Romanian entrepreneur Iulian Dascalu’s real estate group has started developing the sixth office building of the Palas Iasi complex, in Iasi, eastern Romania.

The Palas project has been the most expensive real estate investment carried out outside Bucharest until now. The new four-story building, which will cover 9,000 sqm, will be completed at the beginning of next year and will increase Palas Iasi’ total rentable office area to 62,000 sqm.

The complex already has four operating office buildings, with an area of 38,000 sqm, and another 15,000 sqm building, which is now under construction, according to Iulius Group.

Dascalu has another two office buildings in Cluj-Napoca, near the Iulius Mall shopping center. One of them covers 7,500 sqm, whereas the other one has 10,000 sqm.

The Romanian entrepreneur plans to start the construction of a new urban complex, around the Iulius Mall Timisoara shopping center. It will include retail area and seven office buildings, with a total area of over 131,000 sqm, among them the highest tower in the country.

editor@romania-insider.com

(photo source: palasiasi.ro)