Tiriac has 1bn-euro project near Otopeni airport

Tiriac Imobiliare, the real estate division of the Tiriac group, will invest between 500 million euros and one billion euros in a mixed real estate project on the site of the former Metro Otopeni, near the Henri Coanda airport, on an 88-hectare plot. The project could include an exhibition centre and a hotel, given its closeness to the airport, according to market sources. This will be the biggest real estate investment of the Tiriac group, which plans to see the total market value of its project reach 900 million euros by 2010. “The investment in the project could amount to 500 million euros – one billion euros in the coming years, depending on the type of real estate project we will decide on. This will be the biggest real estate project developed by the Tiriac group, and could also include a hotel,” Anca Ioan, CEO of Tiriac Holdings, told ZF. Given the size of the project, Tiriac Imobiliare could bring an experienced foreign partner on board, according to market information.