Romanian developer Iulius will invest €40 million to expand the Iulius Mall Suceava project with 14,000 sqm in a bid to add new retailers as well as leisure and food operators.
The extension will be delivered as a retail park with direct access to the mall. Another 10,000 sqm of existing spaces will be reconfigured. Following the expansion and overhaul works, the mall will have a leasable area of more than 65,000 sqm and Iulius’ total investment in the project will climb to €110 million.
The new development is the permitting phase, and the completion of the construction is expected towards the end of 2023.
“We continue to be close to the people of the region and answer with new opportunities to the expectations of a rising city," said Eduard Marcu, Shopping Center Manager Iulius Mall Suceava.
As part of the expansion program, Iulius will add green spaces and pedestrian areas spanning 10,000 sqm as well as 800 new parking spaces.
Iulius Mall Suceava opened in 2008 with a total leasable area of 51,500 sqm and records around 10 million visitors yearly. Since 2017, Iulius and Atterbury Europe jointly own 50% stakes in the project.
