Bucharest, January 15, 2014:
AFI Europe Romania has signed the first lease agreement of the year, for 40% of the total rentable area of the office building AFI Park 3, with the British held IT Company Endava Romania. The lease includes four floors in the third building of AFI Park office development with options for additional spaces to be leased according to Endava’s expansion plans. The company already occupied two floors in AFI Park 1, which will be relocated in the third building in December 2014, while also expanding its business with two additional floors.
“Endava is one of our main strategic long term partners and we are glad that AFI Park manages to answer Endava’s business plans requirements by offering the suitable space in terms of technical specifications requirements and expansion needs in the needed timeframe. The current leasing results, having 100% of the areas leased in AFI Park 1, 96% of the areas leased in AFI Park 2 and the recent Endava pre-lease in AFI Park 3 makes us confident to start the construction of additional 27,000 sqm of Gross Leasable Area in AFI Park 4 and 5, which will commence during the first quarter of this year”, said David Hay, CEO AFI Europe Romania.
“Our company is in a continuous expansion process and we are happy that we found in AFI Park the office project which delivers to our needs and suits our plans in order to increase our headcount in Bucharest up to 400 people by the end of 2014. AFI Park has a series of advantages for us, such as location, accessibility, services provided by AFI Palace Cotroceni mall, parking, proximity to the university and possibilities for further expansion in the same office complex, all which made it the right decision for us to continue and expand in the Park”, declared Radu Grosu, Delivery Director for Endava’s business unit in Bucharest.
Endava is a very active employer on the IT market in Romania and has over 1,000 staff in the delivery centres in Bucharest, Cluj and Ia?i. Endava was recently named the #1 IT employer to work for in Romania in a ranking published by an important business magazine and the company announced plans to grow staff numbers in Romania by 25% each year in the next two years. At the moment, Endava has nearly 300 employees in Bucharest, who are involved in software development projects mainly for clients in the UK and the USA in the banking & payments and media & publishing sectors.
AFI Park enjoys an exceptional high demand registered to the project, mainly from companies in the IT&C industry, as the two floors which Endava will leave vacant in the first building after its relocation have already been leased to tenants from the IT&C industry domain strengthening the office complex position as an IT&C Hub. One of these companies has also leased the entire remaining leasable area at the ground floor of AFI Park 1, totalling the leased area to 3,000 sqm.
About AFI Europe Romania:
AFI Europe operates in Romania since 2005. The company has developed and is managing “AFI Palace Cotroceni”, the biggest and most dominant shopping mall in Romania and among the biggest shopping malls in the CEE region. The project spreads over a leasable area of more than 80,000 sqm 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 52,000 customers per day.
Adjacent but fully integrated into AFI Palace Cotroceni shopping mall, AFI Europe Romania is currently developing AFI Park, Bucharest’s newest and most advanced Class A business Park. AFI Park offers more than 60,000 of office leasable area, currently targeted by multinational IT&C corporations. The first building, AFI Park 1, with 12,200 sqm of gross leasable area, has been completed on September 1st, 2012 and is 100% leased, in the second office building, AFI Park 2, 100% of its office space has been fully leased to Electronic Arts (developer of FIFA games), and in AFI Park 3, 40% is leased to Endava, the buildings will be delivered in April, and December 2014 respectively. Each building offers 12,150 sqm of Gross Leasable Area. The two remaining buildings AFI Park 4 and 5 consisting of 27,000 sqm of Gross Leasable Area will commence construction during Q1 of 2014.
On October 3rd, 2013 AFI Europe inaugurated AFI Palace 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.
In addition, AFI Europe Romania has two retail projects to be developed in the near future, “AFI Palace Arad”, a 30,000 sqm GLA retail park to be developed in the city centre of Arad, on a land plot of 80,000 sqm and “AFI Palace B.Noi”, a 36,000 sqm GLA Shopping Mall to be developed in Bucure?tii Noi district 1 of Bucharest.
In the office segment, AFI will develop AFI Business Park Bucharest, a 50,000 sqm of GLA class A business park to be located in close proximity to the J.W. Marriott hotel and the Romanian Parliament in Bucharest’s district 5. 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.
Endava is a privately owned IT services company established in 2000. With over 1,400 full time employees, Endava currently has 8 offices across the UK, USA, Romania and Moldova and an annual revenue of over £40 million / € 50 million.
Endava deliver, build and run mission critical IT Services and Business & Digital solutions, for some of the world’s leading companies in the Banking & Payments, Insurance, Telecommunications, Retail, Consumer Goods, & Travel and Media, Tech & Publishing sectors. Endava is specialized in delivering services such as: Application Development, Digital Media, Independent Testing, Application Management and Cloud Services.