Iulius Town Timisoara, developed by the joint venture of Atterbury Europe and dominant Romanian real estate name Iulius, will open on 30 August 2019 to become western Romania’s first mixed-use development and the largest real estate investment in the region.
Atterbury Europe is a real estate investment company that co-invests with local partners who are leaders in their jurisdictions. Besides Romania, Atterbury Europe is also invested in Serbia and Cyprus. It grew out of leading SA property developer and investor Atterbury, which this year celebrates 25 years of developing, investing and managing quality properties and building long-term relationships.
Henk Deist, CEO of Atterbury Europe, notes, “In June 2017, we entered into a 50/50 joint venture with Iulius to accelerate the rapid development pace of Iulius Town Timisoara, among other projects. Our partnership with Iulius is delivering powerful results as can be seen in the infinitely impressive first phase of the mixed-use retail, entertainment and office development.”
The significant multifaceted precinct has created a city within downtown Timisoara urban regeneration project area, built around the existing 71,000sqm Iulius Mall. It is part of Iulius Town’s immense 120,000sqm of retail premises, which includes 450 shops, cafés and restaurants as well as a 12-auditorium cinema including VIP cinema and dining concept.
“Iulius Town is Romania’s biggest retail area outside of Bucharest. It also has the country’s biggest fitness centre, complete with a semi-Olympic swimming pool and playground. Soon, it will boast Romania’s tallest building – 155 metres and 27 floors high. And, these are only a few of the highlights that make Iulius Town so appealing in its region. We couldn’t be more pleased with the development, which is built on the knowledge and experience we have gained over 25 years and the local market wisdom and insight of our esteemed partner Iulius,” says Atterbury Group CEO Louis van der Watt.
The new high-rise icon on the Timisoara skyline will be the fourth building in the United Business Centre regional commercial hub. The first three are already home to multinational IT and automotive firms. Together, the quartet of buildings offer 100,000sqm of A-grade offices catering to 13,000 employees.
The first phase of Iulius Town also includes an ultramodern conference centre as well as a 3,000sqm medical hub. Added to this, the local municipality has donated the investment necessary for a dedicated traffic underpass that cuts across the complex to provide a smart solution for road traffic.
At the centre of all of this is an oasis of peace and relaxation created by Iulius Town’s anchor — its park. Built atop an underground parking lot, it features a lake, double-decker carousel, playground, skating rink, and several event squares. All this is set in beautiful landscaping that uses more than 1,400 trees and 20,000 shrubs and creates yet another unique attraction for the region.