Developer Iulius Real Estate plans to redevelop the former Oil Terminal platform in Constanțan into a modern urban center under a EUR 800 million investment project. The site will be fully decontaminated and reintegrated into the city, creating a mixed-use development, Profit.ro reported.

In 2023, state-owned Oil Terminal, the operator of the Constanța port oil terminal, signed a partnership with Iulius Real Estate, controlled by businessman Iulian Dascălu, to develop a 38-hectare plot on the North Platform of the terminal.

The project includes an expansion of the Palas Iași mixed-use complex, increasing the retail area to 80,000 sqm of rentable space.

The new development will feature a diverse mix of functions, including offices, retail, entertainment, education, culture, a retail park, a botanical garden, public facilities, an aqua park, cafés, restaurants, and a fresh market.

This large-scale investment is expected to revitalize the area, transforming a former industrial site into a vibrant urban destination.

iulian@romania-insider.com

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