News

AFI Europe Pre-Leases 16,000 sqm in AFI Park 4&5

Bucharest, 19.01.2016:

Office buildings AFI Park 4 and 5 have reached 50% (16,000 sqm) pre-leases at the beginning of 2016, due to its superior location and technical specifications, 24/7 non stop operations, being LEED Gold certified and having AFI Cotroceni in its proximity. The 4th and 5th phase of the office project AFI Park developed near the mall in Cotroceni will be delivered in 2 weeks time, when the first tenants will take over their spaces and start operations.

Cameron, one of the tenants in AFI Park 1, will expand and relocate its offices into AFI Park 4&5. The other three companies which have signed agreements for spaces in the two buildings come from the IT&C industry. SII Romania, a company specialized in providing technology services and solutions for medium and large enterprises, has leased 3,000 sqm on the 10th floor of the office buildings, while another 3,000 sqm will be occupied by a new important entry to the IT&C Romanian market. Additional several thousands of sqm are taken over by ORTEC Central & Eastern Europe, a major player in the advanced planning software and operations research field.

The ground floor will be occupied by the Italian restaurant “Trattoria Uno”, next to “Tucano Café” and a show room location leased by “Pinum Doors & Windows”.

The spaces in AFI Park 4&5 are delivered according to tenants’ planning and design. Specific requests from the companies in the IT&C industry is to have a floor plate of about 3,000 sqm, to enable maximum natural light with a clear height of 2.8 m floor to ceiling and to be provided with an approved fire system scenario according to EU standards, including sprinklers and smoke detectors.

As all AFI Park office buildings, AFI Park 4&5 benefit of an estimated 40% reduction of energy consumption and water use compared to a regular office. The project incorporates certain unique abilities as electricity and HVAC design are developed according to a floor layout of one work station to 7 sqm and an option for LED lighting in the office space.

An additional unique element that sets the office buildings apart from the other projects on the market are several advanced back-up solutions including electricity high voltage supply from 2 different sources that assure AFI Park 4&5 tenants a 24/7/365 days continuous activity.

AFI Park consists of 5 Class A office buildings totaling 70,000 sqm of GLA, which are linked to the AFI Cotroceni Shopping Mall (82,000 sqm GLA). The complex (152,000 sqm of leasable areas, GLA) enables the most convenient and perfect combination between business and personal lifestyle, a work environment which meets the modern lifestyle sought after by the IT generations – Generations X, Y and Z.

AFI Park is easily accessible through the public transport system, with a nearby Metro station (Politehnica), located only 250 meters from the project, in addition to 12 different bus and tram lines that are serving the mall and the business park. AFI Park has been established as the new IT&C Hub for prestigious multinational companies, such as: Electronic Arts, Conglomerate TELUS International, UK held Endava Romania, Microchip Technology, Sparkware Technologies and Cameron Romania, part of Cameron Group.

About AFI Europe

AFI Europe, a subsidiary of AFI Properties, is one of the leading real estate development, management and investment companies, which is operating in Central and Eastern Europe since 1997.

AFI Europe’s diversified portfolio consists of shopping malls and retail properties, business parks and large-scale residential and mixed-use developments. AFI Europe operates in Romania, Czech Republic, Poland, Germany, Bulgaria, Serbia, Hungary and Latvia.

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 project 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 52,000 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 is currently developing AFI Park, Bucharest’s newest and most advanced Class A business Park. AFI Park offers 70,000 of office leasable area, currently targeted by multinational IT&C corporations. The first office building “AFI Park 1“, with 12,250 sqm of leasable area, is 100% leased. In April 2014 AFI Europe inaugurated “AFI Park 2” with 12,200 sqm of GLA and is 100% leased, while “AFI Park 3“, delivered  in December 2014, is leased to Endava Romania and TELUS International Europe. In April 2014 AFI Europe Romania has commenced construction of AFI Park 4&5 office building that will offer additional 32,000 sqm of gross leasable area to the project and is planned to be delivered in February 2016. AFI Park 4&5 has reached a 50% occupancy rate, before its completion, with the pre-lease of 16,000 sqm to Cameron, SII Romania, ORTEC Central & Eastern Europe and a new important entry to the IT&C Romanian market.

In July 2015 AFI Europe has signed an agreement to purchase a 40,000 sqm plot in the City Centre of Brasov for the development of a 45,000 sqm GLA shopping mall and 11,000 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 to be 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.