Sources Confirm Bucharest Palace Bought by Amir Dayan

April 25, 2021

In 2019 Bucharest’s historic Oscar Maugsch Palace in Bucharest’s University Square was purchased by Israeli real estate investor Amir Dayan.

According to industry sources “The property has been purchased by the Dayan family. At present, the Dayan family is looking at the development options for the building, but no decision has been made yet. A team of experts is working to examine the various potential options. The Dayan family is convinced about the positive growth opportunities on the Bucharest real estate market and has many years of expertise in developing property across Europe.”

Amir Dayan was born in Tel Aviv, Israel in 1974 to a poor family, and achieved great success due to astute investments in the real estate market. He has been active in the European hotel business and real estate field, mainly in the Netherlands, UK, and Germany since 2005. Besides Vivion, Amir Dayan is also a shareholder in various other public and private real estate projects, including Golden Capital.

According to sources familiar with the deal, the value of the transaction surpassed the initial evaluation of EUR 20 million by some 40%, amounting to somewhere between EUR 28-30 million. The Oscar Maugsch Palace was sold by Romanian lender BCR, who had used the building as their central offices prior to relocating to more modern offices on on Calea Victoriei, next to the CEC Palace in Bucharest.

Erected in 1906, the Oscar Maugsch Palace sits across the square from the palace of the University of Bucharest and was at one time the headquarters of Generala Insurance Company until it was nationalized in 1948. The building is now listed as a Class A historical monument.

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