Romanian real estate developer Iulius says it will invest around €35 million in the infrastructure and urban mobility features for its Palas Campus project in Iași. The mixed-use project will feature 54,000 sqm of office spaces targeting tech companies and 6,000 sqm of retail spaces.
The company will invest in underground parking facilities and will build a new street and extend other existing road facilities in the area. Bike lines will also be designed inside the campus.
The new project will create some 5,000 new jobs, according to company representatives. Iulius recently got a €72 million loan from the IFC, part of the World Bank Group, to invest in sustainable technologies. This was the first green loan granted to a Romanian developer.
Palas Campus will be delivered in 2022 as part of an €120 million investment. The company already operates in Iași a shopping mall and a portfolio of offices as part of Palas Iași complex.
Iulius has an operational portfolio of 300,000 sqm of retail spaces and 152,000 sqm of office spaces in regional cities.
