Iulius

IULIUS announces the name of the urban conversion and regeneration project in Cluj-Napoca: RIVUS
IULIUS announces the name of the urban conversion and regeneration project in Cluj-Napoca: RIVUS 1600 800 ROMANIA PROPERTY CLUB

The latest urban regeneration and reconversion project proposed by IULIUS Group in Cluj-Napoca, the urban zoning plan of which was recently approved by the Local Council, will be named RIVUS. The Latin-origin word means ‘river’ and highlights a key-component of the project, namely its proximity to Somes River.

The investment estimated upwards of half-billion Euro made by companies IULIUS and Atterbury Europe will materialize in the mixed-use project with likely the widest diversity of uses in Romania – retail, office, culture, entertainment and park – with a total leasable area of 165,000 sqm.

Discover the largest urban reconversion project in Romania at www.rivus.ro and on its social media platforms at www.instagram.com/rivuscluj_, and www.facebook.com/rivuscluj.

The concept for the RIVUS project was signed by the architects at UNStudio, a world-renowned Dutch architecture firm, drawing inspiration from the expectations of the community. Thus, RIVUS will integrate the following:

  • The largest retail area in Romania, spanning 145,000 sqm (integrating the 120,000 sqm 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
  • Fresh Market for local producers
  • A new park and landscaped green spaces spanning more than 52,000 sqm
  • Japanese rooftop garden
  • Two industrial buildings reconverted into cultural venues and office spaces
  • Live arts center and auditorium
  • First-to-region entertainment concepts for all ages
  • The latest cinema technologies for the first time in Transylvania, as well as open air cinema
  • 15,000 sqm GLA premium green office facilities
  • Investments in connectivity and alternative mobility

“Our proposal for the former Carbochim platform has a strong natural component, which consists in developing the Somes riverbanks, completing the green-blue corridor in the north side of the city, and creating a spectacular urban garden from scratch, which will cover a third of the total area of the project,” said Sorin Guttman, Manager of RIVUS.

RIVUS Cluj-Napoca, the first project implemented by UNStudio in Romania

The project brings for the first time in Romania the renowned Dutch architects from UNStudio, who have in their portfolio flagship projects around the world, such as the Mercedes-Benz Museum in Stuttgart, The Lyric Theatre Complex in Hong Kong, the Doha metro or the Erasmus Bridge in Rotterdam.

“I am so proud that we have the opportunity to create our first project in Romania right here, in Cluj. It is really exciting to see that we can connect this old industrial area to the more recent Armătura Park. We also want to bring the people on the Carbochim site back to the water, to continue the green belt along the river,” said Arjan Dingsté, Director and Senior Architect at UNStudio.

The largest entertainment & shopping destination in Romania: cultural and leisure concepts, and first-to-market brands

For the first time in Romania, the project is bringing in the famous Dutch architects at UNStudio, whose portfolio includes iconic projects all over the world, such as the Mercedes-Benz Museum in Stuttgart, the Lyric Theatre Complex in Hong Kong, the Doha Metro, or the Erasmus Bridge in Rotterdam.

RIVUS is set to be the largest lifestyle center in Romania and a hub of the entertainment segment in the country. RIVUS Mall will accommodate long-anticipated international brands, flagship stores of major retailers in segments such as home&deco, health&sports, fashion and entertainment, as well as concepts by local producers and entrepreneurs. A space where every member of the local community belongs, with family-friendly uses, and a go-to destination for fashion, lifestyle, and entertainment, set to include 400+ stores.

RIVUS proposes first-to-market leisure solutions by means of the first auditorium integrated in a shopping center and a live arts center (RIVUS Live Arts) managed in partnership with the cultural community of Cluj, set to operate in the former arcade hall of Carbochim. Besides this, the red brick administrative building will also be preserved from the former industrial site, transforming it into RIVUS Hub, a venue combining office spaces and services.

The focus on families will be reflected in the fitting out of playground areas, first-to-market entertainment concepts, new cinema technologies and open air cinema, educational concepts, sport and wellness facilities, as well as a multidisciplinary medical hub.

The project includes a Fresh Market concept and 30 concept locations, themed restaurants, and cafes with terraces located in the newly landscaped garden from scratch.

The development proposes office facilities of approx. 15,000 sqm GLA.

RIVUS Garden helps create a 14 hectares green connection in the north of Cluj

RIVUS Garden will be the green anchor of the project, in the form of a 52,000 sqm park in the heart of the city, designed by foreign and local landscape architects, and adding to the already upgraded Armătura Park and Feroviarilor Park located nearby. Together they will delineate Someș River with approximately 14 hectares of landscaped green spaces, as well as promenade and leisure infrastructure.

As with its other similar projects developed in Iași and Timișoara, IULIUS is focused on the solid connectivity with the city, and has thus undertaken consistent infrastructure investments under an agreement with the Municipality. These will include the creation of a new road bridge across Someș River, two pedestrian bridges, traffic coordination solutions, upgrading some nearby streets, as well as fitting out bicycle infrastructure, in line with the authorities’ mobility strategy. The project will also include approx. 4,800 underground and aboveground parking spaces, 900 of which will be fitted with EV charging connectors, as well as 2,500 bicycle parking spaces.

The investment will be made by companies IULIUS and Atterbury Europe. The project is currently in the building permitting phase. The first phase of the works, namely the dismantling of the former industrial facilities, is nearing completion, as this endeavor is independent of the approval and permitting process for the new project.

20,000 sqm to be added to the 170,000 sqm of modern retail stock
20,000 sqm to be added to the 170,000 sqm of modern retail stock 2048 1365 ROMANIA PROPERTY CLUB

29.11.2023

Iulius Group pioneered modern retail in Iasi when it developed the first shopping center outside Bucharest – Iulius Mall, in 2000. Initially a 19,000 sqm development, the retail scheme doubled GLA through subsequent expansions. Today, it hosts over 180 shops, a cinema, a Carrefour hypermarket, and a food court.

Iulius Mall, Iasi

However, the primary shopping destination for Iasi and the broader Northeast region is Palas Iasi, developed by the same visionary investor. Palas Iasi is part of Romania’s most significant urban regeneration projects. It features the renovation of the iconic Palace of Culture, seven United Business Center office buildings, a hotel, an events expo, an open-air theatre, and a 62,000 sqm shopping center. Probably the crown jewel of the Northeast region, the total investment in Palas Iasi stood at 310 million EUR and served as essential infrastructure for the overall economic development. Increasing living standards by offering modern retail, office, and entertainment options, Iasi attracted the second youngest workforce after Bucharest. In addition, a steady number of multinational companies provided training and an increased average income, making Iasi a desirable destination not just for university studies but for permanent living.

Iulius Group brought two other concepts to the market. The first one is Family Market, two strip centers located in Iasi’s most dynamic suburban areas (Miroslava and Bucium). The second is the 6,000 sqm commercial area in Palas Campus, a destination for F&B and services to serve the 5,000 employees in the business center.

Other retail schemes in Iasi include Era Shopping Park, a 50,000 sqm retail park located towards the exit to Bucharest. Inaugurated in 2008, Era Shopping Park is anchored by key retailers such as Carrefour, Mobexpert, Rovere Mobili, Brico Depot, Altex, Decathlon, JYSK, Sportisimo, Pepco, Kenvelo, etc. Shopping Park Iasi, opened in 2014 by Square 7, spans 11,000 sqm leased by Flanco, MaxiPet, JYSK, and Kik. In addition, the 10,000 sqm commercial area in the Silk District that developed in five subsequent phases shall enrich the modern retail offering of the city.

Thus, the total stock of modern retail surpasses the 170,000 sqm threshold. The c.a. 20,000 sqm of modern retail expected on the market should increase the retail density  (retail space to 1,000 inhabitants) to 650, an indicator lower than in most other cities in Romania — the number signals room for growth, pending continuous economic development and wage increase. Iasi’s prime shopping center rent is 55 Eur/sqm, whereas retail park rent ranges between 7 to 12 Eur /sqm.

However, there is encouraging news that places faith in the city’s economic prospects. IKEA most recently announced a 24,000 sqm store, its fourth in Romania, opening in Era Shopping Park in 2024. This step confirms that there is a critical mass of young families looking to buy or update property, with an income level matching Western standard.

Iasi office market capitalizes on the talent pool nurtured by the seven universities in the city
Iasi office market capitalizes on the talent pool nurtured by the seven universities in the city 2560 2560 ROMANIA PROPERTY CLUB

27.11.2023

The vision of building the first modern office building in Iasi was the crux of the city’s development. Traditionally, blue-collar jobs set the premises for developing more sophisticated services that require modern infrastructure. However, in the case of Iasi, the pioneering led by the Iulius Group set the premise for the city’s economic development. The group transformed the central area through one of the most significant mixed-use urban regeneration projects in Romania.

Palace Campus, Iasi

Following the bold vision of “build, and they shall come,” Iulius developed the first class A office building in Iasi, United Business Center I – a shy 7,000 sqm in 2010, 15 years later than the first modern Class A office buildings delivered in Bucharest. Fast-forward a decade plus later, Iulius developed 130,000 sqm, representing 50% of the total office stock in Iasi and more than two-thirds of the Class A stock. Its most recent portfolio addition is Palas Campus, a 120 million EUR investment spanning over 54,000 sqm of offices and 6,000 sqm of commercial areas. It is home to Amazon, Microsoft, Cognizant, Expeleo, AMD, Hella, and many others. These reputable companies joined a group of over 70 multinationals that decided to capitalize on the talent pool nurtured by the seven universities in the city.

In addition to the United Business Center and Campus buildings, there are two other notable office developments in Iasi. Moldova Center, the reconversion of a former department store into a functional office building, added 16,000 sqm of GLA in the center of the city. It was fully leased by companies such as Webhelp, Conduent, 3Pillar, and HCL. Tester Group built Ideo Centro (later rebranded as Tester Technology Park), a 25,000 sqm business park hosting KPMG, Tata Technologies, Oracle, and Conduent, among others.

In Iasi, the asking rents range from 12 to 15 EUR/sqm, and the vacancy rate is still in the single-digit range, with a preference to work from the office, as the commute is not as burdening as in Bucharest and the workforce requires more in-person time for training and collaboration. Moreover, people enjoy the modern facilities and sense of community provided by the integrated commercial–office schemes and the apprenticeship that comes from shadowing. However, the low vacancy rate and the limited competition of class A office buildings lead to lower tenant incentive packages than in Bucharest.

Prime Kapital is the second prominent investor who took a leap of faith and embarked on a large mixed-use urban regeneration project in Iasi. Silk District is a large-scale residential and office scheme complimented by 10,000 sqm commercial spaces and a 4 ha private park to serve residents and the neighboring area. The first phase of the BREEAM Outstanding office park (c.a. 104,000 sqm at maturity, 5 buildings) is scheduled for delivery in Q4 2023, after a slight delay from its announced target date. Communication concerning the future tenants is pending.

Iasi to take off in new development stage
Iasi to take off in new development stage 2560 2560 ROMANIA PROPERTY CLUB

27.11.2023

Public investments of 1.2 billion EUR and private investments in new, modern, real estate projects of half of billion EUR are transforming Iasi in one of the most important cities on Romania’s investment map.

Iasi

Ongoing public investments:

  • 100 million EUR for the expansion of the airport Terminal 4, with the aim of reaching an annual traffic of 3.3 million passengers.
  • 670 million EUR for Iasi Emergency Regional Hospital.
  • 300 million EUR for Mircesti-Pascani lot from A7 motorway.
  • PNRR 175 million EUR for city modernization: trams, schools, and old blocks refurbishments.
  • 40 million EUR from EBRD for Dacia tram depot.

Real estate investors such as Iulius, Impact Developer & Contractor, Prime Kapital, plus retailers such as Ikea and Jumbo, also added Iasi to their portfolio.

Iulius finalized this spring a 120 million EUR investment in Palas Campus. Impact obtained the building permit for a major scheme totaling 1,062 apartments on Copou hill. Prime Kapital is developing a mixed-use project on the former Teba industrial platform: 1,549 apartments and 100,000 sqm of class A offices. Jumbo inaugurated a 10,000 sqm unit in October, while Ikea announced Iasi as the third city where it will build a new store in Romania.

The modern office stock counts for 260,000 sqm. The asking rents range from 12 to 15 EUR/sqm and the vacancy rate is still in the single-digit range.

The city is weak in terms of new, modern housing units. Data collected by RPC from imobiliare.ro show that offers for the first three quarters in 2023 total 1,275 apartments, of which the new units listed count for 410, a minus of 18% as compared to the same period of the previous year.

Regarding the retail sector, 20,000 sqm will be added to the existing 170,000 sqm. The broader Northeast region is the least developed in terms of industrial and logistics, representing a mere 2% of the total modern stock.

In the last 10 years, although Iasi hotel tourist arrivals increased by 105% (around 156,000 new tourists), the number of new hotel rooms increased with only 11%. Branded hotels represent only 12% of total rooms capacity and all of them are within “3-star” ranking.  There are no 4* or 5* branded hotels in Iasi.

The county hosts 983,506 people, second only to Bucharest. The metro area of the city of Iasi is where more than half of the county’s population resides. The strong base of an educated workforce attracted dozens of reputable multinational companies, transforming Iasi in Romania’s Silicon Valley.

The proximity to Ukraine and the Republic of Moldova makes Iasi an informal capital for the broader region.

Cluj-Napoca, Romania’s second office market
Cluj-Napoca, Romania’s second office market 1617 1080 ROMANIA PROPERTY CLUB

08.11.2023

The world-class economic development is sustained by modern working infrastructure. The total stock of Class A office buildings in Cluj is 340,000 sqm, with expected future deliveries of 75,000 sqm.

Cluj-Napoca

Headline rents for prime Class A properties range between 13.5 to 15 EUR/sqm. While the vacancy rate (6%) indicates a landlord’s market, it is important to note that since the work-from-home switch, the total market activity was a fraction of Timisoara’s, registering only 9,400 sqm in 2022 and 5,900 sqm in H1 2023. Moreover, there is a growing number of companies looking to sublease.

On the one hand, the work-from-home/hybrid model coupled with pricy residential led younger professionals to relocate with families in the neighboring counties, thus decreasing the utilization rate of the office. On the other hand, companies are aware of the limited new supply, as the majority of the pipeline is foreseen to materialize in more than 24 months, geographical constraints of Cluj-Napoca in lack of a developed metro infrastructure, and vivid memories of the race to secure space in line with exponential growth in a tight market. Moreover, companies have done further hiring over the past few years and expect the office as is to become right-sized even in a hybrid work world.

Iulius put its toll on Cluj, following the same transformative mixed-use urban regeneration strategy applied in Iasi and Timisoara. The office component, under the United Business Center umbrella, features three separate projects built in 2008, 2014, and 2018, totaling 27,000 sqm, with future development possibilities for UBC Riviera. Companies that chose to work in UBC buildings include Endava, Genpact, Office Depot, and Analog Devices.

The Office is one of the emblematic business parks in ultra-central Cluj-Napoca. The 60,000 sqm of office and retail were built by Mulberry Development and Nepi Rockcastle custom to Cluj-Napoca market needs. As this was an accelerated growth market, the business park was constructed in three phases between 2013 and 2017 with the end goal of delivering a 9,000 sqm united floor plate, that could host up to 1,000 employees on a single level. As the metro project is years in the making, The Office concept features 1,100 car parking spaces and up to 400 bicycle/motorbike racks. The modern amenities, 200 seats capacity conference center, and visually appealing landscaping serve community building purposes for companies such as Deloitte, Yonder, 3Pillar Global, Bombardier, Betfair, Steelcase, National Instruments and Bosch. In 2019, Paval Holding added the landmark property to their portfolio for c.a. 130 million EUR.

Hexagon Offices is a Class A business complex delivered in mid-2019 by a joint venture between local entrepreneurs who managed to secure top-tier tenants such as Cognizant and Accenture. It exchanged hands for 32 million EUR at the end of 2019, being taken over by a Romanian family business.

Belgian Speedwell performed its first development outside Bucharest – a mixed-use residential and office development named Record Park. The 236 apartments were immediately sold out, whereas the 12,000 sqm of offices were occupied by EON, Mass Mutual, or MHP Porsche. It scheme is completed by co-working (Stables) and a large World Class leisure facility.

The above-mentioned schemes are a select few brand-new Class A projects that support the economic development of Cluj-Napoca. Cluj Business Campus, Liberty Business & Technology Park and legacy projects such as Maestro BC, Amera Tower, and City Business Center are a couple of other notable locally developed offices that served the needs of the city.

It is important to note that Cluj proved itself to be the most liquid market outside Bucharest, with major office sales over the past five years totaling 260 million EUR (10% compared to Bucharest, 3x compared to the third-ranked – Timisoara), marking exits to either local investors confiding in the market’s strength or potent national and international investors.

Moving forward, the future looks bright for Cluj-Napoca. While the immediate pipeline is for approx 7,000 sqm (new phases of Liberty Business & Technology Park), two of the most impactful investors in Romania made plans to deploy more than 850 million EUR over the next 5-10 years in Cluj-Napoca. Iulius and Prime Kapital, in partnership with MAS Group committed to the reconversion of 14, respectively 17 ha of conveniently located industrial platforms – Carbochim and Cesarom. The first phase of the office component of the new Iulius Group is 15,000 sqm GLA, whereas the total office component for Cesarom is 49,000 sqm. Further development is limited only by the capacity to cross the finish line of the metropolitan train and underground projects.

Timisoara: one of the highest retail densities in the country 
Timisoara: one of the highest retail densities in the country  1600 899 ROMANIA PROPERTY CLUB

28.10.2023

The modern retail stock in Timisoara is well developed, registering one of the highest retail densities in the country (1,055 sqm per 1,000 inhabitants), reflecting investors’ and retailer’s trust in the long-term economic strength and resilience.

Iulius Mall, Timisoara

The investors’ focus on this city determines a dynamic land market. Data from local consultancy company Hitch & Mosher show that prices for permitted plots vary between 35-60 Euro/sqm for logistics developments, 113-350 Euro/sqm for retail developments and 155 up to 1,490 Euro/sqm for residential and mixed-use schemes.

The 265,000 sqm total stock consists of approximately two-thirds modern shopping centers and a third is reserved for commercial galleries and retail parks. The two dominant schemes are Iulius Town and Shopping City Timisoara, built by two of the most experienced retail developers (Iulius Group and Nepi Rockcastle, respectively).

The first modern mall was delivered by Iulius Group in 2005, as part of the integrated mixed-use development of Iulius Town, a 220 mil EUR investment. In addition to the office component, United Business Center, the scheme features a large exhibition & events center offering up to 2,250 seats for corporate set-ups and a fitness & wellness center managed by the country’s most experienced operator – World Class.

Iulius Mall, the first modern shopping center in the city benefited from an extension in 2019, reaching 102,000 sqm, making it the largest shopping area outside of Bucharest. It hosts the most representative retailers, such as Peek & Cloppenburg, iStyle (Apple partner), Calvin Klein Jeans, Inditex Group (Zara, Stradivarius, Pull & Bear), Guess, H&M, C&A. Cinema City operates a modern 12-room movie theatre.

Nepi Rockcastle inaugurated a 90 mil EUR new development at the end of 2015. More than 70,000 sq m GLA are occupied by Peek & Cloppenburg, Sephora, Levi’s, US Polo Assn, Inditex Group (Zara, Stradivarius, Pull & Bear), Reserved, Intersport, C&A, H&M, and other service, fashion, and food & beverages operators, as well as a Cinema City. In addition, the scheme is completed by a 10,000 sq m Carrefour supermarket and a 16,000 sqm Dedeman DYI that provide a complete shopping destination.

IKEA is one of the most prominent retailers that expressed trust in Timisoara by opening earlier this year its third store in Romania, the first outside the capital city. The 60 mil EUR investment covering more than 26,000 sqm is a BREEAM-certified big-box. The store serves both Timisoara and the wider West region – the most dynamic outside Bucharest-Ilfov. 

Smaller commercial galleries address a wide pallet of the city’s shopping needs. From legacy (Bega Shopping Center department store) to newly built (Sud Plaza) cost-efficiency retailers serve the needs of a wide spectrum of budgets and price-quality ratios. Scallier, through its FunShop brand, serves the city through two 11,000 sqm units, out of which one took over from Prima Shops. Both units are anchored by discounters (Kaufland, Penny, and Lidl).

While the relatively high retail density doesn’t make new developments likely for the foreseeable future, it is important to note that the existing retail schemes not only serve Timisoara Timis and neighbouring counties. Hungarians and Serbs often cross the border to find items and retailers which are not present in their area. Therefore, the real catchment area is larger than the official 320,000; thus, the real retail density is more sustainable and in line with other regional poles.

Iulius has signed a partnership with IFC, a World Bank member, to create a decarbonation strategy for the entire property portfolio
Iulius has signed a partnership with IFC, a World Bank member, to create a decarbonation strategy for the entire property portfolio 2048 1152 ROMANIA PROPERTY CLUB

17.03.2023

IULIUS has recently signed a partnership with IFC, a member of the World Bank Group, for the purpose of developing a strategy to decarbonize the entire portfolio of the company and achieve net-zero emissions. IFC will use the Green Pathways for Real Estate Institutional Portfolios (GRIP) platform to provide solutions for defining, implementing and financing the plans of IULIUS to reduce greenhouse gas emissions and to reach CO2 neutrality as soon as possible. This would be the first such engagement in Romania.

IULIUS Palas, Iasi

IULIUS is consolidating its sustainability goals for the following years and has thus entered into a partnership with the International Finance Corporation (IFC), a member of the World Bank Group. IFC will use the GRIP platform to support the company in the process of putting together a plan of actions to help reduce the carbon footprint across the entire portfolio. “Buildings are responsible for a third of greenhouse gas emissions globally. Through this partnership, Iulius and IFC are helping to accelerate climate action in real-estate development”, said Ary Naim, Regional Manager for IFC in Central and Southeast Europe.

In fact, IULIUS has always built in an environmentally conscious manner and owns the only LEED (Leadership in Energy and Environmental Design) certified nationwide shopping mall network in Romania. This adds to the Palas Iaşi and Iulius Town Timişoara mixed-use projects and the 15 office buildings in the United Business Center network in Iași, Timișoara and Cluj-Napoca, which are all green building certified. “We are particularly excited about this new partnership, which will help us take our sustainability strategy to the next level. The company has already undergone a comprehensive process of implementing high standards of energy efficiency, sustainable management of green spaces, outdoor surfaces and waste, and other sustainable solutions, as confirmed by the LEED certifications. However, we want to contribute even more to maintaining a healthy environment by reducing the carbon footprint in all eight of our projects,” said Dan Adrian Chelaru, Group Sustainability Officer IULIUS. 

Examples of certifications 

  • Palas Iași – the only LEED® Neighborhood Development certified project in Central and Eastern Europe
  • All 15 buildings in the United Business Center network are LEED® certified, of which UBC 0 (the most recent certification) and UBC 3 Timișoara are LEED® Platinum certified.

In addition to meeting the highest modern technical requirements, their implemented solutions, comfort and safety, the projects developed by IULIUS also benefit from hundreds of bike parking spaces, electric vehicle charging stations, excellent access to public transit, all of which helps reduce the use of personal vehicles and cuts pollution. They are also the only real estate projects in Romania to include urban gardens, which are initial investment upwards of € 17 million.

In 2021 IULIUS also obtained the first green loan granted by IFC to a Romanian company, in the amount of € 72 million for Palas Campus in Iaşi. The ample office project, set to open this spring, is also undergoing a dual green certification process: EDGE (Excellence in Design for Greater Efficiencies) by IFC and LEED by the US Green Building Council.

Iulius opens second Family Market in Iasi, following a total investment of € 24 million
Iulius opens second Family Market in Iasi, following a total investment of € 24 million 1548 871 ROMANIA PROPERTY CLUB

09.12.2022

IULIUS inaugurated the second Family Market project, in the Bucium neighborhood of Iași. The proximity retail project brings services and products needed on a daily basis to the residential area that has seen constant development in recent years. McDonald’s Drive Thru, Auchan supermarket, Sinsay and 23 other local and national entrepreneurs provide the customized mix of products and services resulting from community consultation.

IULIUS Family Market – Bucium, Iasi

This year, IULIUS inaugurated two Family Market projects in Iași: the first in Miroslava commune, last summer, and now the one in the Bucium neighborhood. “It is an investment of 12 million euros and we have a retail area of 5,500 square meters, in which we have brought together 26 brands, which have created over 180 new jobs”, says Radu Pârlea, Shopping Center Manager Family Market. “Most are local and national, with fresh and healthy products, from florists, groceries, pastry shops, restaurants, to auto parts, barbershops and services that you need on a daily basis. The concept is designed to respond to the public’s interest in local consumption”.

The new project integrates a McDonald’s restaurant, the second location of the brand with Drive-Thru service and the fourth in the city of Iasi. The restaurant integrates the latest technologies, being equipped with digital screens for displaying menus, kiosks for ordering products. The anchor of the project is Auchan supermarket, a large format concept of more than 2,000 sqm, where customers can find more than 11,000 items on the shelves. The shopping offer is completed by: Sinsay, La Bottega, La Ciambella, Kosarom, Spartan, Fusion To Go (sushi), Dolciano, Dulcinella and Teo`s Café.

German company Infineon Technologies AG opened an R&D center in IULIUS Group’s Palas Iasi complex
German company Infineon Technologies AG opened an R&D center in IULIUS Group’s Palas Iasi complex 420 250 ROMANIA PROPERTY CLUB

12.10.2022

German semiconductor manufacturer Infineon Technologies AG is growing its presence in Romania by opening an office in Iași, located in the Palas mixed-use complex, an investment by IULIUS Group. The new research and development center will initially occupy a 600 sqm area, and will expand in the future. Infineon engineers working here create semiconductor solutions for the automotive industry.

The company currently operates an R&D center in Bucharest and is expanding its business to Iași, by opening an office in the United Business Center 3 office building in the Palas mixed-use complex.

“We are glad that Infineon Technologies decided to join the business community in Palas Iași, an established regional center for major tech companies that create essential solutions for a better life. Iași has grown a lot in the last 10 years and is on the radar of big companies in the most dynamic sectors of the economy, being an attractive city in terms of investments, competing not only with Bucharest, Cluj-Napoca and Timișoara, but also with other similar European cities,” said Ionuț Pavel, Office buildings Manager Palas Iași & Palas Campus.

The new center will accommodate specialists in the development of semiconductor solutions for safer, greener and smarter cars. The office has an initial area of 600 sqm and the company plans to expand in the future.

Infineon Technologies entered the local market in 2005, when it opened a research and development (R&D) center in Bucharest and has grown to over 500 engineers in Romania.

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon are the key to a better future. With around 50,280 employees worldwide, Infineon generated revenue of about €11.1 billion in the 2021 fiscal year (ending 30 September 2021).

The United Business Center premium office space network developed by IULIUS Group includes 14 class A office buildings, with a total area upwards of 182,000 sqm, located in the urban regeneration projects in Iași (7 buildings – 75,600 sqm), Timișoara (4 buildings – 80,000 sqm) and Cluj-Napoca (3 buildings -26,200 sqm). All the buildings are designed, built and operated in an environmentally friendly and people friendly manner, so they are all either certified or pending certification in line with the LEED international sustainability standard developed by the U.S. Green Building Council.

In Iași, the business community formed in the Palas complex has grown steadily, attracted by the young and talented workforce generated by the university center and the modern office infrastructure provided by IULIUS. The interest of the business environment in the Group’s projects was the cornerstone for developing the new Palas Campus project nearby the Palas mixed-use complex. Palas Campus is the largest A class office building in Romania, with a gross leasable area upwards of 60,000 sqm; it is set to open early next year and is already fully leased.

Iulius Town Timisoara reaches 80,000 sqm of premium office space
Iulius Town Timisoara reaches 80,000 sqm of premium office space 420 250 ROMANIA PROPERTY CLUB

04.10.2022

The fourth office building in the Iulius Town Timișoara complex is operational and consolidates the regional business hub in the urban regeneration mixed-use project to a total leasable area of 80,000 sqm and a 40-plus company from three continents community. United Business Center 0 has a leasable area upwards of 30,000 sqm and accommodates the offices of 15 companies operating in the IT & Outsourcing, automotive and service industry.

The fourth office building recently opened in Iulius Town Timișoara, the only urban regeneration mixed-use complex in the west of Romania. Comprising two levels of underground parking, semi-basement, ground floor, 15 floors of office space and two technical floors, United Business Center 0 (UBC 0) has a total leasable area of 30,000 sqm and accommodates the offices of 15 companies and 4,000-plus employees.

“The new building is a project adapted to market requirements, addressing a real need in the office segment for premium office spaces adjusted to the current reality and the employees’ expectations for their working environment. Beyond the state-of-the-art technological equipment, which creates optimal working conditions, and furnishings that encourage the exchange of ideas and socializing, it is also very important to note the services and facilities available to employees, which are increasingly relevant for companies. UBC 0 is fully leased to companies with expansion plans or newcomers in the region, who are joining the business community in Iulius Town Timișoara,” said Laurențiu Manea, Office Buildings Manager Iulius Town Timișoara.

The building accommodates the two-floor center of software developer Endava. Companies that occupy one floor each include the Porsche Engineering Romania development center, the software development center of Cognizant Softvision, and the office of market research and survey company Toluna România. The UBC 0 community also includes the offices of IT consulting & management company Infosys Consulting, the software development center of Haufe Group, the customer relations support service center Linde Global Services Romania, doctari group technology hub, Unbabel technology center in translation, IT Vizion industrial IT solutions center, the service center of brake technology developer TMD Friction, and the local office of the professional services firm PwC Romania.

The new premium office building is integrated in the Iulius Town Timișoara mixed-use complex, which provides immediate access to stores and services, themed restaurants and coffee shops, food court, offices of public institutions, kindergarten and primary school, the largest fitness center in Romania, multiplex cinema including the VIP dinner and movie all-inclusive concept, medical services and multiple leisure opportunities.

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