The project is located in Sf. Lazar street behind Palas Iasi compound, will have seven floors and two underground parking levels and will drive the businessman’s office portfolio to 60,000 square meters.
“Investments will lead to the creation of around 2,000 jobs. The new building will be part of United Business Center, the office component of Palas compound,” Iulius Group representatives told ZF.
United Business Center currently includes four office buildings with a rentable area of 28,000 square meters and hosts tenants such as Amazon, EBS, Raiffeisen or Volksbank. Dascalu also owns two office buildings in Cluj, one of them delivered this year, having Endava and Genpact as tenants.
With a portfolio of five malls with a rentable area of above 230,000 square meters, Dascalu is the biggest local developer of shopping centers, with his entire real estate portfolio being valued at nearly EUR700 million.
For 2014, rental income is put at around EUR66 million, according to the latest information available.
(English version by Catalina Apostoiu)