Real estate developer Iulius and its partner, the investment fund Atterbury Europe, are investing EUR 40 mln in the 14,000-square-meter expansion of the Iulius Mall shopping center in Suceava. The project will reach a total investment of EUR 110 mln and over 65,000 square meters of retail space.

Iulius Group, founded by businessman Iulian Dascalu, and Atterbury Europe are equal partners in the project.

Currently, the expansion is in the process of obtaining the necessary permits, and the construction works are scheduled for the second part of this year. The works will be completed in 2023.

“Iulius Mall is a landmark for the community, and we will continue to keep it at the top of preferences by enhancing its role in the economic and social development of the city. We further on stay close to the region’s inhabitants and continue to reply with new opportunities to the expectations of an emerging city,” Eduard Marcu, Shopping Center Manager Iulius Mall Suceava, said.

Iulius Mall Suceava was opened in 2008, having an area of 51,500 sqm and offering a comprehensive mix of retail and entertainment: more than 200 stores, international and national brands, the largest Cinema City multiplex cinema in the northern part of the country, featuring eight auditoriums, food court, Auchan hypermarket, seasonal skating rink, multiple options for relaxation and fun, numerous services and offices of the public institutions.

The shopping and leisure venue attracts yearly approximately ten mln visitors, including from the neighboring counties and even from abroad. 

(Photo courtesy of the company)

andrei@romania-insider.com