Ion Alexandru Țiriac says there is still demand for office space and that he will start construction work of a 14-floor office building in Piața Victoriei square, at the northern end of the future Uranus Boulevard.
Billionaire Ion Țiriac, one of the richest businessmen in Romania, who controls a business worth nearly one billion euros in real estate, the auto industry and financial services, will soon start construction of an office building in Bucharest’s Piața Victoriei, considered to be the focal point of business center investments.Țiriac has had a plot at one end of Buzești Street for several years, which also accommodates buildings of billionaire Dinu Patriciu and of Austrian companies such as Immofinanz and Premiumred.
Ion Alexandru Țiriac, son of billionaire Ion Țiriac and representative of the shareholder in the boards of directors, is directly involved in this project.
“We will shortly start construction of a new 14-floor AAA building, which will be located on Buzești Street, close to Piața Victoriei.”
The start of works on the latest investment announced by Țiriac Holdings in the Piața Victoriei area comes nearly six months after the municipality started demolition work in order to build a new boulevard that will link Piața Victoriei to Piața Progresul square, along Buzești, Berzei, Vasile Pârvan and Uranus streets and Tudor Vladimirescu Boulevard. This route will make traffic more fluid, as an alternative route to Lascăr Catargiu Boulevard and Calea Victoriei Avenue.
Țiriac did not specify the value of the investment in the new office building, but according to ZF estimates, it is likely to be around EUR20 million, with the overall area of the building likely to be close to 20,000 square meters.
On the other hand, Țiriac Imobiliare, the real estate division of the group controlled by billionaire Ion Țiriac, rented out 40 apartments in Stejarii residential complex and will start construction of the project’s club nearly one year later than originally planned, according to Ion Alexandru Țiriac.
The club will entail an over 20 million-euro investment, according to ZF estimates, and will include eight tennis courts, four of which will be covered, two swimming pools, a shopping area, three restaurants and an around 1,000-space underground parking lot.
This is set to be the second investment started by Țiriac Holdings this year.