A PROJECT FOR ROMANIA – THE CHAMBER OF COMMERCE AND INDUSTRY AND THE IULIUS COMPANY ARE PROPOSING THE LARGEST MIXED-USE DEVELOPMENT IN EUROPE, AN INVESTMENT UPWARD OF 2.87 BILLION EUROS
Publicat pe 02/06/2020
Bucharest, June 1st, 2020: The Romanian Chamber of Commerce and Industry and the IULIUS company are proposing a vast development project for the country, a representative one on the international level. Based on a unique mixed – use concept that combines artistic, cultural and social attractions with options for entrepreneurial support, the project involves the turning of the Romexpo Exhibition Center into a financial catalyst that renders major benefits for the community.
*revival and integration of Romexpo within the international circuit * 2.87 billion Euros phased investment * museums and multi-use event hall * a new park and green urban connections * solutions for traffic decongestion * the largest business district * over 30,000 new jobs * 12,000 parking spaces * retail and lifestyle center * facilities for local entrepreneurs
Romexpo will become the only exhibition center in Europe to be fully integrated in a mixed-use project, adding to the potential for sustainable and durable evolution of the Capital. “Our constant actions are focused towards strengthening and expansion of Romexpo’s activity, that are underlying for this vast investment. We are aiming at including Romexpo into the international circuit, and we are trustful that the ancillary functions will be able to not only place us on the map of the European hot spots in the field, but also to revive Bucharest, from a social, cultural and financial perspective. A project of such significance requires the cooperation and involvement of the public and private sectors, as well as support from the authorities and the community.”, stated Mihai Daraban, president of the Romanian Chamber of Commerce and Industry.
The investment is estimated for a total value upward of 2.87 billion Euros and will be made in phases. “The proposed project represents the materialization of a new development vision for the entire country, one that will represent us beyond borders, and bring us closer to Europe. It is an action that exceeds anything we have built so far in terms of urban revival, and we are certain that it will become an international landmark. This development is about community, Romanian symbols and local potential.”, stated Iulian Dascălu, the president of the IULIUS company.
Genuine Romanian cultural identity
The concept of the project gravitates around a dominant cultural component, a tribute paid to the significant local values. It is the place that will host the first Art Museum in Romania dedicated exclusively to the sculptor Constantin Brâncuși, which will become a national symbol, also bearing an international resonance. Moreover, the central pavilion will be reconfigured into the “George Enescu” Multi-functional Hall, offering the Capital an artistic space per the international standards, which would encourage the potential of the contemporary cultural sector, and that, by the hosted events, would become an attraction point for the entertainment audience, from abroad included.
The project integrates the Romexpo exhibition pavilions which it reconfigures and upgrades into a large Conference and Congress Center adapted to the needs of a European capital. Highlighted by the cultural, social and financial functions developed around it, and which provide the required infrastructure for the organization of large events, this center will be a European destination per se.
A new park, solutions for traffic decongestion, urban connectivity
An emblem for the mixed-use projects developed so far by IULIUS, the park will represent here too, an anchor for the urban life of the Capital. The Romexpo Exhibition Center will open to the community by means of successive public attractions: a central park, sodded gardens, mature trees and luxuriant vegetation, walking alleys, an esplanade and plazas. The new park, which will cover 30% of the project area, will render a direct connection to the Regele Mihai I al României Park, and a green connection from Charles de Gaulle Square up to the heart of the project.
The development implies large investments into new solutions for the modernization of the vehicular and pedestrian infrastructure, as well as the increase of urban connectivity. The traffic decongestion project is developed in collaboration with one of the top specialized companies in Europe and includes the creation of new vehicular roads and enlargement of certain vehicular traffic lanes, as well as bicycle lanes and facilities that add to the urban mobility. Moreover, the largest parking lot in Romania will also be developed, that will include more than 12,000 underground and above-grade parking spaces.
30,000 + jobs, a European lifestyle center
The urban revival proposal also includes the strongest business pole in the country, built in line with the “green building” principles, that will contribute to the strengthening of the investment attractiveness and economic sustainability. The office component will concentrate the main multinational companies in the tech sector and more, and will generate more than 30,000 new jobs, an infusion of the human capital that allows young talents to be retained. Furthermore, other 2,000 jobs are estimated for the construction period.
In symbiosis with the social and cultural attractions, the retail complex, that supplements the lifestyle center concept, will also be present here. Premium brands, service areas, the latest entertainment and leisure concepts will be part of the offer presented by the most impressive mixed-use project in Europe. The project includes the largest space dedicated to local manufacturers and retailers in a fresh market concept developed for the first time in Romania. Moreover, there will be a center for Romanian entrepreneurship, unique in the country, coworking facilities capable of generating opportunities for the local business sector.
An unprecedented element is also the Museum of Monetary History, an initiative for the first time in Romania, as well as the largest Oceanarium in the country, a genuine aquatic park that will represent a new touristic highlight.
A 5-stars hotel, as a supplementary function to a large-scale exhibition center, will also be constructed in line with the exigences of a European capital.
ROMEXPO S.A is the largest organizer of fairs and exhibitions in Romania, with an experience of almost half a century, that creates and writes the trends on the local profile market, by means of strategic vectors such as upgrading, diversification and specialization. Romexpo organizes more than 40 fairs, exhibition and commercial showrooms on an annual basis, gathering international participants, as these are mostly specialized shows that represent significant factors of the acceleration of the complex processes of restructuring the national economy, development and modernization of the infrastructure, re-engineering of the industries, and supporting the automation of the economic and social activities, etc.
ROMEXPO S.A. is also recognized internationally, as it is a full member of the Global Association of the Exhibition Industry – UFI, of the Central European Fair Alliance – CEFA, of the International Union for Exhibitions Statistics Reporting – CENTREX, and of the European Federation of Agricultural Exhibitions and Show Organizers – EURASCO.
Established in 1991, IULIUS is the only developer and operator of mixed-use projects in Romania, with an operational portfolio comprising more than 300,000 sqm of retail premises and 253,000 sqm of office spaces, of which 107,000 sqm under development.
The company created the IULIUS MALL nationwide network comprising four regional shopping malls (in Iaşi, Timişoara, Cluj-Napoca, and Suceava) and the Palas Iaşi and Iulius Town Timișoara mixed-use projects. With an annual footfall upwards of 68 million visitors, the projects of the company are regional market leaders. In the office segment, IULIUS is one of the top developers and operators of office spaces, having 12 class-A buildings integrated in mixed-use projects, built in line with LEED standards, under the United Business Center brand.
Last year, IULIUS and Atterbury Europe opened Iulius Town, a development that entailed integrating Iulius Mall Timişoara in an ample urban regeneration project. This is the largest investment in the west of Romania, adding up to a total of € 442 million.