BusinessTuesday 27 March 2018

A new milestone in the construction of the largest office and retail complex in Timișoara

The Iulius Group inaugurated at the end of 2017 the second office building of the Openville ensemble, a mixed project that will become the largest business pole in the west of the country

Openville - Timișoara

Such multifunctional spaces are becoming a sort of fashion in Romania, where massive investments are made in mixed ensembles that combine either commercial spaces with residential ones, or office spaces with restaurants and commercial spaces or even everything all together. Openville fits into the second category, basically combining the concept of shopping mall with office spaces.

The project is a bold one, as already presented in one of our previous articles, but success is guaranteed even at this early stage. The new office building recently completed is already occupied and the other two office buildings that will to be completed in 2018 are also on the verge of becoming fully booked, even though the available space is huge: about 100,000 square meters of office space in all four edifices.           

Although expected, this success, or better yet the swiftness with which it was reached, may come as a surprise especially since the entire ensemble is not even half built. Still, the perspective of the final product is indeed appealing and firms probably wanted to take advantage of the more accessible rent prices which are now being demanded due to the fact that the area will continue to be a construction site over the course of the next 2-3 years.            

In addition, the presence of the largest mall in the city in the proximity of these office spaces is a huge advantage for all stakeholders involved, particularly because all the social-administrative needs of an individual can be solved within the mall. In this regard, in addition to shopping and restaurants, employees in the area have access to banks, beauty parlors, to a post office, to the city’s passport office and to the local car registration.

Automatically, through the presence of banks, individuals have the possibility to pay all their dues one step away from the office and subsequently they can also relax after working hours at the gym, or the gaming room, at the cinema, or at the cafes, bars or terraces that are housed within the complex. This level of accessibility and proximity help a lot in saving time, which is perhaps one of the most valuable things nowadays. Thus, from this perspective, the early success of Openville may not seem as surprising.  

Sources:

http://www.openville.ro/article/ro/182/Compania-Iulius-a-inaugurat-o-nou%C4%83-cl%C4%83dire-de-birouri-in-Timi%C5%9Foara-a-doua-in-decursul-unui-singur-an.html

http://www.openville.ro (photo)

Claudiu Bolcu

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