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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

RO President asks lawmakers to reconsider land transfer to Chamber of Commerce

President Klaus Iohannis returned to Parliament the draft law that aims to transfer 46 hectares of land in Bucharest's central business district (CBD) to Romania's Chamber of Commerce and Industry (CCIR), free of charge, Economica.net reported.

As inked and passed by the lawmakers, the draft law provides insufficient guarantees regarding the intended use of the land and lacks clarity about the final beneficiary of the land, the Presidency notes.

The law, authored by the Popular Movement Party (PMP) of former President Traian Basescu, received support from both the Social Democrats (PSD) and Liberals (PNL).

However, the bill was referred to the Constitutional Court by the reformist Save Romania Union (USR), which did not see the public benefits of granting free of charge a plot of land evaluated at over EUR 300 million to a private entity like CCIR (actually the beneficiary of the land is Romexpo - the country's biggest exhibition center - controlled by CCIR).

The Court didn't see any constitutional issue and cleared the draft leaving president Iohannis with the delicate mission of either promulgating the bill (and accepting the political cost of a rather obscure deal) or returning the bill to lawmakers, potentially generating a conflict within the ruling coalition.

The narrative of those criticizing the land transfer is that it represents an unjustified transfer of wealth to CCIR, which wants to put the land at the disposal of major real estate developer and investor Iulius Group for a EUR 2 bln mixed-use project.

In its turn, on a more pragmatic note, CCIR argues that its rights to use the land for another 33 years invalidates any alternative plan - unless the state accepts to pay the EUR 300 mln compensations included in the concession contract for the case of nationalization.

The president's request goes along with the idea of limiting the benefits generated by the transfer of land in line with the existing rights held by CCIR. 

(Photo: Ccir.ro)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

RO President asks lawmakers to reconsider land transfer to Chamber of Commerce

President Klaus Iohannis returned to Parliament the draft law that aims to transfer 46 hectares of land in Bucharest's central business district (CBD) to Romania's Chamber of Commerce and Industry (CCIR), free of charge, Economica.net reported.

As inked and passed by the lawmakers, the draft law provides insufficient guarantees regarding the intended use of the land and lacks clarity about the final beneficiary of the land, the Presidency notes.

The law, authored by the Popular Movement Party (PMP) of former President Traian Basescu, received support from both the Social Democrats (PSD) and Liberals (PNL).

However, the bill was referred to the Constitutional Court by the reformist Save Romania Union (USR), which did not see the public benefits of granting free of charge a plot of land evaluated at over EUR 300 million to a private entity like CCIR (actually the beneficiary of the land is Romexpo - the country's biggest exhibition center - controlled by CCIR).

The Court didn't see any constitutional issue and cleared the draft leaving president Iohannis with the delicate mission of either promulgating the bill (and accepting the political cost of a rather obscure deal) or returning the bill to lawmakers, potentially generating a conflict within the ruling coalition.

The narrative of those criticizing the land transfer is that it represents an unjustified transfer of wealth to CCIR, which wants to put the land at the disposal of major real estate developer and investor Iulius Group for a EUR 2 bln mixed-use project.

In its turn, on a more pragmatic note, CCIR argues that its rights to use the land for another 33 years invalidates any alternative plan - unless the state accepts to pay the EUR 300 mln compensations included in the concession contract for the case of nationalization.

The president's request goes along with the idea of limiting the benefits generated by the transfer of land in line with the existing rights held by CCIR. 

(Photo: Ccir.ro)

andrei@romania-insider.com

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