Romanian press: Orbán’s son-in-law to purchase high-end office building in Bucharest

Orbán’s son-in-law, István Tiborcz is reportedly in the final stages of negotiations to acquire the Equilibrium 1 office building in Bucharest through his Gránit Fund Management. Romanian newspaper Cotidianul reports that Swedish property giant Skanska may sell the building for between EUR 40-50 million, marking Tiborcz’s first major foray into Romania’s real estate market.

Orbán’s son-in-law enters into the Romanian real estate market

The Romanian Cotidianul news portal reports that Equilibrium 1, a Class A office building in Bucharest’s Barbu Văcărescu business district, offers 20,700 square metres of leasable space across 12 floors. Completed in 2019, the building features a modern design and 3,500 square metres of green space, attracting key tenants like Signal Iduna and Secom Healthcare. If Orbán’s son-in-law, István Tiborcz, completes the acquisition through Gránit Asset Management, it will reinforce his growing influence in the real estate sector and mark a strategic expansion into Central and Eastern Europe. This deal also aligns with Skanska’s model of developing and selling fully leased office projects.

Skanska in Romania

As Cotidianul also notes, Swedish property giant Skanska, with global operations worth over EUR 13.8 billion in 2023, has been a key player in Romania’s office development sector since re-entering the market in 2007. Alongside Equilibrium 1, Skanska completed Equilibrium 2 in December 2022, though the latter has a lower occupancy rate, potentially delaying its sale. Orbán‘s son-in-law, István Tiborcz, has shown interest in acquiring Equilibrium 1 through Gránit Asset Management, aligning with Skanska’s model of selling fully leased office projects. Previous Skanska sales in Bucharest include Green Court and Campus 6, valued at EUR 129 million and EUR 150 million, respectively.