Peek & Cloppenburg is set to open a store in the Iulius Town (formerly known as Openville) development in Timişoara. The project, which is being developed by Iulius and Atterbury Europe, is the largest real estate investment in the region, with investment costs of EUR 220m. The development of the first phase is currently being completed and will include the country’s largest retail area outside Bucharest with around 120,000sq m.
The store will have a retail area of 3,600 sqm over two levels in a new expansion to the Iulius Mall. “We see great potential in this market for the future and therefore it was natural to intensify our activities here,” says Paul Pörtner, the director of retail management at Peek & Cloppenburg. “We are very pleased that we have developed successfully since our start in Romania and look forward to opening our new store in Iulius Town Timişoara,” he adds.
