International Finance Corporation, from the World Bank Group, offers a Iulius Holding branch a 72 million euro financing for the construction in Iaşi of a large ecological complex dedicated to office space
“IFC, a member of the World Bank Group, supports the construction of an environmentally friendly IT complex with an area of 60,000 square meters in Iasi, a city in northeastern Romania. The building will be one of the largest office complexes in the country and is part of an extensive effort by IFC to contribute to the construction of an environmentally friendly business infrastructure, which will attract foreign investment and facilitate the diversification of the Romanian economy. IFC offers Palas Campus, a wholly owned subsidiary of Iulius Holding, funding of approximately € 72 million for the construction and operation of an energy-efficient office building, which will be used by IT&C companies ”IFC reported.
This is the first green loan granted by IFC to a Romanian company based in Romania. Iulius Holding is a local developer of real estate projects and has a diverse portfolio of properties throughout Romania.
The new complex will receive IFC Certification EDGE (Excellence in Design for Greater Efficiencies) for buildings. EDGE buildings use at least 20% less energy and less water than ordinary buildings, thus mitigating climate change.
“Obtaining a syndicated loan for environmental projects from IFC for the Palas Campus project, the first loan of its kind in Romania, is a confirmation of the principles of sustainable development and operational policies that underlie this project. These efforts will open new horizons for the business community, in terms of international investments “, says Iulian Dascălu, president of Iulius Holding.
The new complex will help Romania attract and retain foreign investors and their businesses, offering them modern and environmentally friendly office space, he added.
“This operation supports Romania’s strategic goals of attracting investment in jobs capable of leveraging digital skills, encouraging regional development and operating in the green transition,” said Wiebke Schloemer, IFC Director for Europe and Central Asia. .
To date, IFC has invested $ 5.4 billion in green buildings around the world, and the EDGE program has saved more than 220,000 tons of carbon dioxide on many commercial and residential buildings. The EDGE certification system developed by IFC helps real estate project developers build in an environmentally friendly, easy, fast and cost-effective way. The program is supported by Austria, Canada, Denmark, the Energy Management Assistance Program (ESMAP), the European Union, Finland, the Global Environment Facility (GEF), Hungary, Japan, Switzerland and the United Kingdom.
IFC, a member of the World Bank Group, is the largest global private sector development institution in emerging markets. The activity takes place in over 100 countries around the world. In fiscal year 2020, it has invested $ 22 billion in private companies and financial institutions in various developing countries.
Iulius is the only operator and developer of mixed urban regeneration projects in Romania, with an experience in the real estate field of over 30 years. Iulius operates a retail portfolio of over 300,000 sqm, two mixed urban revitalization projects (Palas Iaşi and Iulius Town Timişoara), and 3 regional malls (Iulius Mall Iaşi, Iulius Mall Cluj-Napoca and Iulius Mall Suceava), which attract over 68 millions of visitors every year. In the segment of office buildings, Iulius operates 13 green buildings with a total area of over 152,000 square meters within the United Business Center national network, where over 80 companies have their headquarters, with over 15,000 employees.