Hagag Development Europe has cancelled the agreement signed with Carmen Palade's family terminating the sale of the Rex hotel in Mamaia for €13.3m, which Carmen Palade's family aimed to transform the hotel into apartments.
The hotel has a built-up area of c. 14,000m2, as well as two 100m2 storage buildings and a 345m2 parking lot. All of this is located on a plot of c. 7,000m2.
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