Iasi

Tech company spektr creates new career opportunities in Iași by expanding the engineering hub in Palas Campus
Tech company spektr creates new career opportunities in Iași by expanding the engineering hub in Palas Campus 948 906 ROMANIA PROPERTY CLUB

spektr, a Copenhagen-based tech company developing compliance process automation and digitization solutions for financial institutions and tech companies in 15-plus countries, is consolidating its presence in Romania by expanding its operations in Iași. Following the opening of a new office in Palas Campus, the company is launching new job opportunities and seeks to transform Iași into its main engineering hub.

The new head office in Palas Campus, developed by IULIUS Company in downtown Iași, spans an area of approximately 500 square meters and will support the Danish company’s expansion plans. spektr is developing a platform used by banks, fintech, and other companies in regulated industries for compliance process management, from customer verification and monitoring to investigations and risk management.

For spektr, the new location will play a strategic role as a product engineering hub, where the teams will work on developing the platform. The hub will accommodate the development and improvement of Big Data management systems, artificial intelligence-based solutions supporting information analysis and investigation preparation, as well as components ensuring the security, stability, and quality of the platform.

“We did not come to Iași to open a delivery type office. Our team here will develop essential components for the spektr platform, and Palas Campus provides us with the space we need in order to grow. The software engineering talent pool in Iași is world-class, and expanding our presence here is a natural step forward,” said Ciprian Florescu, spektr co-founder and Chief Technical Officer (CTO).

spektr’s expansion comes amid a period of rapid growth for the company, after securing $ 20 million in Series A funding in April 2026, raising the total funding up to $ 26 million. spektr is currently working with financial institutions and tech companies in more than 15 countries. The team includes more than 70 professionals and the plan for the hub in Iași is to reach approximately 25 employees by the end of this year and around 40 employees over the next 12 months, becoming the company’s largest engineering base.

“We are delighted that spektr chose Palas Campus for the new development phase of the company. Choosing an office space for a growing team is a major decision for any company, and Palas Campus offers the necessary flexibility for organizations expanding their operations. The business infrastructure, facilities and services available here help us create an environment supporting both team performance and the everyday experience of employees,” said Ionuț Pavel, Office Buildings Manager Palas Iași.

About spektr

spektr is a company specializing in compliance technologies and developing the system that banks, fintechs and other regulated entities use to launch and expand products without losing control over the risks. The company was founded in 2023 by Mikkel Skarnager, Ciprian Florescu, Jan-Erik Aabo Wagner, and Jeremy Joly.

About Palas Campus

Palas Campus is the largest office building in Romania (54,000 sqm office space and 6,000 sqm retail space), integrating the head offices of 13 companies, as well as 5,000+ employees. Opened in 2023 by IULIUS Company and designed as a continuation of the Palas mixed-use complex located nearby, Palas Campus includes facilities and services accessible to all, such as: gym, medical centers, restaurants, coffee shops, bistro, and a supermarket.

 

RPC Talks with Ștefan Gheorghiu, Managing Partner, 4Biz Properties
RPC Talks with Ștefan Gheorghiu, Managing Partner, 4Biz Properties 646 631 ROMANIA PROPERTY CLUB

RPC Talks with Ștefan Gheorghiu

Managing Partner, 4Biz Properties

Company Profile

The Seller & Partners is a prominent, independent real estate agency based in Brașov, Romania. Founded in January 2025, the firm specializes in trading high-end and new-construction properties, connecting local sellers with international capital.

Supply Dynamics: How is the supply landscape in the Iași region shifting after years of being the “Cinderella” of the national logistics market? What are the main projects under development, and what new logistics hubs are emerging?

Ștefan Gheorghiu: Iași is entering a new chapter. After years of being considered the “Cinderella” of the national logistics market, supply is beginning to structure itself around major developers and Class A projects. While it is not yet a mature market like Bucharest, Timișoara, or Cluj, the difference now is that Iași is no longer just a promise—it is becoming a tangible logistics destination.

The primary projects remain Proinvest, ELI Park Iași, Olympian Parks, and Oresa Industra. A major highlight is WDP’s entry into the market through the acquisition of the Proinvest park—a transaction valued at over €20 million, which serves as institutional validation for Iași. Additionally, another project of approximately 20,000 sq m is currently in the permitting phase, which could bring further liquidity to the market.

In terms of growth hubs, I would particularly look at the Lețcani–Miroslava area in connection with the A8 motorway. This is driven by both its proximity to the Pașcani–A7 junction and its strong connectivity potential toward Ungheni and the Republic of Moldova. The A8 is becoming vital, not merely as road infrastructure, but as a strategic element capable of repositioning the entire Moldavia region on Romania’s logistics map.

Tenant Profile: Who is driving demand in 2026, given the large number of projects currently under construction?

Ștefan Gheorghiu: In 2026, demand is being driven primarily by regional and national players rather than global mega-tenants. We are seeing strong interest from distribution companies, FMCG, retail, e-commerce, courier services, building materials, light manufacturing, and related services.

Iași holds an interesting strategic position: it doesn’t compete purely for storage, but rather for a blend of regional distribution, proximity to the Republic of Moldova, and access to a strong labor pool. For many occupiers, Iași can serve as a comprehensive hub for northeastern Romania, far beyond a mere local outpost.

Operational Challenges & Costs: How significantly have industrial land prices risen alongside the progress of major infrastructure projects?

Ștefan Gheorghiu: Industrial land prices have risen visibly, particularly in locations offering good infrastructure access, utilities, and proximity to primary roads. I wouldn’t call the market overheated, but landowners have begun pricing in the anticipated impact of the A8 motorway and the entry of major institutional developers.

The main challenge is that not every “industrial” plot is ready for immediate development. The true differentiators are road access, utility capacity, zoning status, electrical grid power, and permitting timelines. In Iași, the real cost isn’t just the land price—it’s the time-to-market. Consequently, shovel-ready land with clean zoning, access, and utilities will remain both scarce and expensive.

Nearshoring: Are Western companies moving production from Asia or high-risk zones closer to the EU, selecting Iași or northeastern Romania for its competitive labor costs?

Ștefan Gheorghiu: Yes, nearshoring is a real trend, but we need to look at Iași through a realistic lens. We are not yet seeing a massive wave of Western companies relocating production directly from Asia to Iași, but we are seeing a shift in strategic logic. Companies are actively seeking locations closer to the EU that offer greater stability and predictability than far-flung or geopolitically exposed markets.

Iași and northeastern Romania are well-positioned with competitive labor costs, strong universities, a large demographic basin, and proximity to the EU’s eastern border. However, for large manufacturing projects, final decisions hinge on infrastructure delivery, technical workforce availability, and permitting predictability.

I would describe Iași as currently being in a regional logistics consolidation phase, which precedes a mature industrial nearshoring phase. The potential is undeniably there, but it will be unlocked as transport infrastructure and the supply of modern space continue to solidify.

Iași Steps Into the Modern Logistics Spotlight
Iași Steps Into the Modern Logistics Spotlight 2560 1829 ROMANIA PROPERTY CLUB

Iași is entering a new phase of industrial development, driven by two major infrastructure catalysts: the A7 motorway (Ploiești–Siret)—set to reach Pașcani by the end of this year—and the A8 motorway (Târgu Mureș–Iași–Ungheni), currently in its early stages with full completion targeted for 2030. Once finished, these two transport arteries will fully integrate the Moldavia region into Romania’s national transport grid and open direct corridors toward the Republic of Moldova and Ukraine—a compelling proposition for logistics and industrial operators eyeing the region.

Current Stock and Pipeline

Despite growing investor appetite, Iași County has historically suffered from an undersupply of modern industrial space. However, the market is shifting rapidly. Over 50,000 sq m are currently under construction, with completions scheduled for 2025–2026:

  • ELI Park Iași (Element Industrial) — 20,000 sq m (2025 delivery)
  • Industra Park Iași (Oresa Ventures) — 16,000 sq m (under development)
  • Proinvest Park Miroslava (Proinvest) — 16,000 sq m (under construction)

An additional 125,000 sq m are in the planning pipeline. According to real estate consultancy iO Partners, this expansion is set to double Iași’s modern industrial stock within a relatively short timeframe.

Rental Rates

Prime Class A industrial and logistics rents in Iași County currently range between €4.2 and €4.6 per sq m per month, depending on unit size and lease terms. Class B properties offer lower-cost alternatives, catering to price-sensitive tenants.

Demand Breakdown

The tenant mix closely reflects the city’s broader economic footprint. The automotive sector historically commands the largest share of occupied space (35%), followed by pharmaceuticals (27%) and retail/FMCG (17%). Pure-play logistics remains underrepresented compared to other Romanian hubs at just 12%—a gap that presents a clear upside and growth opportunity as motorway connectivity improves.

Iași – Romania’s Regional Retail Capital: The Country’s Highest Retail Density and a Rapidly Expanding Commercial Market
Iași – Romania’s Regional Retail Capital: The Country’s Highest Retail Density and a Rapidly Expanding Commercial Market 1920 1079 ROMANIA PROPERTY CLUB

With a county population approaching one million inhabitants, of whom 48% live in urban areas, Iași has become one of Romania’s most attractive expansion destinations for both international and domestic retailers.

At city level, Iași boasts the highest retail density in Romania, with 764 sqm of modern retail space per 1,000 inhabitants, outperforming Bucharest, Timișoara, Brașov and Cluj-Napoca.

The city’s retail landscape underwent a major transformation in 2025 with the opening of Mall Moldova, developed by Prime Kapital. Covering a total gross leasable area of 110,000 sqm, the shopping centre accommodates more than 250 brands, including 50 retailers making their debut in the Iași market. Its food court features 30 dining concepts and seating for approximately 2,500 visitors.

Iași’s modern retail stock currently totals approximately 207,700 sqm, dominated by three flagship schemes: Mall Moldova, Palas Mall and Iulius Mall. Each serves a distinct catchment area: Iulius Mall benefits from its proximity to the city’s university district, Palas anchors the historic city centre around the Palace of Culture, while Mall Moldova serves the rapidly expanding western gateway of the city.

The area surrounding Mall Moldova continues to attract major investment. Construction is currently underway on IKEA’s first store in north-eastern Romania, covering approximately 16,000 sqm. Iași will become the Swedish retailer’s third Romanian city after Bucharest and Timișoara.

According to information provided by 4BIZ Properties to Romania Property Club (RPC), two DIY retailers have recently completed or are in the process of completing acquisitions of development land totalling approximately 19.5 hectares, signalling continued confidence in the region’s retail potential.

Retail expansion is also extending into Iași’s metropolitan area, following the rapid development of new residential communities. After successful projects in Miroslava and Bucium, IULIUS is further expanding its neighbourhood retail concept with Family Market Tomești, a mixed-use retail destination offering approximately 13,000 sqm of leasable space alongside nearly 10,000 sqm of landscaped green areas. The scheme will be anchored by a Kaufland hypermarket, while Stay Fit Gym will operate the sports component and KFC will open its first Drive-Thru restaurant in the Iași metropolitan area. The total investment amounts to EUR 28 million.

Prime Retail Rents

Segment Prime Rent
High street – Main retail streets EUR 20–40/sqm/month
High street – Secondary retail streets EUR 10–20/sqm/month
Shopping centres (prime units) EUR 40–60/sqm/month
Retail parks EUR 8.5–9/sqm/month

Source: iO Partners (retail parks – Iași County)

Developed around the iconic Palace of Culture, Palas Iași represents one of Romania’s most successful public-private partnership projects. The development was selected following a public tender organised by the Iași City Council in 2004–2005 and implemented through a joint venture agreement under which the municipality contributed the land-use rights while sharing the project’s profits according to the contractual terms.

When inaugurated in 2012, Palas became Romania’s first large-scale mixed-use urban regeneration project, setting a benchmark for integrated city-centre developments. Between 2007 and 2024, the project generated a total of EUR 89.4 million in taxes, local contributions and payments under the public-private partnership agreement. Of this amount, EUR 86.26 million was generated after the project’s opening, between 2012 and 2024.

Having already invested approximately EUR 490 million in Iași, IULIUS is reinforcing its long-term commitment to the city through a further EUR 80 million investment programme. Central to this strategy is the comprehensive redevelopment of Palas Iași, designed in collaboration with the internationally renowned architectural practice Foster + Partners.

The redevelopment focuses on optimising and reconfiguring existing spaces rather than constructing new buildings. Both the architectural and functional transformation will create approximately 16,000 sqm of additional leasable space, enabling the introduction of new international brands while allowing existing retailers to expand.

Gabriel Iațco, Shopping Center Manager, Palas Iași:

“Overall, 2025 evolved broadly in line with our expectations, despite an economic environment that became increasingly volatile during the second half of the year. Even in a climate of greater consumer caution, we continue to see strong demand for premium shopping and lifestyle experiences, with customers prioritising products and services that deliver immediate value.

Against this backdrop, we continued implementing the Palas redevelopment strategy while closely monitoring consumer behaviour. As part of the transformation, we welcomed several new international brands, including Furla, Oltre, JD Sports, Buzz, LEGO, Crocs, Rituals, KIKO Milano, L’Occitane, Stay Fit and Popeyes.

Our diversification strategy continues throughout 2026 with the opening of highly anticipated brands such as Primark and Sport Guru. As the redevelopment progresses, additional retailers will join the project, further strengthening our tenant mix across high fashion, jewellery, sports, beauty, food & beverage, dining, entertainment and edutainment, while introducing new leisure experiences within Palas Park.”

Iași Office Market: Competitive Talent, Lower Costs, Big Ambitions
Iași Office Market: Competitive Talent, Lower Costs, Big Ambitions 2048 1152 ROMANIA PROPERTY CLUB

Iași combines its position as one of Romania’s leading university cities with one of the most competitive cost profiles among the country’s secondary office markets. The city’s salary gap compared with Cluj-Napoca – around 30%, and Timișoara – approximately 15%, is not a disadvantage but rather a compelling argument for IT, outsourcing and professional services companies looking to optimise operating costs without compromising access to skilled talent. While Cluj-Napoca remains the country’s largest regional office market in terms of stock and demand, Iași offers an efficient alternative, combining a highly qualified workforce with lower operating costs and rapidly improving connectivity.

Prime office rents in Iași currently range between EUR 13 and EUR 18 per sqm/month for Class A buildings and between EUR 10 and EUR 13 per sqm/month for Class B properties, according to data provided by iO Partners to Romania Property Club (RPC).

“There are currently no office buildings under construction in Iași, which is understandable given the significant expansion of the city’s office stock in recent years. More than 80,000 sqm of leasable office space was delivered in 2023 alone, through the completion of Palas Campus and the first office phase of Silk District, representing an increase of almost 40% in the city’s modern office stock within a single year. It is evident that a market of Iași’s size cannot absorb deliveries of this magnitude every year,” explain iO Partners representatives.

Although no office projects are currently under construction, the market retains considerable development potential. Future office phases within Silk District, an additional office building within the United Business Center (UBC) complex, and several smaller projects currently in early planning stages could accommodate any increase in occupier demand over the coming years.

The IT and telecommunications sector remains by far the dominant occupier in Iași’s office market, reflecting the city’s growing reputation as one of Romania’s leading technology hubs. Historically, this sector has generated just over 70% of total office demand, while professional services and business process outsourcing (BPO) account for approximately 12%.

As of November 2025, Iași’s IT and communications sector employed nearly 19,000 professionals, providing a strong foundation for office demand. At the same time, occupier requirements are evolving, shifting away from large-scale outsourcing operations towards smaller, higher-value teams specialising in artificial intelligence, cloud technologies and machine learning. This trend increasingly favours premium Class A office buildings over older Class B assets.

Iași benefits from a substantial stock of modern, high-quality office space. However, demand remains relatively lower than in other regional markets, resulting in a comparatively higher vacancy rate. At 13.3%, Iași records the highest office vacancy level among Romania’s major regional cities, although this figure is largely driven by older, less competitive buildings. Premium office assets continue to perform strongly, with leasing activity primarily consisting of renewals and expansions within established business parks.

With a total modern office stock of approximately 296,000 sqm, Iași ranks as Romania’s second-largest regional office market after Cluj-Napoca (340,000 sqm) and slightly ahead of Timișoara (293,000 sqm).

Ionuț Pavel, Office Buildings Manager, United Business Center Palas:

“Iași has established itself as a strong player in both the Romanian and wider regional office markets. In terms of attracting international companies, the city competes not only with other Romanian cities but increasingly with business destinations across Europe, benefiting from a highly qualified workforce, competitive operating costs and an attractive quality of life.

We started 2026 by signing new lease transactions exceeding 3,300 sqm across Palas and Palas Campus. At the same time, we are engaged in advanced negotiations for larger office requirements of more than 1,000 sqm, although most current enquiries are for spaces ranging between 300 and 500 sqm. Demand is primarily driven by companies operating in banking, business services and AI solutions.

We tailor each project to our tenants’ specific requirements, which frequently involve redesigning layouts, reconfiguring office space and providing a high degree of flexibility. Our objective remains to maintain occupancy levels between 95% and 100% across all office buildings within the IULIUS network.”

New Residential Market in Iași: Moderate Price Growth Keeps the City Among Romania’s Most Affordable
New Residential Market in Iași: Moderate Price Growth Keeps the City Among Romania’s Most Affordable 2560 1440 ROMANIA PROPERTY CLUB

In April 2026, the average asking price for new apartments in Iași reached EUR 2,053 per sqm usable area, marking a 15% year-on-year increase, according to the Imobiliare.ro Index. Despite this upward trend, Iași continues to be one of the most affordable residential markets among Romania’s major cities.

For comparison, the average asking price for new apartments stands at EUR 3,434/sqm in Cluj-Napoca, EUR 2,717/sqm in Brașov, EUR 2,245/sqm in Timișoara, and EUR 2,632/sqm in Bucharest. The only major city with a comparable price level is Constanța, where the average reaches EUR 2,112/sqm.

At the same time, the supply of newly built homes in Iași declined significantly during the first part of 2026, falling 43% compared with the same period last year. Around 1,240 new apartments were available for sale during the first quarter of 2026.

The city’s highest residential prices are recorded in the Ultracentral area, where average asking prices exceed EUR 3,100/sqm, followed by the Copou district at approximately EUR 2,800/sqm. Meanwhile, Bucium, Dacia, and Mircea cel Bătrân remain the city’s most affordable residential neighbourhoods, with average asking prices below EUR 1,800/sqm.

IULIUS launches TILIA – Today’s Ideas and Leadership In Action (Summit of Romanian Cities), in partnership with the European Bank for Reconstruction and Development (EBRD)
IULIUS launches TILIA – Today’s Ideas and Leadership In Action (Summit of Romanian Cities), in partnership with the European Bank for Reconstruction and Development (EBRD) 2560 1707 ROMANIA PROPERTY CLUB
  • IULIUS launches new national initiative dedicated to concrete solutions for the development of Romanian cities.
  • The first edition of TILIA Romanian Cities Summit will take place in Iasi on April 23-24, 2026.
  • Over 300 leaders from administration, investment and financing, architecture and civil society gather in Iasi to discuss urban planning and mobility, public-private partnerships and affordable housing.
  • EBRD, one of the largest institutional investors in Romania and a leader in urban regeneration and sustainable real estate, joins TILIA as strategic partner to advance practical, finance‑ready solutions for greener, more inclusive cities.
  • First ever architectural exhibition from Foster + Partners, a renowned international architecture firm, to open to public at the Palace of Culture in Iași. Available for visit April 7 – May 3, 2026.

IULIUS announces the launch of TILIA – Today’s Ideas and Leadership In Action, a national initiative dedicated to concrete solutions for the development of Romanian cities. Implemented through the IULIUS Foundation, TILIA marks the beginning of an annual initiative of dialogue and collaboration for urban development. The first edition of the Romanian Cities Summit will bring together, on April 23–24, 2026, at the Palace of Culture in Iași, over 300 mayors, architects, urban planners, representatives of international financial institutions, academia and civil society, to build together applicable solutions for a better life in Romania’s cities. The summit will be complemented by a national premiere architecture exhibition that can be visited at the Palace of Culture between April 7 and May 3.

The ambition of the initiative is to become an annual benchmark for all actors involved in the transformation of cities in Romania – a space for dialogue in which the urban vision is directly connected with concrete financing and implementation mechanisms, in order to generate real solutions and collaborations that can be put into practice.

“We often talk about cities either in terms of the future or looking backwards. Through TILIA we want to bring the conversation to the present, to what we can do concretely, today, for the cities in which we live. We thought of this approach as a framework in which administrations, investors, architects, academia and civil society work together, not only to generate ideas, but to transform them into applicable solutions, based on real examples and on the application of lessons learned and on the exchange of good practices” said Raluca Munteanu, Development Director, IULIUS.

“The EBRD is delighted to partner with IULIUS in TILIA, bringing Romania’s cities into the spotlight and working together to chart practical pathways towards greener urban spaces, better housing standards and more inclusive communities. We’re excited to lend our expertise to drive the initiative forward.” said Victoria Zinchuk, EBRD Director, Head of Romania.

Future Proof: Foster + Partners architectural exhibition (April 7 – May 3, 2026, Palace of Culture, Iași)

One of the key moments of the first edition is the exhibition, Future Proof by Foster + Partners, presented for the first time in Romania. Recognized worldwide for emblematic projects on six continents and built projects in over 45 countries, Foster + Partners will bring to the Palace of Culture in Iasi 30 models, 3D modulations of representative international projects.

The opening of the exhibition will take place on April 7, 2026, and the works can be visited until May 3, 2026 at the Palace of Culture in Iași – offering the general public, but also professionals in the field, the opportunity to explore decades of world-renowned architecture and urbanism, from Apple Park to the Great Court at the British Museum, the Reichstag (the new building of the Berlin

The exhibition reflects Foster + Partners’ approach to architecture and urbanism, built over more than five decades, around responsible, adaptable and sustainable design. From interventions on historic buildings to masterplans for low-carbon cities and urban systems, the projects presented explore how infrastructure, energy and public spaces can contribute to the development of resilient communities.

Maximilian Zielinski, Senior Partner, Foster + Partners, said: “This is an exciting opportunity to present over five decades of the practice’s work to the people of Iași – inside an incredible building that is the centrepiece of our new masterplan for the historic area. The exhibition sheds light on our approach, which has always been defined by a future-facing commitment to innovation and responsible design”.

During the TILIA – Today’s Ideas and Leadership In Action, the exhibition will be complemented by a masterclass held by the Foster + Partners team, giving architects, urban planners and decision-makers the opportunity to dialogue directly about the application of these principles in real projects.

IULIUS entered a new strategic phase in its development and partnered with Foster + Partners on two projects that were underway: the redevelopment of the Palas mixed-use complex adjacent to the Palace of Culture in Iași, and a vision for the urban regeneration of 38 hectares of former industrial land in central Constanța.

Romanian Cities Summit: from vision to implementation (April 23-24, 2026, Palace of Culture, Iași)

The first edition of the Romanian Cities Summit is built around the idea that cities transform when vision and implementation are approached together.

Day one, April 23 – Urban Vision and Design – explores the principles behind vibrant and people-oriented cities, with international perspectives and case studies in urban regeneration.

The next day, April 24 – Financing and implementation – moves the discussion from vision to concrete mechanisms: financing urban projects, structuring public-private partnerships and solutions for one of the most pressing urban challenges: affordable housing.

Full agenda is available on TILIA official website.

On the main stage, representatives of commercial banks, international development finance institutions together with public policy experts will debate the current challenges of cities – from financing to the legislative framework – with the aim of generating solutions that can then be taken over by all the actors involved.

In parallel, on the second stage, Cities in the Making: Design, Culture and Nature explores the forces that shape the character of a city – from architecture and creative industries, to mental health and green infrastructure.

At TILIA – Today’s Ideas and Leadership In Action, the Romanian Cities Summit, an event held between April 23-24, in Iași, over 300 participants – mayors, architects, urban planners, representatives of academia and civil society – are expected to discuss concrete solutions for the development of cities in Romania.

About TILIA – Today’s Ideas and Leadership In Action

TILIA – Today’s Ideas and Leadership In Action, the Summit of Cities in Romania, is an initiative developed by the IULIUS group, through the IULIUS Foundation, dedicated to concrete solutions for the development of cities in Romania.

TILIA is designed as an annual initiative, which brings together public administrations, investors, financial institutions, architects, academia and civil society in an implementation-oriented framework of dialogue and collaboration.

TILIA aims to become a benchmark for collaboration between actors involved in urban development in Romania.

Details: www.tilia-summit.ro

IULIUS and Atterbury Europe secure the largest loan granted to a real-estate development in Romania – 400 million Euro for the RIVUS Cluj-Napoca mixed-use urban reconversion project
IULIUS and Atterbury Europe secure the largest loan granted to a real-estate development in Romania – 400 million Euro for the RIVUS Cluj-Napoca mixed-use urban reconversion project 1000 500 ROMANIA PROPERTY CLUB

RIVUS Cluj-Napoca, the mixed-use urban reconversion project developed by companies IULIUS and Atterbury Europe, was granted the largest loan for a new real-estate development in Romania. The loan adds up to approximately 400 million Euro and it is in the form of syndicated financing granted four loan institutions: Erste Bank, BCR, BERD, and BRD. RIVUS restores 14 hectares of a former industrial platform back to the city, in the form of a mixed-use project with likely the widest functional diversity in Romania – retail, office, culture, entertainment, park. The project investment is estimated upwards of half-billion Euro, and it is currently in the building permitting phase.

 

RIVUS Cluj-Napoca is a project tackling the urban reconversion of a brownfield area spanning more than 14 hectares into a regional attraction, customized to the expectations and needs of the community and the city. This is a sustainable project and the concept for it was designed by the prestigious international architecture firm UNStudio, with a focus on leveraging Someș River and making it accessible to the public, and integrating the entirety of the former industrial area with the city as a pole of urban development. The largest loan granted to an industrial real estate development in Romania, adding up to 400 million Euro, was secured for this project developed by companies IULIUS and Atterbury Europe. This is a green syndicated loan, secured by meeting the LEED Platinum and EDGE Advanced sustainability standards, which cover the entire development-operation-top-up cycle. The syndicate of banks providing the financing is comprised of Erste Bank (Lead Arranger), Banca Comercială Română (BCR), European Bank for Reconstruction and Development (EBRD), and BRD Groupe Société Générale. The financing primarily focuses on the retail component of the project, including the cultural areas and green spaces, which means a total leasable area of 132,500 sqm.

“For IULIUS, this loan continues the series of premieres in terms of financing: from the first green loan granted to a Romanian company back in 2021, to the largest real-estate refinancing loan in Romania in 2022, and now the largest development loan in the industry. To us, all these milestones certify the attractiveness and quality of IULIUS projects. We are excited that every single time we are able to attract new partners in the financing process, with EBRD now joining the group of banks with which we are collaborating. The mix of local, regional, and global banks provide the financial stability we need in order to focus on what we do best: large scale green mixed-use project, with significant investment values (usually upwards of half-billion Euro), in central locations, and contributing to the economic development of their respective local and regional communities. The trust placed in us by our clients, tenants, and banks motivate us to bring ever more daring, more complex projects on the market, with even greater positive impacts on their respective communities,” said Marius Perșenea, Chief Operating Officer IULIUS.

RIVUS – The largest lifestyle center in Romania

The functional diversity of RIVUS includes:

  • The largest retail area in Romania, spanning 142,000 sqm (integrating the shopping mall, as well as the complementary retail facilities) in a mixed-use concept that enhances the shopping experience with public and leisure services and facilities
  • More than 400 stores, including regional and national premieres
  • 30+ new concept-restaurants and coffee shops overlooking Someș River
  • A new park and landscaped green spaces spanning more than 52,000 sqm
  • Japanese rooftop garden
  • Two industrial buildings reconverted to accommodate cultural venues, office spaces, and services
  • Live arts center– feature integrated for the first time in a real estate project based in Romania
  • First-to-region entertainment concepts for all ages
  • The latest cinema technologies for the first time in Transylvania, as well as open air cinema

Premium green office spaces – 15,000 sqm GLA

International fashion brands Lefties and Stradivarius to open in north-east Romania: the latest store concepts in Iulius Mall Suceava!
International fashion brands Lefties and Stradivarius to open in north-east Romania: the latest store concepts in Iulius Mall Suceava! 1600 723 ROMANIA PROPERTY CLUB

IULIUS Company and fashion retailer Inditex are bringing the most modern store concepts by the Lefties and Stradivarius brands for the first time in north-east Romania in Iulius Mall Suceava. Lefties is a fashion brand catering to the entire family, combining modern design with affordable prices and digital retail technologies. Stradivarius is the women’s fashion brand in the Inditex portfolio, acclaimed for its youthful and sophisticated style. The expansion of Iulius Mall Suceava, set to be completed by the middle of this year, will also include other international brands, drive thru type restaurants, coffee shops, a gym, green spaces, and additional parking spaces.

IULIUS Company is consolidating its partnership with Inditex Group, one of the world leading fashion retailers. Starting the first half of this year and for the first time in the region, Iulius Mall Suceava customers will be able to explore the most modern store concepts available around the world and the latest collections by brands Lefties and Stradivarius.

Lefties will open the latest Digital Store concept, set to integrate advanced technologies that allow for a straightforward and efficient shopping experience. The store will include smart fitting rooms, easy pay cash registers, in-store return stations, and a clothing and accessories customization area. Lefties will have a generous floor area spanning 3,000 sqm, offering timeless, sustainable and high quality essentials for the entire family. The collections for women, men, teenagers, girls, boys and babies are created considering the customers’ everyday needs, with an emphasis on versatile and easy to wear clothing at competitive prices. This will be the first Lefties store in the east of the country and the fourth in Romania.

Stradivarius is one of the Spanish concern’s most beloved brands, operating 850 stores in 64 countries. The brand exclusively addresses women and is recognized for its youthful modern style and versatile design, as well as its affordable pricing. Through every season, the brand offers collections inspired by the latest trends on international catwalks, from everyday clothing pieces to formal wear and accessories.

The two Inditex stores will open in the first half of this year, upon completion of the Iulius Mall Suceava expansion, which is set to deliver a total leasable area of 60,000 sqm. The new shopping area will integrate modern shopping and dining concepts, including department stores and fashion brands, some for the first time in the region, as well as restaurants, coffee shops, drive-thru venues, ice cream parlors, a gym, and additional parking spaces. Furthermore, new access routes will be created, connecting the mall and the additional parking spaces, and the area will benefit from landscaping features, green spaces and ambient features to improve the visitor experience.

Romanian premiere: Foster + Partners, a world leader in contemporary architecture, is designing IULIUS’ developments in Constanța and Iași
Romanian premiere: Foster + Partners, a world leader in contemporary architecture, is designing IULIUS’ developments in Constanța and Iași 750 536 ROMANIA PROPERTY CLUB

IULIUS Company, one of the largest real estate developers in the country, marks a new strategic development stage and will collaborate with Foster + Partners, one of the most innovative and world-renowned architecture firms, to implement the company’s new urban development vision. The two projects that IULIUS is developing in Iași and Constanța will harness Foster+Partners’50-plus years of global expertise.

The architects’ holistic approach will be reflected in these two major projects:

  • Palas Iași reconfiguration: the company’s landmark project and its best-performing one in the retail segment outside the Capital will be reconfigured to meet the current demands of the market and the community. The transformation will highlight the uniqueness of the location by integrating the Palace of Culture and positioning it in the city’s civic and cultural center and thus enhancing the visitor experience.
  • Large-scale urban reconversion project in Constanța: an investment upwards of 800 million Euro targeting the Oil Terminal platform, which will be completely decontaminated and reconnected to the rest of the city, in a modern, vibrant, and sustainable urban environment. The concept proposed by Foster + Partners offers a vision for the redevelopment of this area, now completely isolated from the rest of the city, transforming it into an attractive hub, with integrated functions that will support the economy, tourism, and social life. The project will revitalize Constanța and strengthen the city’s status as a strategic economic, social, and cultural hub, while contributing to regional and national competitiveness.

“Our entire activity over the past 25 years has revolved around projects that transform cities into better spaces for communities. The projects initiated with Foster + Partners are two of the most complex initiatives we have undertaken so far. In Iași, we are upgrading an existing complex in an iconic historical location, where reverence for the surrounding monuments, such as the Palace of Culture, is paramount. In Constanța, we are likely dealing with one of the largest decontamination projects in Europe and the opportunity to give an identity to an area currently isolated and contaminated. We propose to fully reintegrate this urban space, now an enclave, into the city and transform it into a vibrant center with functions that the city currently lacks. With the expertise of Foster + Partners architects and by working closely with the authorities and the respective communities, we are confident that we can implement a vision that redefines urban development standards in Romania,” said Iulian Dascălu, President of IULIUS Company.

“We are honored to work with IULIUS in addressing the challenges of urban regeneration in two cities of great significance in Romania. Both the Palas Iași project, with its historical and cultural complexity, and the reconversion of the platform in Constanța, a large-scale industrial area, offer opportunities for creating lasting positive impact. It is rare to find a developer with the courage and vision to take on such ambitious challenges. We are proud to lend our expertise and we are confident that, through this collaboration, we will transform these locations into sustainable and attractive destinations, serving as models for the future,” said Maximilian and Daniel Zielinski, Senior Partners Foster + Partners.

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