April 20 (SeeNews) - The International Finance Corporation (IFC) said on Tuesday that it is providing a 72 million euro ($86.8 million) loan to Palas Campus, a wholly-owned subsidiary of Romanian real estate developer Iulius Holding, to build a green technology complex in the northeastern city of Iasi.
The new 60,000 sq m complex will help Romania attract and retain foreign investors and businesses by providing them with modern green office space, the IFC, a member of World Bank Group, said in a press release.
"This operation supports Romania's strategic objectives to attract investment in digital skills and jobs, foster regional development, and operate a green transition," IFC Director for Europe and Central Asia Wiebke Schloemer said.
With more than 30 years of real estate experience, Iulius operates a retail portfolio covering upwards of 300,000 sq m in, two mixed-use urban revitalisation projects and three regional shopping malls that draw more than 68 million visitors every year. In the office segment, Iulius operates 13 green buildings with a total area of 152,000 sq m.
($ =0.8294 euro)