Iulius Company, one of the biggest real estate developers in Romania, controlled by local investor Iulian Dascalu, announced the launching of a new retail concept in Romania: Family Market. The first project of this type is proposed for Miroslava commune in Iasi county, in eastern Romania, and entails an investment of over EUR 6 million.

Family Market is a small-scale format that integrates a supermarket and a customized mix of services, as well as landscaped parks and leisure areas. 

The first Family Market is currently in the approval and authorization phase, and the works will start this year. 

“Family Market is a premiere in the portfolio of the company, which has developed major projects with a deciding role in urban revitalization and the development of cities. We want to mark the 20th anniversary since the grand opening of our first shopping mall by getting even closer to communities and providing them with investments that cater to their interests and expectations,” said Iulian Dascalu, president of Iulius Company.

The Family Market to be opened in the Miroslava commune, which is part of the metropolitan area of the city of Iasi, will have a leasable retail area of approximately 6,200 sqm. The project will also include a park, a hall for events, and parking spaces.

“To make sure that the project and the components it integrates address particular requirements, we created the www.family-market.ro platform, where residents can submit their suggestions in terms of services they wish to have convenient access to near their homes. Coffee shop, drugstores, flower shops, beauty salons, cleaners, bakeries, and locations for showcasing small producers are only a part of the elements to be brought to the community,” the company said in the press release. 

Incorporated in 1991, Iulius is a developer and operator of mixed-use projects in Romania, with an operational portfolio comprising more than 300,000 sqm of retail spaces and 146,200 sqm of office spaces. 

In 2000, the company created the Iulius Mall nationwide network, comprising four regional shopping malls (in Iasi, Timisoara, Cluj-Napoca, and Suceava), as well as the Palas Iasi and Iulius Town Timisoara mixed-use projects. In the office segment, Iulius is one of the largest developers and operators of office spaces, having 12 class A office buildings integrated into mixed-use projects and built by LEED standards, operating under the United Business Center brand.

newsroom@romania-insider.com

(Photo source: the company)