Tiriac invests EUR 30 mln in office building in Piata Victoriei

Newsroom 23/12/2014 | 10:28

Tiriac Imobiliare, Ion Tiriac’s real estate division, will invest EUR 30 million in an office building on Buzesti street, near Piata Victoriei in Bucharest. Construction work and leasing were initiated only recently on this project, writes zf.ro.

Billionaire Ion Tiriac obtained a permit to build a building with 11 floors and TLA of 18, 000 square meters.

“The first construction phase has begun, representing preparation works for the project. During this stage we are colaborating with Apolodor, after that in the first quarter of next year we will begin to look for a constructor”, according to Tomas Manjon, operational director Tiriac Imobiliare.

He added that the total value of investment reaches “approximately EUR 30 million”, and Tiriac is currently looking into getting a loan for the project.

“Development does not hinge on an external source of financing. Up until now, the project has been sustained through our own funds, but we are looking into external sources of financing”, Manjon added.