The developer Iulius Group, owned by the businessman Iulian Dascălu, has invested over 1 billion euros in the urban regeneration projects he has developed in the last 20 years in Iaşi, Timişoara, Cluj-Napoca and Suceava. Of this amount, 750 million euros went only to the two joint projects Palas Iasi and Iulius Town Timisoara. In the parks in Palas Iaşi, Iulius Town Timişoara and Iulius Mall Cluj, the developer has invested approximately 15 million euros. 73 million euros were invested in the underground car park in the Palas complex and 40 million euros for another in Iulius Town. The company also invested 13 million euros for an underground passage in Iulius Town Timişoara.
The Palas project is now undergoing an expansion process, which involves the delivery of 60,000 square meters of office space over the next five years. Thus, Palas will reach an area of over 135,000 sq m of class A office space. The investment is over 120 million euros and will be completed in 2022.
The Iulius Group also plans to build a large real estate project in the Romexpo area of the Capital, an investment of close to 3 billion euros. Since 2017, Iulian Dascălu partner for the Iulius Mall network and the Iulius Town project with the Atterbury Europe fund.
