The development is scheduled to start next year in one of the most attractive office zones in Bucharest, where rents reach EUR 18-20/ sq. m/ month.

Ţiriac became sole shareholder of the project after the takeover of the 40 pct. share by one of his group’s companies, Weybridge Holdings, previously own by the Lebanese Khalil Abi Chahine and the company Daim Imobiliara within the developer of Buzeşti Center, Global East European Investment. Daim Imobiliara is controlled by Dumitru Creştin and other members of his family.

According to ZF data, Ţiriac obtained last year the construction permit for the building Buzeşti Center, which will feature 12 floors and a built area of nearly 35,000 sq. m. The construction of the building didn’t start yet, even if the company’s representatives said last year that they started the first phase of the project, namely the preparation of the land. (source: zf.ro)