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AFI Europe Romania secures first tenant for AFI Tech Park business campus: AFI Tech Park signs with World Class

Bucharest, November 28, 2017: AFI Europe Romania has signed the first lease agreement for AFI Tech Park, the company’s newest business park developed in Bucharest. World Class Romania, leader on the Romanian health & fitness field, will be the first tenant of the campus, by leasing 1,500 sqm GLA spread on the Ground Floor and the 1st floor of AFI Tech Park 1. The lease contract was signed for a period of 10 years.

 

AFI Tech Park is developed in the proximity of the JW Marriott Hotel and the Romanian Parliament and will offer 56,000 sqm GLA of Class A offices, comprising of two office buildings with GF+8 and one office tower of 14 floors, all surrounded by over 5,000 sqm of green areas. The first office building, AFI Tech Park 1, will open in Q2 2018, offering 20,000 sqm GLA office space and 2,000 sqm of retail area (World Class gym, canteen and coffee shops).

The investment for the first phase of AFI Tech Park is over EUR 30 million.

 

“We are proud to announce the first tenant of AFI Tech Park, our newest class A office project in Bucharest. Signing for a 10 year lease term shows the confidence World Class has in our project and the upcoming new zone of development in Bucharest. In addition, 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” says David Hay, CEO AFI Europe Romania.

 

A unique service AFI Tech Park is providing to the tenants is a 400 sqm conference hall to be shared by the tenants of the office buildings. This benefit is optimizing the costs of the tenants by not accommodating such large halls inside their office space anymore. Together with the surrounding retail facilities (Liberty mall, Vulcan Retail Park,), the office project is bringing additional benefits such as: “AFI Club” membership offering discounts for lunch and other services, and also the first car sharing service in Bucharest. The entire project is designed to provide high technical specifications especially for IT&C, BPO and shared services companies, as well as large floor plate of approx. 2,800 sq m GLA and also expansion options inside the Park.

 

AFI Tech Park is built to obtain the highest recognition of green building and has already obtained the LEED Platinum pre-certification for the use of construction, design and operating techniques and technologies with a minimum impact on the environment.

 

About AFI Properties:

AFI Properties is a member of the AFI Group, an international holdings and investments conglomerate with subsidiaries that engage in real estate, construction, infrastructure, industry and hotels (www.afigroup-global.com).

The company is active in the income producing and development property market since 1971. AFI Properties has been listed on the Tel-Aviv stock exchange in 2004. The company has been active in Europe since 1997 through its subsidiary AFI Europe mainly in the CEE markets. AFI Properties is ranked “BBB+ positive” by S&P and “A3 stable” by Midroog (a subsidiary of Moody’s).

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 mall spreads over a leasable area of close to 90,000 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 34,000 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 1-5 are close to 100% leased. AFI Park line-up of multinational tenants includes: Microchip Technology, Electronic Arts, Endava Romania, Cameron US, SII Romania, ORTEC Central & Eastern Europe, FotoNation, Telus International, Veeam Software and Dell SecureWorks.

 

AFI Europe Romania is currently under development in the City Centre of Brasov Romania of AFI Brasov, which includes a 45,000 sqm GLA shopping mall and two office buildings of 25,000 sqm GLA.

In the office segment, AFI Romania is under development of AFI TECH PARK, a 56,000 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 in a central garden, the project being built as a high tech/campus style environment, 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.

 

In addition, AFI Europe Romania has two projects to be developed in the near future: a 80,000 sqm land plot in Arad where a retail park is to be developed anchored by a hypermarket and a DIY shop and the large scale residential project AFI City, to be developed on the 148,000 sqm land plot in Bucurestii Noi district 1 of Bucharest.