The company's representatives requested, in addition, an additional approval for the reconstruction of the annex body that housed the former carriage shed. The budget allocated for the refurbishment of the Palace and the rebuilding of the annexed body is 20 million euros.
The restoration works of the Știrbey Palace will follow the line of the H Victoriei 109 and H Victoriei 139 projects, the developer already having expertise in the restoration of some emblematic buildings for Calea Victoriei. Therefore, the exterior image of the building will be completely restored, the facades of the building will be restored to its original appearance and brightness, and the interior image will be reconstructed according to historical plans, respecting, within the limits of technological possibilities, traditional techniques and materials.
Știrbey Palace covers an area built on the ground of 776 square meters and a built-up area of 2,933 square meters. The entire building will be restored and reconsolidated, including the exterior decorative elements.
„Știrbey Palace is a property with an inestimable architectural value. From the market prospecting phase, we were fascinated by the neoclassical distillery hidden behind the exterior and interior stylistic elements of the building - today in ruins - and which, without words, tell us stories about history, elegant evenings and the evolution of a nation. The project plans focus on preserving the historic charm of this iconic building. In this sense, in addition to the restoration of the palace building, we have in the plans the rebuilding from scratch of the circular body that, in the past, was intended for the storage of carriages. We are convinced that the revitalization of the Palace and its reintroduction in the commercial circuit will bring an important image capital to Bucharest, not only at community level, but also at international level. Of course, a building as important as Știrbey Palace could not be reintroduced without the support of local culture and talents, which is why we decided to dedicate one of the building's annexes to art", said Yitzhak Hagag, Chairman and Board Controller Hagag Group.
HAGAG Development Europe is a real estate developer specialized in residential and commercial projects in Romania. The company is involved in the acquisition, development and renovation of buildings and projects involving more than 200 million euros invested in the historical and development areas of Bucharest. (source: Hagag Development Europe)
