Green Horizons: RIVUS Cluj-Napoca Sets a National Record with €400M Loan to Transform Industrial Past into a Sustainable Urban Future

In a defining moment for Romania’s urban landscape, the city of Cluj-Napoca is poised to undergo a historic transformation, thanks to the largest loan ever granted for a new real-estate development in the country. The ambitious RIVUS Cluj-Napoca project a collaboration between IULIUS Group Romania and Atterbury Europe has secured a staggering €400 million, including €180.3 million from the European Bank for Reconstruction and Development (EBRD), marking a pivotal milestone for urban regeneration efforts in Central and Eastern Europe.

At the heart of this groundbreaking development lies a bold vision: to reconvert the former Carbochim industrial site, a 14-hectare footprint in the city’s core, into Cluj-Napoca’s most expensive mixed-use urban ecosystem. The site, previously underutilized with just 30% of its area in active use, is being reimagined as a dynamic urban hub blending commerce, culture, and community.

Designed by the world-renowned UNStudio, RIVUS Cluj-Napoca will encompass 132,500 square meters of Gross Lettable Area (GLA), including premier retail and entertainment venues. A centerpiece of the project is the restoration of two historic buildings, which will be reborn as a performing arts center, state-of-the-art offices, and family entertainment zones, harmonizing industrial heritage with forward-looking design.

Yet the project’s ambition extends well beyond bricks and mortar. With a focus on sustainability and livability, RIVUS introduces a 52,000-square-meter urban garden, a green sanctuary in the city, complete with over 700 mature trees, many transplanted from the original site, and more than 100,000 decorative plants. The main retail building will be adorned with green facades, a green roof, and even a Japanese garden, establishing a new benchmark for eco-conscious design in Romania.

“This is more than just a development; it’s a blueprint for the city of tomorrow,” said Marius Perșenea, Chief Operating Officer at IULIUS. “We are not only creating a destination, but also reconnecting the community with the urban fabric in a sustainable, inclusive way.”

The scope of RIVUS also includes critical infrastructure upgrades two pedestrian bridges and a four-lane vehicle bridge over the Someșul Mic River, alongside new roundabouts, roads, bike lanes, and smart traffic systems. Car and bike parking facilities will feature EV charging stations, further supporting the city’s green transition. Notably, key infrastructure will be donated to the Municipality of Cluj, ensuring that the public reaps long-term benefits.

With an estimated total investment exceeding €500 million, and currently in the building permitting phase, RIVUS is more than a landmark real estate venture, it’s a paradigm shift in urban regeneration. Operated by Rivus Investments, the equal joint venture between IULIUS and Atterbury Europe, the development signals not just confidence in Cluj-Napoca’s future, but also a new era in Romanian real estate, where innovation, sustainability, and heritage coalesce.

As the city gears up for this monumental transformation, RIVUS Cluj-Napoca stands as a symbol of renewal, turning the page from industrial decline to a vibrant, green, and globally relevant urban future.