The developer started work last year on Palas Campus, a EUR120 million project. The project will have 54,000 sqm of premium office space and 6,000 sqm of retail space and is due for completion in 2022.
The project benefits from a EUR72 million green loan from International Finance Corporation (IFC), a member of the World Bank Group.
“Over 5,000 new jobs will be created here and the new project will also impact local infrastructure and urban mobility through investments of EUR35 million,” group representatives said.
The new complex will obtain IFC’s Excellence in Design for Greater Efficiencies (EDGE) certification for buildings. EDGE buildings use at least 20% less energy and water than standard buildings, helping to mitigate climate change.
The building will be one of the country’s largest office complexes in the country. Designed as an extension of Palas Iasi, which was inaugurated in 2012, the new project will strengthen the regional business center hub in the city center, which will reach 130,000 sqm.