Haggag Europe's Bucharest Palace Named Retail Project of the Year
Haggag Europe's H Stirbei Palace luxury project in Bucharest won Retail Project of the Year at the SEE Property Forum Awards 2026. The historic 1835 building now hosts Romania's first luxury department store following extensive restoration.
Haggag Europe's luxury real estate project in Bucharest, the H Stirbei Palace, has been named Retail Project of the Year at the prestigious SEE Property Forum Awards 2026. The award was presented at an official ceremony in the Romanian capital on October 20, adding to a string of international accolades for preservation, restoration, and commerce.
The annual competition evaluates prominent real estate transactions, companies, and ventures in Romania. Judged by a panel of dozens of senior executives from consulting, development, and financial institutions—including representatives from BCR, AFI Romania, One United Properties, CTP, and CBRE—the competition reviewed over 250 nominations this year. Haggag Europe's project triumphed over three other finalists in the retail category.
From Royal Residence to Luxury Retail Hub
Located on the central Calea Victoriei avenue in Bucharest, the building was originally erected in 1835 and formerly served the Romanian royal family, government authorities, and later the Ceausescu regime. Damaged during World War II and previously restored, the structure was declared a historical monument in 2004.
Operating in the country since 2017, Haggag Europe led an extensive neol-classical architectural preservation and restoration process while adapting the complex for modern commercial use. The project spans a built-up area of over 4,000 square meters, combining the original palace structure with a newly restored wing.
Today, the site hosts TOFF Galleries, Romania's first luxury department store, which houses a roster of international fashion brands including Celine, Dior, Valentino, and Dolce & Gabbana.
Industry Recognition
Commenting on the achievement, Arik Derek, CEO of Haggag Europe, stated: "Winning Retail Project of the Year is a significant milestone for Haggag Europe, especially given that this recognition comes from senior professionals leading the Romanian real estate industry."
"This selection reflects our company's reputation and business approach, which is based on identifying unique assets and long-term investment. We are proud to breathe new life into one of Bucharest's most important historical buildings," Derek added.
This latest victory joins previous awards received by the project, including Best of the Best Refurbishment at the CIJ HOF Awards, Best Commercial Development in Romania at the European Property Awards 2025-2026, and Best Retail Project in the CEE region at the 2026 EuropaProperty Awards.
