Iulius Group puts EUR 60 mln in Suceava regional mall

Iulius Mall Suceava is the first regional mall in northern Romania, and the developer expects it to get a steady flow of visitors from neighbouring towns such as Targu-Neamt, Falticeni, Botosani, Campulung Moldovenesc, Vatra Dornei and Dorohoi. The Suceava investment is the company's fourth venture in Romania, after the development of commercial centers in Iasi, Timisoara and Cluj.
“Iulius Mall Suceava comes after eight years of commercial center development expertise in Romania,” said Iulian Dascalu, the founder and president of Iulius Group.
The mall in Suceava delivers 70,000 sqm of built area, comprising 50,000 sqm of rentable spaces, an entertainment area including a football field and the first sports bar in Suceava. Visitors can park in a 1,200-space parking lot, according to the company. The mall's shopping gallery, comprising 150 shops, will host brands such as Sephora, Bam Boo, Domo, Steilmann, Junker, Intersport, Reebok, Nike, Kenvelo, Motor, Nichi and Terranova, besides anchors like Auchan, Bricostore and Cinema City.
For 2008, Dascalu has estimated a total local investment of EUR 420 million, including the EUR 60 million used for the expansion of Iulius Mall Timisoara, a project estimated to be completed in 2009. Another expansion was announced for the mall in Iasi, where the developer wants to increase the surface area by 4,000 sqm, following an investment of EUR 7 million.
Magda Purice