The project will be implemented in stages and will transform Palas into a modern urban space, with pedestrian alleys, extensive green areas, event spaces, playgrounds and entertainment centers. The total retail area will exceed 80,000 sq m, and among the novelties are the expansion of existing stores and the introduction of international brands such as Furla and JD Sports.
Underground parking lots will be arranged, and the esplanade in front of the "Luceafărul" Theater will become a multifunctional green space, including an outdoor amphitheater. The event center will be modernized and expanded, reaching 4 halls with a total capacity of 1,000 people.
Almost 13 years after its inauguration, Palas Iași is the most performing shopping center and the largest business hub outside the Capital, attracting 22.2 million visitors annually and hosting 60 companies and 14,000 employees.
"More than a redevelopment, the project puts Iași on the international map of architecture and urbanism, becoming the first in Romania to be carried out by the renowned Foster + Partners office. But, beyond prestige, the essence of this project is the community. We are redesigning the space to connect it even better with the city, adding green relaxation areas, welcoming terraces, outdoor amphitheaters and spaces dedicated to families. We are expanding the existing stores, bringing in new international brands and diversifying the recreational offer, so that Palas remains the favorite place of Iași residents and those who visit our city", said Raluca Munteanu, Iulius Development Director.
