IULIUS starts the construction of Palas Campus, 120 million Euro urban regeneration and development project in Iasi

IULIUS company is kick-starting the construction works for Palas Campus in Iași, an investment of 120 million Euro. This will be one of the largest office buildings in Romania in terms of its total area, adding up to more than 60,000 sqm leasable area, and it will consolidate the city center as a destination that supports the evolution of local entrepreneurship and creative industries.

Palas Campus is the biggest investment launched in Iași in the current social and economic context, as well as the largest after the grand opening of Palas in 2012, the first mixed-use project in Romania, also made by IULIUS Company. “We want our projects to continue delivering added value to the community, both economically and socially. We are confident that, as evidenced in these 8 years since the grand opening of Palas project, this new urban regeneration development will continue to generate opportunities for the evolution of Iași and establish it as a competitive city. Our vision is to create more than just buildings, that is to create poles of urban attraction that include green areas and attractions for the community, while also providing a major contribution towards upgrading the city infrastructure,” said Iulian Dascălu, President of IULIUS Company.

The investment will be completed in 2022, generating 1,700-plus jobs during the construction phase and 5,000-plus jobs after the grand opening. Concurrently, the direct contributions towards the state budget during the works will add up to more than 1.3 million Euro via taxes, authorizations, approvals, etc., and the value of annual taxes once the project is operational is estimated upwards of 700,000 Euro.

Palas Campus is built in an untapped central area of Iași City, in the immediate vicinity of Palas Project (Sf. Andrei). With a built surface upwards of 86,000 sqm, the building will be spread out horizontally and will include six building blocks connected both at the ground floor level and on the first three floors. The building blocks are designed to stand at different heights up to maximum six floors, in line with the urban skyline and in compliance with the viewing angles. Furthermore, two underground levels will be allotted to a parking facility with a capacity of approximately 625 parking places.

The campus is designed as an integrated mixed-use project. In addition to the class A office spaces, it will include outdoor-type coworking spaces for the first time in the region, a new concept of food market, with restaurants, coffee shops and terraces, a medical hub, as well as a services area that will help promote local producers. The project is built in compliance with the principles directed by the highest sustainability standards applicable for green buildings and will benefit from the implementation of the most cutting-edge technologies to ensure enhanced levels of comfort and operating costs efficiency. The project will also accommodate six changing rooms fitted with showers for those who use alternative means of transportation. The indoor connectivity of the campus will be ensured by 22 elevators and pedestrian connection nodes designed as areas for relaxation purposes.