The four Iulius Mall-branded shopping centers, located in the cities of Timisoara, Cluj, Suceava and Iasi, brought Dascalu revenues of EUR33.99 million, up 5.8% against the first nine months of 2011, when revenues amounted to EUR32.1 million.
The Palas complex in Iasi, which opened at the end of May, brought EUR4.21 million in revenues from the office spaces, while the Palas Mall generated revenues of EUR4.21 million in rent in its first four months of operating (May 31- September 30), i.e. an average of EUR1.05 million per month.
If rent stays the same, the mall within the Palas complex could bring its owner annual revenues of over EUR12 million, more than the expectations of the Iasi-based businessman. At the time of the mall’s opening, Dascalu predicted a turnover of EUR8.9 million for 2013.
The best projects
Before the opening of Palas Iasi, the malls that brought Iulian Dascalu the biggest revenues were Iulius Mall in Timisoara and Cluj, which last year had a turnover of EUR15.7 million (Timisoara) and EUR13.8 million (Cluj), according to Finance Ministry data.
The Suceava-based project had a turnover of EUR6.5 million in 2011, while Iulius Mall had EUR5.7 million, so the cumulated turnover of the four projects stood at EUR41.7 million in 2011.
For the first nine months of this year, Dascalu has not provided separate data for each mall. At the beginning of the year, Dascalu estimated that the Iulius Mall network would generate cumulated revenues of around EUR44.2 million in 2012, up 6% on last year, and the nine-month results are in line with this forecast.
(English version by Daniela Stoican)