IULIUS will invest 80 million euros in the refurbishment of the Palas Iasi mixed-use development and in expanding its leasable area by 18,000 square meters of retail space.

The works will be carried out over a three-year period and aim to enlarge the retail areas for existing tenants, while also attracting new brands. The project will also include a reconfiguration of retail spaces in collaboration with the architecture firm Foster + Partners.

So far, the Palas Iasi project has benefited from total investments of 320 million euros. The mall records an average daily footfall of 60,000 visitors, totalling approximately 22 million visits annually.

“With the remodelling of Palas Iași, our primary objective is to increase the retail area. We will introduce additional entertainment functions, including a new play area. The leasable area will increase by 18,000 square meters, reaching a total of 80,000 square meters,” said Raluca Munteanu, Development Director at IULIUS.

In December 2025, IULIUS announced a 305 million euros syndicated loan facility for a portfolio of multiple buildings within the Palas Iasi mixed-use project.

The financing was granted by a banking syndicate consisting of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will provide the capital required for the remodelling of Palas Iasi and support the implementation of the company’s projects currently under development.

Palas Iași, Romania’s first urban regeneration mixed-use complex, opened in 2012.