Israeli-born Maor Zinger (34) is one of Brasov's wealthiest individuals, after he started his business in Romania in the early nineties and later entered the real estate market in 1997. "If I were to sell everything I own in Brasov tomorrow, I would collect 350 million euros. I also have similar sized businesses in Israel, as well as in other countries where the real estate industry is currently experiencing a high growth rate," Zinger told BUSINESS Magazin.
Maor Zinger's short and medium term plans include Brasov's first five-star hotel, which will contain 100 rooms and is scheduled to open at the end of this year, the construction of a 20-pension chain (also in Brasov) scheduled for completion at the end of 2008, and a theme park, which will stretch over 5-6 hectares and will require an 15 to 20 million-euro investment, with construction works due to start in 2008.
Apart from these projects, Maor Zinger also owns Eliana Mall and Brintex shopping centre in the Bartolomeu area. Maor Zinger had a clear strategy for the Bartolomeu area, "I bought most of the land in the area, I had it cleaned up and built the infrastructure four years ago. Then, I opened Brintex first (a wholesale store) and Eliana Mall; everyone else came and will continue to come after me."
Last year, the Real supermarket chain, a division of the Metro group, opened a store near Eliana Mall, and recently, Ori Zinger sold two plots of land to another two stores. "I sold land to Dan Ostahie, in order for him to build a Media Galaxy store here, and next month a DIY store will open, for which I sold the land and a facility."
The network involved is a Turkish-based DIY company, Tekzen, which invested 1.5 million euros to arrange the area purchased from Zinger and intends to open its first store on the Romanian market next month in Brasov.
The new store is the first out of a total of 14 stores planned for Romania within the next two years. The development strategy of the businessman is to acquire land from plants that are being wound up, or sell their land in central locations to move production outside the city.
Maor Zinger acquired land from Lubrifin, Romradiatoare and Colorom Codlea and purchased the latter in the spring of this year, for 7.5 million euros.
The businessman says he will invest 1.5 million euros to clean up the area and next year will start to sell plots of the land currently estimated at 35 million euros.
The acquisition of this particular plot of land, whereby Zinger will get control over the dam, which supplies water to the town of Codlea, has caused a great deal of controversy among both politicians and trade union leaders in the county, who have denounced the fact that a private investor has gained control over such a facility.
Zinger suggests he has no hidden agenda with regards to the Colorom land and states he will sell most of it for residential, commercial or industrial projects. In addition, the Israeli-born businessman might save a section of the land to implement other development ideas.
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