania's first high-end retail destination, with Hagag Development Europe announcing its reopening for the second half of 2025. The building on Calea Victoriei will host some of the world's most prestigious brands, the developer said.</p>

<p>Fashion houses such as Dior, Saint Laurent, Celine, Valentino Garavani, and Hermes will occupy the retail spaces, alongside high-end beauty and jewelry brands. In addition, the 4,000-square-meter space will include a fine dining restaurant and an in-store Champagne Bar.</p>

<p>"About eight years ago, when we decided to acquire this property, our vision was to develop here the first 'luxury department store' in the country and pin Bucharest to the map of luxury shopping destinations in Europe," said Yitzhak Hagag, Cofounder and Chairman of Hagag Development Europe. "Today, we are delighted to welcome some of the biggest names in the luxury industry to H Știrbei Palace."&nbsp;</p>

<p>In addition to fashion, the beauty section will feature exclusive skincare, fragrances, and couture makeup from renowned names like Chanel, Guerlain, Roja Dove, and Maison Francis Kurkdjian.</p>

<p>The developer <a href="https://www.romania-insider.com/hagag-development-starts-stribei-palace-restoration-2023" rel="noopener" target="_blank">started the works</a> for the restoration, consolidation, and refunctionalization of the Știrbei Palace in October 2023. The building is a class A historical monument.&nbsp;</p>

<p>Hagag Development Europe is an international real estate investor-developer specialized in the development of residential and commercial projects in Romania, traded on the Tel-Aviv Stock Exchange.</p>

<p><i>irina.marica@romania-insider.com</i></p>

<p><i>(Photo source: Hagag Development Europe)</i></p>