AFI Cotroceni Retailers Registered 5.3% Higher Sales In January-September

Retailers in shopping center AFI Cotroceni (Bucharest) registered sales of EUR145 million in the first nine months of 2013, up 5.3% on the year.

The mall’s rental revenues amounted to EUR21.2 million in January-September, 8% higher on the year. Its net operating income in the third quarter of 2013 stood at EUR7.1 million, up 10% compared with the similar interval a year ago.

AFI Cotroceni is owned by Israeli real estate developer AFI Europe. It was opened in 2009 and has a lettable area of 80,000 square meters.

In October, AFI Europe opened shopping center AFI Ploiesti following an investment worth EUR50 million. AFI Ploiesti has a lettable area of 33,000 square meters and is valued at EUR58 million. Its first phase was 98% rented at the end of September.

On the office building segment, AFI Europe is developing office center AFI Park, which will include five towers. The first tower, AFI Park 1, was delivered in September 2012 and is entirely rented. The second office tower, to be inaugurated in April 2014, is also 100% occupied.

AFI Europe has been operating in Romania since 2005.