Iulius Management Center, controlled by businessman Iulian Dascalu, will invest over EUR 220 million in a multifunctional urban regeneration project in Timisoara (western Romania). The project, called Open Ville, will have a total built area of 594,000 square meters and Iulius Mall Timisoara will be integrated in this concept.
Seven Class A office buildings will be erected here, with a total area of over 131,000 sq m, including the highest building in Romania, with a height of 157 m.
Currently, the tallest building in Romania is Sky Tower in Bucharest, with a height of 137 m.
One of Open Ville’s main attractions is the park which will cover an area of over 55,000 square meters, a relaxing outdoor oasis with playgrounds for children, carousel, skating rink, fountains, squares event, over 1,000 trees and 20,000 shrubs.
According to the developers, the construction works will start this fall and at the end of 2016 will inaugurated 33,000 sqm of office spaces.
The Iulius company group is the largest developer and operator of shopping malls in Romania, with over two decades’ experience in the modern retail. The company portfolio includes over 250,000 sqm m leasable area: the Palas Iasi multifunctional urban ensemble – the first “lifestyle center” in the country – and four shopping malls functioning under the Iulius brand (in Ia?i, Timi?oara, Cluj and Suceava).
In the office segment, the company has developed Class A offices of more than 58,000 square meters nationwide and another 15,000 sqm are under construction.