Mihai Cioltea has been appointed general manager of the Openville mixed-use project that Iulius Group is currently developing in the vicinity of Iulius Mall Timisoara, according to a press release by the company.
Cioltea will manage the entire development process for the Openville urban ensemble. Prior to his appointment in this position, he worked for approximately eight years as the expansion manager of the Inditex group for countries such as Romania, Bulgaria, Russia and Kazakhstan.
Openville Timisoara will comprise multiple functions such as class A office, retail, park and entertainment and is estimated to require a EUR 220 million investment by Iulius Group. The complex is the second mixed-use project the company is developing after the Palas Iasi urban ensemble.
The construction project for Openville was started last September with the construction works for the first office building with a gross area of 18,000 sqm, while the gross built area for the whole complex will reach 594,000 sqm.
The United Business Center 2 building will be completed this autumn and will accommodate tenants including Ness Software Engineering Services and the Regina Maria polyclinic. The office component developed under the United Business Center brand will constitute the largest part of this project, comprising seven buildings with a gross leasable area of over 131,000 sqm and including the tallest building in Romania (155 meters and 27 floors).
In terms of retail, Openville will bring a new mix of brands, over 100 stores, restaurants and themed cafes, 15 movie theaters, a fresh market area, four event halls, the largest playground and other leisure options. In addition to this, the citizens of Timisoara will also benefit from the largest suspended park in Romania, a green area with spanning on over 55,000 sqm.
The first stage of development will be completed in the last quarter of 2017 and will comprise 80,000 sqm of class A office spaces, the retail area and park. The second stage of development will comprise the development of office spaces up to a gross leasable area of 131,000 sqm, depending on the market demands.