AFI Europe – Advanced Discussions with Several Hypermarket Chains to Anchor The Shopping Mall in Brasov

Bucharest, 29.03.2016:

AFI Europe Romania has completed the acquisition of the 40,000 sqm plot in the City Center of Brasov, where it will develop a Mixed–Use project that includes AFI Brasov Shopping Mall and AFI Park Brasov Class A office Project. The company is already in advanced discussions with several retail chains to be the food hypermarket anchor of the Shopping Mall, which is planned to be delivered in Q4 2017.

“AFI Brasov is one of our most important projects in Romania. We have completed the acquisition of the plot and on going negotiations are currently held with the leading chains in Romania for the hypermarket location. We expect to be able to announce our partner in the next few weeks”, said David Hay, CEO AFI Europe Romania. “Currently we are focusing on planning the perfect tenants mix, accordingly to the requirements and the shopping experience of Brasov inhabitants and tourists visiting the City. The hype of retailers for the project is giving us the confident that it will be one of the most exciting malls in the region and the leading Shopping Mall in the City”, added David Hay.
The 45,000 sqm shopping mall planned to be developed in the business centre of Brasov (Centru Civic) will be mostly spread over two levels, emphasizing the entertainment and leisure attractions. As a unique feature, visitors will enjoy a large leisure balcony viewing the Carpathian Mountains that can host different events and activities for families and tourists. The project will be constructed to be a Green Building – LEED Gold Certified.

About AFI Europe Romania:

AFI Europe operates in Romania since 2005. The company has developed and is managing “AFI Cotroceni”, the largest and most dominant shopping mall in Romania and among the leading shopping malls in the CEE region. The mall spreads over a leasable area of more 82,000 sqm (GLA) and offers to its visitors a large entertainment area with multiple leisure options and a variety of over 300 shops of local and international brands, visited by 50,000 customers per day.
In October 2013, AFI Europe inaugurated AFI Ploiesti, the first and only modern shopping mall developed in the city centre of Ploiesti, following an investment of over EUR 50 million. The shopping mall offers a total gross leasable area (GLA) of 33,000 square meters spreading over two retail floors occupied by 100 national and international brands, including more than 7,000 sqm of entertainment.

Adjacent but fully integrated into AFI Cotroceni shopping mall, AFI Europe Romania has developed AFI Park, Bucharest’s newest and most advanced Class A business Park. AFI Park offers 70,000 of office leasable area occupied by multinational IT&C corporations. AFI Park 1-3, with 38,000 sqm of leasable areas are 97% leased. In February 2016 AFI Europe Romania has completed AFI Park 4&5 office building offering additional 32,000 sqm of gross leasable area to the total project. AFI Park 4&5 has reached a 60% occupancy rate, before its completion, with the pre-lease of 18,000 sqm to Cameron, SII Romania, ORTEC Central & Eastern Europe, FotoNation and a new important entry to the IT&C Romanian market (name currently confidential).

AFI Europe Romania is currently planning for a development of a a Mixed–Use project that includes „AFI Brasov” a 45,000 sqm GLA Shopping Mall and „AFI Park Brasov” Class A office Project a 20,000 sqm GLA office project.
In addition, AFI Europe Romania has two projects to be developed in the near future on the company’s 80,000 sqm land plot in Arad where a Retail park is to be developed and the mix use project to be developed on the 148,000 sqm land plot in Bucurestii Noi district 1 of Bucharest.

In the office segment, AFI will develop AFI TECH PARK, a 50,000 sqm of GLA Class A Business Park located in close proximity to the J.W. Marriott hotel and the Romanian Parliament. The business park will comprise of 2 low rise office buildings and one office tower, with ample green areas, a high tech/campus style environment in an urban complex with a central plaza & gardens. AFI TECH PARK manages to answer the expanding needs of IT&C companies in Romania by offering a suitable space in terms of technical specifications accompanied by required expansion options. The fact that the Business Park is located in Downtown Bucharest and not in City Outskirts provides the Park the unique advantage sought after by multinational companies in Romania.