Iulius Company opened Palas Campus in Iasi, eastern Romania, on April 25 – an urban regeneration project promoted as the largest office building in Romania. The investment amounted to over EUR 120 million, being the largest private investment in Iasi in the last decade, the developer said.
World-renowned companies to move in
Palas Campus comprises six building blocks with a leasable area of 60,000 sqm, of which 54,000 sqm of office premises and 6,000 sqm of retail premises. The campus is designed as an integrated mixed-use project, with the ground floor including restaurants, coffee shops, a supermarket, a gym, a medical centre, and an area for services. The tenants of the Palas Campus have access to an underground parking lot with 625 parking spaces spanning two levels – Romania Insider reports.
“We kickstarted Palas Campus when we were already facing the challenges of the pandemic in an expectant office market. We are now welcoming our partners into our new building: 13 world-renowned companies, with dedicated offices for more than 5,000 local talents in the creative and automotive industry, who are working here on programming that impacts the future of business, safety and quality of life in general.” – Iulian Dascalu, president of Iulius
A total of 13 companies from the US, Germany, France, Norway, Switzerland and Romania have set up head offices in Palas Campus, with some opening their first offices in the region. The list of tenants includes Amazon Development Center Romania, AMD – Advanced Micro Devices, Allianz-Tiriac, Cognizant Softvision, HELLA Romania, and Microsoft.
Double green certification
Similarly to other urban regeneration projects developed by IULIUS Company, Palas Campus has a strong green footprint. In 2021, the building obtained the first green loan granted to a Romanian company by the IFC (International Finance Corporation, a member of the World Bank Group), in the amount of 72 million Euros.
Palas Campus was built in line with the highest sustainability standard principles applicable to green buildings, being the only project in Romania to undergo a double green certification process:
- EDGE (Excellence in Design for Greater Efficiencies) by the IFC – certifies the achievement of resource-saving and operating efficiency parameters;
- LEED (Leadership in Energy and Environmental Design) by the US Green Building Council – certifies sustainability in design, construction and operation.
The green terraces fitted atop the fourth floor are another premiere. Palas Campus also benefits from more than 1,200 photovoltaic panels installed on the roof, with a 500 kW installed capacity.