Romanian developer Iulius will start this month a remodelling of its mixed-use project Palas Iași, based on a concept by architecture firm Foster + Partners.
The project is estimated around €80M, raising the investment made by Iulius in downtown Iași upwards €520M. The revamping will be carried out in phases, so that Palas can continue to run its business as usual.
“We aim to ensure Palas remains relevant for future generations. To achieve this, we are initiating a reconfiguration process, drawing upon our accumulated knowledge and expertise with a singular focus: the world and its needs are evolving and so must we. While the complex is already successful, we are committed to further development. Through this new concept, we intend to continue supporting the growth of Iulius’ hometown,” says Raluca Munteanu, Development Manager at Iulius.
The complex will undergo a significant expansion, increasing its retail space to 80,000sq m. This growth will encompass the development of expanded and new flagship stores, alongside the introduction of first-to-region international retailers. Enhanced children’s playgrounds and diverse entertainment options will cater to families, while a variety of new food and beverage concepts will enrich the visitor experience.
