In the near future, Timişoara will benefit from a retail development that is unique in Southeastern Europe by virtue of its concept and magnitude, namely the Openville project, the first mixed-use development in the west of Romania that is currently erected in the center of the city.
The Openville urban development will gravitate around Iulius Mall Timişoara, the largest shopping mall outside of Bucharest. The project will include in its proximity seven office buildings spanning on 130,000 sqm, a park spanning on more than 55,000 sqm, new entertainment options, four event halls, and more than 4,050 parking spaces. By the end of the expansion process, which shall be commenced by the IULIUS Company over the upcoming period, shall include a leasable area spanning on no less than 131,000 sqm, as well as 450 locations.
Owing to the synergy between its multiple uses, Openville will become a regional business hub and the main shopping and leisure destination in the west of Romania.
Park spanning on 55,000 sqm – anchor of the Openville Timişoara mixed-use project
The primary novelty of the retail component will lie in the numerous leisure options to be made available in Iulius Mall both indoors and particularly outdoors. A park spanning on more than 55,000 sqm will be the main anchor of the project, a green area created from scratch on the area located in front of the shopping mall.
The park will comprise a spectacular landscaping feature that will fit perfectly with the mix of office and retail premises. The park will include upwards of 1,000 mature trees, 20,000 shrubs, an artificial lake, event squares, promenades and special turf, as well as a carousel for children. The park will be an ideal destination for socializing, meeting with friends and unwinding after the time spent at the office, owing to the numerous cafés and restaurants to be fitted here.
New generation of retail, with a regional impact: 131,000 sqm and 450 stores
The retail segment of the Openville project will also be impressive in terms of its magnitude. The additional 60,000 sqm to be developed will translate into: 100 additional stores, a pedestrian shopping street, new brands, stores located in more generous spaces, more cinema auditoriums, restaurants and cafés with themed designs, playgrounds for children, as well as new services.
Owing to its uniqueness in terms of brands and concept, Openville will appeal to a heterogeneous public from the entire region and from across the borders. Openville will be the ideal venue in the heart of Timişoara for spending the day shopping, dining with friends, walking in the park with your family, relaxing on the terraces of the restaurants and cafés, and attending cultural events.
To this date, one office building (18,000 sqm) was opened in the project and is fully leased by companies in the IT and automotive industry, while the second office building (13,000 sqm) will be completed over the following period. Furthermore, a multilevel parking facility with 900 parking spaces will soon be completed; the parking facility will be directly connected to Iulius Mall via a pedestrian overcrossing. Concurrently, construction works are underway for the third office building (18,000 sqm), which will be completed next year.
The investment made in the Openville Timişoara mixed-use development is estimated at over € 220 million.