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May 24, 2023 11:17 EEST
May 24 (SeeNews) - Romanian real estate developer Iulius said that it will invest 40 million euro ($43 million) in a new office building within the mixed-use project it owns in the eastern city of Iasi.
The building will be part of the Palas Iasi business hub and will have 18,000 sq m of leasable area, Iulius said in a press release on Tuesday.
The developer will start works on the building next year. It will be the eighth office building integrated in the Palas Iasi project.
In April, Iulius announced the opening of another office building integrated in its Iasi hub, Palas Campus, following an investment of 120 million euro.
Iulius has thus far invested more than 320 million euro in Palas Iasi and more than 500 million euro in real estate projects in the city altogether.
The real estate developer's portfolio includes more than 310,000 sq m of retail premises in two mixed-use projects in Iasi and Timisoara and some 242,000 sq m of office spaces spread across 15 buildings.
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