Ion Alexandru Ţiriac says there is still demand for office space and that he will start construction work of a 14-floor office building in Piaţa Victoriei square, at the northern end of the future Uranus Boulevard.
Billionaire Ion Ţiriac, 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 Piaţa Victoriei, considered to be the focal point of business center investments.
Ţiriac has had a plot at one end of Buzeşti Street for several years, which also accommodates buildings of billionaire Dinu Patriciu and of Austrian companies such as Immofinanz and Premiumred.
Ion Alexandru Ţiriac, son of billionaire Ion Ţiriac 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 Buzeşti Street, close to Piaţa Victoriei."
The start of works on the latest investment announced by Ţiriac Holdings in the Piaţa Victoriei area comes nearly six months after the municipality started demolition work in order to build a new boulevard that will link Piaţa Victoriei to Piaţa Progresul square, along Buzeşti, 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.
Ţiriac 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, Ţiriac Imobiliare, the real estate division of the group controlled by billionaire Ion Ţiriac, rented
