Tiriac has 1bn-euro real estate projects

Tiriac Holdings, controlled by businessman Ion Tiriac, could develop real estate projects worth one billion euros by the end of next year. “We have projects on all segments of the real estate market. Our objective is to attract foreign partners with experience in the field, who would not make the same mistakes we might,” said Ion Tiriac. By the end of this year, the real estate projects developed by the group could reach 400 million euros. However, the group has other important residential projects and, in particular, logistical space projects starting next year, which could bring the group’s business to close to one billion euros. “We intend to build homes for people from all income categories. People with incomes ranging from 200 to 400 euros need to buy a home, too, so, rather than pay rent, it’s better for them to invest for 25 years in a flat. Bucharest could easily absorb 10,000 flats a year,” says Tiriac.