Top 10 CEE investable projects: RIVUS – Cluj-Napoca, Romania

RIVUS Cluj-Napoca

Project overview

RIVUS is a largescale mixed-use urban regeneration project in Cluj-Napoca, developed by IULIUS and Atterbury Europe. Spanning 14 hectares on the site of a former industrial platform, RIVUS will feature Romania’s largest retail area – 145,000 sq m of gross lettable area – alongside a 52,000 sq m urban garden, premium office space, cultural venues and entertainment facilities.

It is the first concept in Romania for world-renowned architecture firm UNStudio, and represents a new benchmark for integrated, sustainable urban development.

The opportunity

RIVUS offers a comprehensive investment platform across lifestyle, culture, retail and office segments. Key features include more than 400 retail units, 30 themed restaurants and cafes, a live arts centre and auditorium, reconverted industrial halls for cultural and commercial uses, and 15,000 sq m of premium green office space. The development integrates nature with a rooftop Japanese garden, a new city park and open-air cinema zones.

Financials

The project represents a total investment of €500 million, with €66 million dedicated to public utilities, connectivity and mobility infrastructure. The development includes 165,000 sq m of total leasable area (145,000 sq m for retail and 15,000 sq m for office space), positioning RIVUS as Romania’s most ambitious lifestyle-led regeneration investment.

Project sponsor

RIVUS is being developed by IULIUS, Romania’s leading mixed-use developer, and Atterbury Europe. With more than 25 years of experience, IULIUS has delivered landmark projects in Iași, Cluj-Napoca, Timișoara, and Suceava, with a portfolio exceeding €1.8 billion in market value. The project has received urban planning approval and is currently in the permitting phase.

Significance

RIVUS reclaims a former brownfield site in central Cluj-Napoca, transforming it into a modern, accessible urban hub that will revitalise the area’s economic and cultural identity. It also marks the first integration of the Someș River into the public urban landscape in this district.

Beyond job creation and tourism, RIVUS retains industrial continuity by relocating and upgrading the Carbochim factory — Romania’s largest abrasives manufacturer — with a €7 million investment to preserve local employment.

The pitch

RIVUS presents a compelling opportunity to invest in a flagship urban destination that blends commerce, culture, nature and community.

Anchored by Romania’s largest retail space and complemented by arts, wellness, hospitality, and office functions, RIVUS is designed to be a vibrant, inclusive and sustainable city district, setting a new standard for mixed-use development in the region.