Former Oil Terminal platform in Constanța turned into an urban center under EUR 800 mln plan

Developer Iulius Real Estate plans to redevelop the former Oil Terminal platform in Constanțan into a modern urban center under a EUR 800 million investment project. The site will be fully decontaminated and reintegrated into the city, creating a mixed-use development, Profit.ro reported.

In 2023, state-owned Oil Terminal, the operator of the Constanța port oil terminal, signed a partnership with Iulius Real Estate, controlled by businessman Iulian Dascălu, to develop a 38-hectare plot on the North Platform of the terminal.

The project includes an expansion of the Palas Iași mixed-use complex, increasing the retail area to 80,000 sqm of rentable space.

The new development will feature a diverse mix of functions, including offices, retail, entertainment, education, culture, a retail park, a botanical garden, public facilities, an aqua park, cafés, restaurants, and a fresh market.

This large-scale investment is expected to revitalize the area, transforming a former industrial site into a vibrant urban destination.

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