The IULIUS Company closes 2017 with two class A office buildings completed in Timisoara in a single year. Here, the company continues the development of the Openville mixed-use ensemble, its first phase following to be completed and opened in Q4/2018.
Early this month, the IULIUS Company completed a new office building spanning on over 13,000 sqm in the vicinity of Iulius Mall Timisoara. United Business Center 1 (UBC 1) is the second building opened in Timisoara this year, after UBC 2 (18,000 sqm) opened in January. Following this latest achievement, the total office area delivered on the local market over a single year now adds up to 31,000 sqm.
The newly opened building comprises 12 floors and the companies that leased premises in UBC 1 include Atos, an international provider of IT services, and Intel, worldwide tech manufacturer.
Openville Timisoara will be the business hub of the western part of Romania. Works are currently underway in the project for the third office building – UBC 3 (19,000 sqm), which will be completed in 2018. Moreover, the construction works for UBC 0, the tallest building in Romania (155 meters and 27 floors) are scheduled to commence early next year.
The largest business, retail and entertainment hub in the west of Romania to open in Q4/2018
Openville Timisoara will be opened in Q4/2018, upon completion of the first phase of development that will include 100,000 sqm of class A offices, 47,000 sqm of additional retail premises, a park spanning on 55,000 sqm, a traffic underpass and more than 1,500 new parking spaces fitted in a multilevel parking facility and in an underground parking lot.
Upon completion of the first phase, the office component will include a 50,000 sqm area in operation (in the UBC 1, UBC 2 and UBC 3 buildings) and another 50,000 sqm pending construction (in the UBC 0 building).
47,000 sqm additional retail area and a park spanning on more than 55,000 sqm
The Openville project will gravitate around Iulius Mall Timisoara, to which an additional 47,000 sqm area will be added over the first development phase. The works designed to expand the retail area up to a leasable area of 118,000 sqm have started this month.
The citizens of Timisoara will discover numerous leisure options, a new mix of brands, more than 100 new stores, restaurants and themed cafés, a new concept of cinema and the largest playground for children. To this end, the company signed contracts for new anchors and locations, and the retailers will be announced over the upcoming period.
The park spanning on 55,000 sqm will be a major anchor and the most highly anticipated novelty of the project. The green area in downtown Timişoara will be fitted starting spring 2018 and it will include a lake, event plazas, a carousel for children, as well as cafés and restaurants that are ideal for meeting up with friends and unwinding after long days at the office.
The first phase also translates into the creation of 1,500 new parking spaces in a multilevel parking facility (currently pending completion) and in an underground parking facility (the works are due to commence at the beginning of 2018). These will add to the existing parking spaces in Iulius Mall. Per total, the entire area will provide clients with 4,068 parking spaces.