Real Estate Tycoon Invests 1 Bln In Romania

Owned by Hungarian real estate tycoon Sándor Demján, TriGránit held a large-scale VIP party for Romanian government representatives, businesspeople, politicians and journalists, and informed them of the company’s development plans in Bucharest and other cities.

In downtown Bucharest, TriGránit plans to build a 104,000 square-meter multi-functional city center including shopping and entertainment facilities, cultural institutions, offices, hotels and parking garages. At the spectacular VIP party, TriGránit part-owners Peter Munch and Lord Nathaniel Rothschild announced that they regard Romania as the new eastern gate of the European Union.

According to written materials distributed to the press at the party, the investments will reach the EUR 1 billion figure. The company will not restrict itself to Bucharest only, but also plans developments in other Romanian cities. TriGránit plans to build a Polus Center shopping mall in Cluj Napoca, and it will start real estate development in 10 Romanian cities, including Constanca near the Black Sea.

TriGránit representatives said the company plans to utilize its Hungarian experience and know-how in the company’s planned expansion in Romania, Bulgaria and Croatia. TriGránit executives met with Romanian Prime Minister Calin Popescu Tariceanu, and his two deputies, Béla Markó and George Copos.