Businessman Ion Tiriac is one of the biggest landowners on the Bucharest market, owning, directly and indirectly, up to 150 hectares of land, sources on the market told ZIARUL FINANCIAR.
Most of Tiriac's real estate empire is grouped in the surrounding areas of Otopeni Airport, north of Bucharest, where the businessman owns about 100 hectares that are valued somewhere in the neighbourhood of 100 million euros, according to estimates provided by sources on the real estate market.
Other plots of land that he owns are located in the Gendarmerie area, also northern Bucharest, close to the Bucharest-Pitesti highway (West), in the Chitila area, as well as smaller plots of land in various locations across Bucharest.
Tiriac has decided to put his formidable property arsenal to use in order to greatly develop his company, which operates flights for businesspeople. The businessman therefore comes with a contribution in kind in form of 48.3 hectares of land to increase the share capital of the Ion Tiriac Air company from 11.5 million euros to 60.9 million euros, according to the data in the Official Gazette. The value of the plots of land was set at 49.4 million euros (176.4 million RON), according to the evaluating report drawn up by Tehnoconcept Expert.
The tract of land located in Otopeni town (Ilfov County) is subdivided into a number of lots, each of them between 4 and 5,400 square metres. The respective lots were sold by Dumitru and Aurica Luca to Tiriac and to Dan and Regina Petrescu between 1998 and 1999. The Petrescus later sold their lots to Tiriac.
"We have development plans for Tiriac Air and are now working on completing them. This is why we rely on a growth in revenue this year. The plot of land was the property of Ion Tiriac, but we decided to include it into the share capital of the company to back the development plans we have, the future funding, the current operations of the company," Anca Ioan, chief executive of Tiriac Holdings told ZIARUL FINANCIAR.
Tiriac Holdings controls, either directly or indirectly, the business conglomerate Ion Tiriac built in the banking, insurance, auto leasing and real estate.
Plans for Tiriac Air indicate an estimated 8.4 million-euro turnover for this year, an increase of 20% from the previous year. The company operates flights from its own business terminal in Otopeni Airport. Ion Tiriac Air owns a Boeing 737-300 aircraft with 44 seats, a Gulfstream 200 with nine seats, and two helicopters - a four-seater and a six-seater.
After the increase, the capital of the company is held by Ion Tiriac (81.2%), Tiriac Air Services Ltd. Cyprus (18.1%), Eher Holdings Limited Cyprus (0.1%), Mappoint Holdings Limited Cyprus (0.1%) and Ion Alexandru Tiriac (0.1%) according to the data in the Official Gazette.
The group includes Banca Tiriac, whose merger with HVB Bank is about to be finalised, the insurance company Allianz Tiriac (the controlling interests in which are held by German Allianz Group), Tiriac Leasing, the automotive group of companies that import and distribute eleven car brands, such as Ford, Mercedes, Hyundai and Mitsubishi.
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