The IULIUS Company will invest € 11 million in a multilevel parking structure within the Openville mixed-use project, the first development of this kind in Timişoara. Located near Iulius Mall, the parking facility will be among the largest in the country, with a capacity upwards of 900 parking spaces. The works will start this spring and are set for completion this autumn.
Along with the current parking spaces in the Iulius Mall underground parking facility and the parking spaces to be fitted out within Openville, the urban project will provide its clients with approximately 4,050 parking spaces.
In order to enable client access directly into Iulius Mall, the multilevel parking facility will be connected to the shopping center via a pedestrian overcrossing.
The parking facility will comprise six levels, namely semi-basement, ground floor and four upper floors – spanning on a total built area upwards of 23,000 sqm. The building will be fitted with the latest access, signaling and detection technologies, as well as video surveillance systems. The modern parking will also benefit from a smart management system that will guide motorists towards the available parking spaces.
Also this spring, the IULIUS Company is starting the construction works for three new class A office buildings with a gross leasable area of 73,000 sqm. The three buildings are set to be delivered on the market within 12 to 18 months’ terms. Per total, the Openville Timișoara project will include seven office buildings with a gross area adding up to over 130,000 sqm, in what is set to become the main business district in the west of Romania. Of this area, 18,000 sqm have already been delivered in UBC 2, while another 13,000 sqm shall be completed this June in the UBC 1 building.
This year, Iulius Mall Timişoara is set to undergo expansion works for an additional 60,000 sqm. At the end of the expansion works, the 131,000 sqm gross leasable retail area of the Openville project will accommodate over 430 stores, restaurants and themed cafés, a multiplex cinema, a fresh market area, the largest playground for children and other indoor and outdoor leisure opportunities. The citizens of Timișoara will also be able to enjoy the largest suspended park in Romania spanning on over 55,000 sqm of green spaces.
Openville Timişoara is an investment of the IULIUS Company, adding up to over € 220 million. This will be the first mixed-use project developed in the west of Romania, set to become a comprehensive lifestyle destination and the office market hub for the entire region.