IULIUS and Microsoft Romania signed a lease agreement for office premises in the Openville Timisoara project, the largest mixed-use development in the west of Romania.
Microsoft Romania leased 1,200 sqm in United Business Center 1 (UBC 1), the second of the total seven office buildings to be completed in the mixed project. UBC 1 is located in the immediate vicinity of Iulius Mall Timisoara, comprises 12 floors and has a 13,000 sqm leasable area.
About Openville Timisoara
Openville is currently under construction and set to become the main business, shopping and leisure destination in the west of Romania. The first phase of development of the project that integrates Iulius Mall Timisoara will include: 47,000 sqm of additional premises, 50,000 sqm of office premise in operation (UBC 1, UBC 2, and UBC 3) and another 52,000 sqm under construction (UBC 0), a park, a traffic underpass and approximately 4,07o parking places.
After the two office buildings completed in 2017, works are underway in Openville for two other buildings. UBC 3 has a leasable area of 19,000 sqm and is scheduled for completion this year. UBC 0 will comprise 52,000 sqm of office premises and is set to be the tallest office building in Romania (155 meters, 27 floors). The construction works started this April and is scheduled for completion in the last quarter of 2019. Concurrently, works are underway for the new retail spaces, a new underground parking lot and the traffic underpass.
The Openville mixed-use project is developed by IULIUS and Atterbury Europe, adding up to an estimated investment upwards of EUR 220 million.