Construction works are set to begin on Family Market Tomești, a new convenience retail project developed by IULIUS Company, following the issuance of the building permit, the developer announced. The project represents a EUR 28 million investment not far from the city of Iași.

The development will deliver more than 13,000 sqm of leasable retail space, alongside over 10,000 sqm of green areas, leisure facilities, and outdoor activity zones. It will also include around 450 parking spaces, as well as new pedestrian links and access points as part of wider infrastructure upgrades in the area.

The estimated completion term for this project is the last quarter of 2026.

The project’s tenant mix will be anchored by a Kaufland hypermarket and will also include a Stay Fit Gym sports area and a Pepco store. Additional tenants confirmed for the project include Dr. Max, Agroland, Mado, and a range of local businesses such as Happy & Hop, Kosarom Fine Store, Teo’s Café, Flower Boutique, Atipic salon, a Praxis medical testing laboratory, and an Xpress convenience store.

Plus, the development will feature landscaped green spaces with mature trees, lawns, and decorative plants, in line with other Family Market projects in the IULIUS portfolio.

According to the developer, the retail center is intended to serve a catchment area of around 55,000 people within a 10-minute drive and is also expected to attract visitors from the Republic of Moldova.

Two convenience retail projects have been developed under the Family Market concept in Iași County, both entailing a total investment upwards of EUR 24 million. The projects opened in 2022 include leasable retail areas spanning 5,400 sqm (Bucium) and 7,000 sqm (Miroslava).

As of 2023, the two Family Market projects in Bucium and Miroslava are operated on a 50-50 joint venture basis by IULIUS and Romanian-American investment group W&E Assets.

irina.marica@romania-insider.com

(Photo source: IULIUS)