The most important event on the local retail market is the redevelopment of the former Era Shopping Park into Moldova Mall.
Prime Kapital leads the transformative effort that will bring the largest hypermarket in the region, more than 200 shops with the most diverse fashion retailers, 30 restaurants, a novel leisure concept, a home design solution, and the flagship IKEA store. The opening of the regional super-mall is expected for Q2 2025.
The development of Silk District triggered important changes in the South side. In addition to the residential and office components, Silk District will bring c.a. 10,000 sq m of commercial spaces to the market. The success of Silk District raised motivation for the owners of the land plots in the area to bring to life residential, commercial, and office concepts.
Dedeman filed for PUZ for a commercial development adjoining Felicia Shopping Center. The development is on 4.6 ha concessioned by the City Hall; while the plot was leased more than 15 years ago, Dedeman chose to develop once the area brought qualitative residential developments. Kaufland is building a large 35,000 sq m retail park in the immediate vicinity.
The established retail leader, Iulius Group, has ambitious plans to revamp one of Romania’s best-performing shopping centers – Palas Mall, to accommodate new tenant demand. Over the past year, the group welcomed new fitness and cosmetics retailers across the shopping centers and retail parks the company developed in the region. Through community-oriented events, Iulius Group nurtures a solid relationship with the people of Iasi and generates traffic that is hard to match by other schemes in Romania.
“Thus far, 2024 has been a very good year for Palas, recording increased sales and footfall figures in the first nine months of the year compared to the same period last year. IULIUS Company has invested approximately half-billion Euro in Iaşi to this date, and we continue to believe in the potential of this city, which is why we have new investments planned here. This is in reference to a revitalization and refurbishment process for Palas, whereby the project will reconfirm its dominant position as the strongest entertainment and shopping center outside of Bucharest. Considering the footfall upwards of 22.1 million visitors in 2023, the financial results, central location and mixed-use concept, Palas Iaşi is a destination of major interest for retailers planning to expand in Romania, both in the high-end and mass market brand segments. For this reason, Palas will be coming soon with a series of novelties, following a comprehensive refurbishment process, set to make a substantial update to the multiple experiences available to our customers, whom we have accustomed to being pleasantly surprised.”
