“We are in the permit securing stage for the Cluj-Napoca project and expect to get the zoning permit in a few months. We want to start taking down buildings on the site this year, to clean it up and prepare the land to begin construction next year,” said Raluca Munteanu, Iulius development director.
“The development phase will last about three years from the start of construction.”
Iulius Group owner Iulian Dascalu holds the majority stake in abrasives maker Carbochim Cluj-Napoca (CBC.RO), which it bought to develop a mixed-use project on its site, keeping the production component though. On the site, Iulius plans to develop a mixed-use project with residential and retail space, a cultural center and a park.
“The site does not allow for office space, like in Iasi, so we won’t have any.”
The complex will be developed in partnership with South Africa’s Atterbury Europe, the co-owner in Iulius malls and the mixed-use Iulius Town in Timisoara. The builder will be Build Corp, which has worked on all the other projects of the group so far. The design will be handled by international architecture firms.
The group relocated the plant to the industrial area of the city where it continues to operate, Raluca Munteanu added.
(English version by Loredana Fratila-Cristescu)