BREC REGIONAL CITIES: Iulius Group bets on mixed-use

BREC REGIONAL CITIES: Iulius Group bets on mixed-use

BREC REGIONAL CITIES: Iulius Group bets on mixed-use 1020 600 BUCHAREST REAL ESTATE CLUB

The figure defining the value of the IULIUS Group’s investments is 1.2 billion Euro. This is the total amount of the 300.000 sqm GLA retail portfolio in two mixed-use urban regeneration projects (Palas Iasi and Iulius Town Timisoara), the only ones of this type in the country, the national network of regional shopping malls (Iulius Mall – Iasi, Cluj -Napoca and Suceava), the national network of premium office buildings United Business Center (13 buildings, 152.000 sqm GLA) and projects under development (Palas Campus Iasi and two Family Market projects in Iasi County). 

In Timisoara, Iulius Town is the success story through which a mall turned into an ambitious mixed-use project, reviving an urban area with an industrial heritage and reconnecting it with the city. The shopping mall represents the largest retail area outside of Bucharest, with an area of 102, 000 sqm and 450 stores. United Business Center is the office component of Iulius Town, comprising of 3 class A office buildings, totalling 50.000 sqm and hosting 30 companies with 5.000 employees. 

„As real-estate concepts, we believe that mixed-use projects have shown more than ever their ability to adapt and resilience, even in contexts with many challenges and uncertainties.

Their format, strategic positioning, development on the local identity, but also the strategies implemented at the level of operation by our group (especially those of supporting tenants in the lockdown months), helped us overcome the worst period of the pandemic at a rate about 1% vacancy, 50 new brand launches and a stronger partnership with all tenants than ever before,” the company official’s state.

In the middle of Iasi, near the Palace of Culture, IULIUS developed Palas Iasi, a premiere project designed as a tribute to the symbolic building of the city and as an economic and social boost for the entire region. Inaugurated in 2012, the Palas complex remains the only urban regeneration complex of such magnitude in the North – Eastern part of the country. Currently, the value of the investment in Palas Iasi amounts to over 310 million Euro.

With a mixed portfolio that surpasses 450.000 sqm, Iulius Group represents one of the main investors in Romania’s regional cities. 

Find out more about the real estate dynamics across the regional cities of Romania: