50m-euro development in Iasi

Iulius Group, which owns a mall in Iasi and seven more stores throughout the country intends to invest nearly 50 million euros in a project that will see the central area of the Iasi city rehabilitated and rearranged. A number of shopping galleries, residential and office space, a multipurpose park and car parks both underground and at the ground level will be built between Palatul Culturii and Sala Polivalenta. The current public swimming pool will disappear yet the outdoor theatre and skating rink will be modernised. All these would be part of an international touristic circuit that should bring out the historic buildings in Iasi. “We’re still working on the financing plan. Money is not a problem, though. The project is largely dependent on the outcome of the solution contest for the architecture of this complex,” stated Emilian Gabriel Grosu, an Iulius Group director. ZF