Local developer Iulius group started the work on expanding its mall in Timisoara, Western Romania, which will be integrated in the group’s EUR 220 million Openville mixed-use project.
The developer will add 47,000 sqm of new retail space to the Iulius Mall in Timisoara, which will thus become one of the biggest shopping centers in Romania.
“The additional retail areas will be fitted both in an expansion wing of Iulius Mall Timisoara, and on the ground floor of the office buildings and in the park area. Thus, upon completion of the first phase of development, Openville will include an 118,000 sqm gross leasable retail area,” according to Iulius group representatives.
The expansion will bring more than 100 new stores, themed restaurants and cafés, a new cinema concept and a large playground for children.
“A major anchor and the most highly anticipated novelty component is the park spanning on 55,000 sqm. The green area in the downtown of Timisoara will be the largest suspended park in Romania, and will be fitted over the underground parking lot that is scheduled for development this spring on the current area in front of Iulius Mall,” the company announced.
Besides the mall expansion, the first phase of the Openville project in Timisoara includes 100,000 sqm of office space and 1,500 new parking spaces. In a later stage, the project will get another 85,000 sqm of offices and 25,000 sqm of retail spaces, based on market demand.
The Openville project is developed by Iulius group, controlled by local investor Iulian Dascalu, and Atterbury Europe.