“We are considering various scenarios, as the pandemic progress remains a dynamic factor, with a real, powerful and hard to anticipate impact on the business sector. Investment-wise, we plan to keep developing our projects at the same pace, answering a concrete demand from the market. We will continue our office space investments in Iasi and Timisoara (Palas Campus and UBC 0) and in the already announced retail projects,” says Sebastian Mihu, head of asset management of Iulius.
Palas Iasi is now undergoing expansion, which entails delivery of 60,000 square meters of office space in the next five years. Adding the already existing space, the total stock will reach more than 135,000 square meters of Class A office space. Iulius is also working on completing construction of UBC 0, set to become the tallest office building in Romania.
(English version by Loredana Fratila-Cristescu)