The project is estimated around €80 million, raising the investment made by Iulius in downtown Iași upwards €520 million. The revamping will be carried out in phases, so that Palas can continue to run its business as usual.

“We aim to ensure Palas remains relevant for future generations. To achieve this, we are initiating a reconfiguration process, drawing upon our accumulated knowledge and expertise with a singular focus: the world and its needs are evolving, and so must we. While the complex is already successful, we are committed to further development. Through this new concept, we intend to continue supporting the growth of Iulius' hometown,” says Raluca Munteanu, Development Manager at Iulius.

The complex will undergo a significant expansion, increasing its retail space to 80,000 sqm. This growth will encompass the development of expanded and new flagship stores, alongside the introduction of first-to-region international retailers. Enhanced children's playgrounds and diverse entertainment options will cater to families, while a variety of new food and beverage concepts will enrich the visitor experience.

The Atrium, the central area of the retail building, will be redesigned to maximize natural light and create inviting spaces for gathering and relaxation. Green islands will be incorporated, and the redesign will offer improved, spectacular views of the Palace of Culture from within the building.

Palas Garden will be transformed into a vibrant public space, featuring interactive areas designed for children, outdoor waterfalls, and newly designed promenade routes. The landscape will be reimagined to create larger green spaces and dedicated relaxation zones, activating the entire park area.

A new events centre will be constructed, providing four halls with a combined capacity of up to 1,000 people. This centre will feature modern interior design, enhanced facilities, and improved views of the Palace of Culture.

Finally, an urban axis will be created to connect the Palace of Culture and the Luceafărul Theatre for Children and Young People. This area will be transformed into a public agora, featuring increased vegetation, relaxation areas, welcoming terraces, an outdoor amphitheatre, and venues specifically designed for families.