Dascălu collects 41.2m euros from four malls

Businessman Iulian Dascălu, 41, owner of Iulius Mall shopping
centre chain, last year posted 41.2 million-euro revenues from
renting out the malls held in Cluj, Timișoara, Suceava and Iași, up
3% on the preceding year, after the completion of a 60 million-euro
investment in expanding the Timișoara project in November
2009.
Dascălu is the most prominent mall owner on the Romanian
market, with a portfolio of 175,000 square metres of retail space,
with the help of bank loans of over 200 million euros. He managed
to rent out space to multinationals such as Auchan, Inditex and
Cinema City, with the help of which he attracted 43.6 million
visitors last year to the projects he owns, 9% more than in the
previous year.
“2010 was a year of consolidation for Iulius malls on the
Romanian retail market. For 2011 we expect an upward trend, both in
terms of traffic and of sales, especially in the second half of the
year. These increases will also have to do with the opening of
H&M stores in Palas Iași, Iulius Mall Timișoara and Iulius Mall
Cluj,” Iulian Dascălu told ZF.