Palas Campus is the latest office investment of urban regeneration due to be inaugurated by Iulius Group in the first quarter of 2023 following an investment of over EUR120 million.
The HELLA center will span on 1,300 sqm and will accommodate a team of approximately 100 engineers. The specialists in the new location will focus on complex products and innovative technologies that develop autonomous (self-driving) vehicles.
“We will be working with advanced technologies on innovative radar product designs that help develop the autonomous driving megatrend (…),” stated Marius Adam, the newly appointed Manager of the new HELLA Technical Center Iasi.
Located in the vicinity of the Palas Iasi mixed-use complex, Palas Campus is set to become the largest office building in Romania in terms of surface area, with a leasable area of 60,000 sqm. The office complex is fully leased by major international companies in the IT&C, automotive, banking, and health&pharma industry, making it a competitive business hub at country level.
“The presence of HELLA in our office complex in downtown Iasi, along with the other major companies, consolidates a technological hub set to have nationwide relevance, adding value to the city and boosting its attractiveness,” said Ionut Pavel, Office Buildings Manager Palas Iasi & Palas Campus.
Hella entered the Romanian market in 2005 and currently has five research and development centers, an administrative center and three production units located in the cities of Timisoara, Arad, Lugoj, Craiova, Iasi and Oradea, with some 5,000 employees.
An automotive industry and spare parts supplier for more than 100 years now, HELLA develops and produces electronic components and lighting systems for major car manufacturers.