Ion Alexandru Ţiriac, son of billionaire Ion Ţiriac andrepresentative of the shareholder in boards of directors,controlling an over one billion-euro business in real estate, auto,and financial services, decided to change the strategy forexclusive real estate project Stejarii and put the apartments upfor rent after apartment sales were stopped.
"We stopped sales at the beginning of this year. We managed tosell the most expensive apartments, but the cheapest ones areusually acquired with the help of funding because they arededicated to the middle class, which depends on funding frombanks," Alexandru Ţiriac said.
The same strategy will be adopted in the case of the second stageof the project, which will start in 2012. This autumn the companywill start construction of the club within the complex, an over 20million-euro investment, which will include eight tennis courts andtwo swimming pools.
The rental price for a 140 square-metre two-room apartment, thesmallest in the complex, will be 13.8 euros/square metre, comparedwith an average of up to 10 euros/square metre in other newprojects where owners rent out Bucharest homes.
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