The shareholders of RP Estates Development have approved the sale of the office complex on Calea Griviței no. 6-10, the former Romproiect headquarters in the center of the Capital, at a minimum price of EUR 8.45 million. The transaction targets a real estate asset that the developer Hagag intended to transform into a hotel, but which is currently blocked in a legal dispute and is encumbered by a legal mortgage of EUR 1.12 million, established in its favor following an uncompleted acquisition.
The decision was adopted unanimously on November 28, 2025, by the Extraordinary General Meeting of Shareholders, in the presence of investors holding 92.08% of the share capital. The majority shareholder of RP Estates Development S.A. is Sitraco Engineering Overseas Ltd., with a 91.65% stake. The sole administrator Gheorghe Stânculescu received a full mandate to negotiate the sale price, payment terms, and to sign the documents necessary to complete the transaction.
The property includes a 1,744-square-meter plot of land and four structures, including two office buildings with heights of 8 and 9 floors, respectively, totaling a built-up area of nearly 7,850 square meters. Although the asset has a permit to change its use into a hotel, it is not free of encumbrances. In addition to the legal mortgage of EUR 1.12 million held by Hagag Grivitei 6-10 SRL to guarantee the advances paid under a 2022 promissory sale-purchase agreement, the complex is also encumbered by mortgages in favor of Libra Internet Bank. These include guarantees registered in 2015 worth EUR 1.09 million and EUR 235.9 thousand, a 2017 mortgage of EUR 1.14 million, and a 2018 mortgage of EUR 60.3 thousand.
The legal dispute between the owner and the former promissory buyer is pending before the Bucharest Court. Hagag Grivitei 6-10 SRL is seeking in court the termination of the promissory sale-purchase agreement due to the seller’s fault or, alternatively, the refund of the EUR 1.12 million advance and EUR 56.3 thousand in operational costs. The litigation was listed as active in the land registry at the end of May 2026, meaning that any potential buyer will acquire the asset along with the ongoing legal dispute.
Frequently Asked Questions
What is the minimum approved price for the sale of the complex?
The shareholders of RP Estates Development approved the sale of the office complex on Calea Griviței at a minimum price of EUR 8.45 million.
What legal dispute affects this property?
The property is involved in a legal dispute between the owner and Hagag Grivitei 6-10 SRL, which is seeking the termination of the promissory agreement or the refund of its EUR 1.12 million advance.
What mortgages encumber the building on Calea Griviței?
In addition to Hagag’s legal mortgage of EUR 1.12 million, the complex is encumbered by several mortgages in favor of Libra Internet Bank, totaling over EUR 2.5 million.