Businessman Iulian Dascălu, 41, owner of Iulius Mall shopping centre chain, last year posted 41.2 million-euro revenues from renting out the malls held in Cluj, Timişoara, Suceava and Iaşi, up 3% on the preceding year, after the completion of a 60 million-euro investment in expanding the Timişoara project in November 2009.
Dascălu is the most prominent mall owner on the Romanian market, with a portfolio of 175,000 square metres of retail space, with the help of bank loans of over 200 million euros. He managed to rent out space to multinationals such as Auchan, Inditex and Cinema City, with the help of which he attracted 43.6 million visitors last year to the projects he owns, 9% more than in the previous year.
"2010 was a year of consolidation for Iulius malls on the Romanian retail market. For 2011 we expect an upward trend, both in terms of traffic and of sales, especially in the second half of the year. These increases will also have to do with the opening of H&M stores in Palas Iaşi, Iulius Mall Timişoara and Iulius Mall Cluj," Iulian Dascălu told ZF.
Businessman Iulian Dascălu, 41, owner of Iulius Mall shopping centre chain, last year posted 41.2 million-euro revenues from renting out the malls held in Cluj, Timişoara, Suceava and Iaşi, up 3% on the preceding year, after the completion of a 60 million-euro investment in expanding the Timişoara project in November 2009.
Dascălu is the most prominent mall owner on the Romanian market, with a portfolio of 175,000 square metres of retail space, with the help of bank loans of over 200 million euros. He managed to rent out space to multinationals such as Auchan, Inditex and Cinema City, with the help of which he attracted 43.6 million visitors last year to the projects he owns, 9% more than in the previous year.
"2010 was a year of consolidation for Iulius malls on the Romanian retail mar
