Businessman Iulian Dascalu, who controls Iulius Management Center, a company specialized in developing mixed-use real estate projects, will invest in a real estate project in Timisoara similar to the one developed in Iasi (Palas Iasi). This project will include office and retail spaces, as well as an entertainment area.
The new development will be named Openville and will be built around the Iulius Mall shopping center in Timisoara, which is also owned by Dascalu. The investment in this project will amount to approximately 220 million euros.
Openville will have a total built area of 594,000 square meters, of which the seven office buildings (one of which will exceed the height of Sky Tower, the tallest office building in Romania) will total about 131,000 square meters. Construction will begin this autumn, with developers hoping to complete the first 33,000 square meters of office space by the end of 2016.
Source: Imobiliare.Net
Frequently Asked Questions
What is the Openville project?
Openville is a mixed-use real estate development in Timisoara by Iulian Dascalu, featuring office, retail, and entertainment spaces.
How much is being invested in Openville?
The total investment for the Openville project is approximately 220 million euros.
When will the first office spaces be completed?
Developers aim to complete the first 33,000 square meters of office space by the end of 2016.