Romanian developer Iulius has obtained the urban zoning plan (PUZ) from the local council for a new urban regeneration project in Cluj-Napoca that will have a planned investment of more than €500 million.
The developer has already relocated the Carbochim factory into an area suited for industrial manufacture, while also investing €7 million to optimize and streamline its business without any disruptions. The former industrial platform covers around 14 hectares, yet the remaining business of the factory only used 30% of this area.
The new project will comprise the largest retail area in Romania (120,000 sqm), office, culture and new entertainment concepts, set to be anchored by an urban garden with access to the Someș River.
“The Local Council’s vote confirms that the project is aligned with the vision of the Municipality on the development of the city and the overall region,” says Iulian Dascălu, President of Iulius.
After securing the PUZ, the developer is working on obtaining the building permit for the project.
The investment in the Cluj-based project will be made jointly by Iulius and Atterbury Europe.
