Tall & Urban News

The new Iulius Town Timisoara was developed by the joint venture of Atterbury Europe and Romanian real estate investor Iulius. Opening in August of this year, it is western Romania’s first mixed-use development and the largest real-estate investment in the region.

Henk Deist, CEO of Atterbury Europe, notes, “In June 2017, we entered into a 50/50 joint venture with Iulius to accelerate the rapid development pace of Iulius Town Timisoara, among other projects. Our partnership with Iulius is delivering powerful results, as can be seen in the infinitely impressive first phase of the mixed-use retail, entertainment and office development.”

“Iulius Town is Romania’s biggest retail area outside of Bucharest and is expected to eventually boast Romania’s tallest building—155 meter and 27 floors high. And, these are only a few of the highlights that make Iulius Town so appealing in its region. We couldn’t be more pleased with the development, which is built on the knowledge and experience we have gained over 25 years and the local market wisdom and insight of our esteemed partner Iulius,” says Atterbury Group CEO Louis van der Watt.

The new high-rise on the Timisoara skyline will be the fourth building in the United Business Centre regional commercial hub. The first three are already home to multinational IT and automotive firms. Together, the quartet of buildings offers 100,000 square meters of A-grade offices catering to 13,000 employees.

The first phase of Iulius Town also includes an ultramodern conference center, as well as a 3,000 square meter medical hub. Added to this, the local municipality has donated the investment necessary for a dedicated traffic underpass that cuts across the complex to provide a smart solution for road traffic.

At the center of all of this is an oasis of peace and relaxation created by Iulius Town’s anchor—its park. Built atop an underground parking lot, it features a lake, double-decker carousel, playground, skating rink, and several event squares. All this is set in artful landscaping that uses more than 1,400 trees and 20,000 shrubs, and creates yet another unique attraction for the region.

Besides Romania, Atterbury Europe is also invested in Serbia and Cyprus. It grew out of leading South African property developer and investor Atterbury, which this year celebrates 25 years of developing, investing and managing properties.

For more on this story go to South Africa Property Insider.