Atterbury Europe applauds Iulius Town Timișoara for its win at The European Property Awards
26 January 2021
Atterbury Europe’s urban regeneration development partnership with IULIUS, Iulius Town Timișoara, has been named the “5 Star Winner Best Mixed-use Development Romania” at The European Property Awards, the most prestigious competition in the region.
Atterbury Europe CEO, Henk Deist, comments, “The Atterbury Europe team, together with our partners, are thrilled to be the recipients of this highly coveted international accolade. We couldn’t be more proud to be associated with the IULIUS group and the highly skilled and professional Iulius Town Timisoara team.”
Representing a c. €450 million investment, the Iulius Town Timisoara development has gained international recognition for its integrated mixed-use concept, positive community impact and innovation. It is the only mixed-use project in the west of Romania.
Iulius Town Timișoara achieved the highest distinction (5 Star Winner) in the Mixed-use Development category for Romania from the specialised international jury for features such as location and city connectivity, architecture, sustainability and innovation, integrated facilities and services, uses and impact within the community. The high score achieved by the project, one of the highest in Europe, saw Iulius Town Timișoara nominated, alongside three other projects in Russia, Cyprus and Turkey, for the “Best of Europe” title.
Iulius Town Timișoara has become a landmark due to its innovative synergy of retail, office, park and public infrastructure. It answers the demand for premium green offices, high-end brands, and entertainment destinations in Romania’s western region. The precinct includes a fully fitted-out park with mature trees, lawn, lake, outdoor squares and promenades. It also introduced connectivity between the project and the city, playing a significant part in urban revitalisation and mobility with a traffic underpass, pedestrian connections and upgrades to arterial roads, which are rarely found in European real-estate developments. The park’s importance for its community was emphasised all the more last year when outdoor socialising became the norm. The project is a magnet for Romanians and people from Serbia and Hungary, who visit for shopping and relaxation.
Prime locations, a creative environment, appealing aesthetics, elegant architecture, and safety and accessibility are all hallmarks of Atterbury Europe developments.
Atterbury has a well-established reputation as a leading developer but is perhaps less known as a long-term investor in property assets. However, most of its portfolio is income-producing and enhanced by its exceptional asset management skills through which it unlocks value and income.
“Atterbury Europe views development and investment as the keys to unlocking economic and societal growth and improvement. This approach ensures that we can sustainably build on our longstanding partnerships with our fellow investors, professionals and communities wherever we operate,” said Deist.
This ethos is evident in Atterbury Europe’s assets and developments. It owns The Mall of Cyprus in Nicosia, which at 55 000sqm is the capital’s largest shopping centre following Atterbury Europe’s award-winning extension of the mall.
The newest addition to its portfolio is the BEO Shopping Centre, a c. EUR 130 million joint investment with Serbia’s largest real estate development company MPC Properties in Belgrade. The investment in BEO Shopping Centre builds on this successful partnership. Together Atterbury Europe and MPC Properties own UŠĆE Shopping Centre and UŠĆE Tower Two business centres, Mercator Centre Belgrade, IMMO Outlet Centre and many other retail and office facilities built to highest standards. The 130,000sqm three-floor shopping centre – the equivalent of 20 football fields - opened in June last year with more than 130 stores featuring leading global and regional brands.
The team is also busy with several new projects including the redevelopment of Mall of Engomi, Atterbury Europe’s second mall project in the Cyprus capital of Nicosia. Scheduled to take 12-months, the upgrade is due for completion in two phases later this year. The 14,500sqm Mall of Engomi is being modernised and strategically re-tenanted to meet the residents’ needs in the affluent suburb of Engomi.