In an economic context where sustainability and the capacity to generate long-term value are becoming increasingly important, RIVUS is one of the most ambitious urban regeneration projects in Romania. Using an investment upwards of € 550 million, the project is developed by companies IULIUS and Atterbury Europe on 14 hectares of the former Carbochim factory, which was upgraded and relocated using a € 7-plus million investment. A mixed-use project is taking shape on the former industrial platform, bound to integrate retail, office spaces, a cultural center, entertainment areas, and green spaces.
In March 2026, the project officially entered the implementation phase, marking the transition from planning and site preparation to actual development. The stakes, however, extend beyond the magnitude of the construction, as RIVUS seeks to harness the potential of an underutilized industrial area and to integrate it in the economic and urban dynamics of Cluj. “RIVUS is based on the idea that an urban project of this scale should generate long-term value for the people and for the city, rather than just adding new uses. We are talking about taking a former industrial platform, which has been inaccessible to the communities for decades, and transforming it into an open and connected space, built around the actual needs of the people, as well as opening this area toward Someș River,” said Sorin Guttman, Manager of RIVUS Cluj-Napoca.
The numbers behind a major development
Seven months after starting the works, the construction site reflects the scale of the operations: approximately 550 workers are on the ground every day alongside 51 partner companies. Concurrently, 12 tower-cranes have been rigged and the works are now underway for the underground structure, with the first pillars and walls for level -1 currently in progress.
These highlight the project moving into a phase where resource mobilization, teams’ coordination, and compliance with the construction schedule have become essential. For a project of this scale, implementation entails the simultaneous management of complex technical components, from underground infrastructure to integrating the future commercial and public uses.
The financial side of the project is also backed by a substantial financing structure. In 2025, IULIUS and Atterbury Europe announced that they contracted a syndicated loan of approximately € 400 million, granted by Erste Bank, BCR, EBRD, and BRD. At that time, the financing marked the largest loan granted to a new real estate development in Romania and is associated with sustainability standards such as LEED Platinum and EDGE Advanced.
A mix of uses built for a regional destination
The architectural concept, developed together with international architecture firm UNStudio, is built on integrating multiple uses in a singular complex. The retail component will include 142,000 square meters and more than 400 stores, featuring international brands, local concepts, and regional premieres.
The shopping offer will be complemented by office uses, cultural venues, entertainment areas, sports and wellbeing facilities, as well as more than 52,000 square meters of green spaces. The project also includes an urban garden, leisure areas, connections to Someș River, and the building of a road bridge and two integrated pedestrian walkways, seeking to connect the shopping experiences with everyday activities and leisure time.
One distinctive feature is the integration of two valuable industrial heritage buildings into the public and cultural circuit, namely the Arcade Hall and the red brick façade administrative building. The Arcade Hall will accommodate RIVUS Live Arts, a center dedicated to performing arts and creative industries, designed for theater and dance performances, concerts, exhibitions, and festivals, and to be managed in collaboration with the local cultural community. “Designed as an integral part of the project as early as the planning phase, the cultural center adds a distinctive dimension to the development and supports our goal to transform the former industrial platform into a mixed-use urban destination, marking a premiere for Romania,” added Sorin Guttman.
In fact, the Arcade Hall has already assumed its new identity before officially opening. It became a meeting place for artists and the public alike, as the venue has already hosted a contemporary dance performance, a contemporary art gallery, and an opening show for the Transylvania International Theater Festival.
The shopping mix in RIVUS consolidated by an 80% lease-up ratio
The pace of attracting tenants is an important indicator for the progress of our project: 80% of the retail area in RIVUS is already leased, signaling the operators’ interest in the upcoming mixed-use destination. “To us, each new project is a chance to redefine people’s experience in a city and to bring relevant concepts that are in tune with the needs of a constantly evolving community. RIVUS is a clear example of this visions, given the mix of brands and experiences it will accommodate in Cluj-Napoca, many of which are regional or even national premieres,” said Oana Diaconescu, Head of Leasing IULIUS.
The announced partnerships include IKEA, who will open its first store in Cluj-Napoca. The store integrated in RIVUS will feature a different format than the stores we already know, the first of its kind in South-East Europe, being attuned to the urban lifestyle and the needs of customers in the region. RIVUS will also feature a Peek & Cloppenburg flagship store, four LPP brands (Reserved, Mohito, House, and Cropp), three brands by Spanish fashion group Tendam (Cortefiel, a premiere for the Romanian market, as well as Springfield and Women’secret), and the first Jumbo store to open in Cluj-Napoca. The complex will also accommodate brands Crocs and Benvenuti, the multibrand retailer Enzo Bertini, with international footwear and leather goods brands, international children’s fashion brand Mayoral, Auchan hypermarket, and a Certified LEGO® store.
The sports and wellbeing segment will be complemented by fitness club spanning more than 1,200 square meters by Stay Fit Gym, as well as brands such as INTERSPORT, who are preparing the brand’s largest store in the IULIUS network, Mammut, who will open with RIVUS their first official brand store in Romania, or Himalaya, who are opening their first store outside of Bucharest.
The entertainment area will include the Energy Hub, a concept that brings together activities such as roller skating, bowling, arcade, gaming, billiard, and darts, along with the Energy Kids Family Center designed for children and families. Furthermore, Cineplexx will be the first multiplex cinema in the region to be equipped with IMAX® Laser technologies and an open air cinema concept, while Cărturești will open their largest bookstore in the country, spanning a total area of 2,500 square meters built on two floors.
In the premium segment, TEILOR and DAAR will diversify the jewelry offer, and JANINE will offer gold jewelry collections for the first time in Transylvania. The portfolio is complemented by Italian luxury brand Furla and many other concepts.
The food&beverage segment will include: Fabrika, Staropramen Czech In, Fenice Palas, Chin-Chin, Black Coffee, Gioelia, etc.
Local entrepreneurs will also play an important role, as more than 20% of the retail offer is addressed to local Cluj businesses. The announced concepts include Hairgonomy, a premium beauty and hairstyling salon in Cluj-Napoca; Taste of Asia, a store offering a diverse range of Asian products and authentic ingredients from various regions of Asia; Your Daily Pilates, a boutique studio dedicated to Reformer Pilates; and Meron, one of the most appreciated specialty coffee chains. This structure allows for combining the notoriety of established brands with the particularities of the local market and with operators who have firsthand knowledge of consumer preferences in the region.
“RIVUS is becoming a reality.” Community engagement continues
After 10,000-plus opinions from the community helped to shape the project in the planning phase, RIVUS is once again inviting the public on www.rivus.ro to propose ideas for the retail space that is still available.
The initiative seeks to identify concepts that cater to the local demand, ranging from culinary experiences and convenience services, to family facilities, beauty services, and spaces dedicated to hobbies. For interested entrepreneurs, this phase may be an opportunity to access a large-scale shopping destination, in a project that is building its offering through a combination of international brands and local businesses.
