Developer Iulius opens its first convenience retail project in Romania after EUR 12 mln investment
Iulius, a developer specialized in complex urban regeneration projects, diversified its portfolio by opening its first convenience retail project in Romania - Family Market Miroslava in Iași county. The investment amounted to approximately EUR 12 million and created 140 new jobs.
Family Market was created in partnership with the Miroslava Town Hall and is located in the center of the commune. It has a leasable area of around 7,000 sqm and proposes a diverse mix of services, mostly by national and local entrepreneurs and producers. Its anchor is retailer Auchan Romania, which opened a new supermarket format of more than 2,000 sqm.
“Over the last 20 years, we focused on creating major urban regeneration projects in larger Romanian cities. Today we are excited to unveil to the public the new concept by Iulius, who will be a partner for growing communities,” said Radu Pârlea, the manager of Family Market.
“Miroslava commune has experienced a solid development in recent years owing to the local administration and the investments drawn to this area, thus creating a strong community that now needs basic services located close to home. The mix of stores and facilities we opened today was customized to match the residents’ expectations, make their lives easier and more beautiful, offer them more quality time with their loved ones, and reduce the number of trips to the city. Family Market is also a platform that supports and promotes local entrepreneurs and producers, who form the majority in this project and will offer high-quality local products,” he added.
The first Sinsay store in Iași was opened in Family Market Miroslava, but its offer also includes Pepco, Agroland, Meat Concept Store, La Sibieni and La Bottega grocery stores, Dolciano coffee shop, Agroland, Inmedio, CEC Bank, and Let’s Play - a playground with games for children. On the upper floor, visitors can find the Verdi Hall, a space that can accommodate private parties with up to 220 guests, as well as corporate events for up to 300 attendants.
There is also a new park, 137 parking places, bike parking spaces, and two charging stations for electric vehicles.
Iulius and Auchan Romania will continue their partnership in Family Market Bucium, a project currently under construction. This one will have a leasable area of approximately 5,500 square meters and is set for completion this autumn.
The total investment in the two Family Market projects adds up to more than EUR 23 million. The financing partner of Iulius for these projects is CEC Bank.
(Photo source: Iulius)