AFI Europe obtained the building permit for AFI Arad retail park

Bucharest, August …AFI Europe Romania obtained the building permit to start the construction works for the Hypermarket and the DIY shop within AFI Arad retail park, joining the 3 projects the company is currently developing in Romania.

AFI Arad will be developed in the city center of Arad, on a land plot of 80,000 sqm. The retail park will have a total surface of 35,000 sqm including a Hypermarket of approx. 9,000 sqm linked to a shopping gallery, a large DIY shop of approx. 9,000 sqm and additional standalone retail boxes of 1,000 – 2,000 sqm each, that will complete the classic U shape of a retail park.

The total GLA (Gross Leasable Area) of the project is 32,000 sqm served by over 1,000 parking places. As the building permit has been achieved, the construction works for AFI Arad is planned to start in the next couple of months.

AFI Arad is one of the many commercial projects AFI Europe is currently developing in Romania during 2012-2013; amongst other are AFI Ploiesti Shopping Mall and AFI B.NOI Shopping Mall, AFI Business Park Cotroceni (Offices) and the existing Shopping Mall AFI Cotroceni.

In order to maximize the impact of the new retail park, the developer has formed the collaboration with neighboring Atrium Shopping Mall.

“The cooperation with Atrium Shopping Mall is moving forward as we intend to create the only retail center to serve Arad city. By having a retail park with a full size Hypermarket and a Do-It-Yourself store together with the neighboring shopping mall that is offering fashion, cinema and entertainment we definitely provide all the needs for shopping for the city and surrounding residents. The most important advantage is that shoppers can travel from the mall to the retail park by foot as they are only 50 meters apart”, stated David Hay CEO AFI Europe Romania.

Together, both projects will provide approximately 60,000 sqm of GLA with a variety of shopping experiences and will over shadow any other retail project developed in Arad.