Located in the historic core of the city, near the Palace of Culture, the PALAS ensemble is a "city in the heart of the city".

Designed and developed pursuant to the “lifestyle center” concept, PALAS integrates in this unique complex areas for retail, hotels, A-class offices, underground parking lot with approximately 2,500 parking spaces and a perimeter set up for entertainment, all these on a built area of over 270,000 square meters.

PALAS represents a premiere, both for Romania and for the real estate portfolio of the IULIUS  Company, being the largest private investment ever made in north-eastern Romania, its total value being euro 265 million.

The grand opening of the ensemble took place on the 31st of May 2012.