Iulius Group expects Palas to generate EUR 156 million for local council
Note that this information is outdated.
Iulius Group expects its future EUR 200 million Palas project in Iasi will bring the local city council EUR 56.5 million in revenues by 2055 under the concession fees, while the taxes on the project's profit should reach EUR 100 million by the same date, according to company data.
The project is being developed by Iulius Group, controlled by businessman Iulian Dascalu, in partnership with the local Iasi council, which owns the land.
The Palas project, to expand on 12 hectares close to the Culture Palace in Iasi, should be completed in 2010.
The firm has recently started construction works on the first of the two office buildings to be part of the mixed project, while archeologists are working on the site.
Read More