AFI Europe (www.afi-europe.eu) who is a subsidiary of Africa Israel Properties operates in Romania since 2005. The company has developed and is managing “AFI 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 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. The mall is visited by 50,000 customers per day.
In October 2013, AFI Europe Romania inaugurated AFI Ploiesti, the first and only modern shopping mall developed in the city center of Ploiesti, following an investment of over EUR 50 million. The shopping mall offers a total gross leasable area of 34,000 sqm spreading over two retail floors occupied by 100 national and international brands, including more than 7,000 sqm of entertainment.
NOI 2016: EUR 46.5 million
NOI Q1 2017: EUR 12.2 million
Assets under management: 200.000 sqm GLA
Assets under development: 82.000 sqm GLA
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 sqm GLA of office space occupied by multinational IT&C corporations. AFI Park is currently 98% leased. AFI Park tenant lineup includes: Electronic Arts, Microchip Technology, TELUS International, Endava Romania, Asentinel, Cameron US, BullGuard, SII Romania, ORTEC Central & Eastern Europe, FotoNation, Veeam Software, Dell SecureWorks, Hexaware Technologies.
AFI Europe Romania is currently developing „AFI Brasov” a Mixed–Use project that includes a 45,000 sqm GLA Shopping Mall and “AFI Park Brasov” Class A office Project a 25,000 sqm GLA office project.
In the office segment, AFI will develop AFI TECH PARK, a 56,000 sqm 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.
AFI Europe Romania is planning to develop phase 1 of AFI City, a large scale residential project to be developed in Sector 1 of Bucharest, Romania.
The Mix Use Project is located in Bucurestii Noi, in the North West part of Bucharest, District 1, along Bucurestii Noi Boulevard. The project will include approximately 2,000 residential apartments and a commercial centre.
Currently as phase I, 2 residential buildings consisting of 190 apartments, 16,000 sqm of built up area are planned to be developed.
In addition, AFI Europe Romania will develop AFI Arad Retail Park will be 34,000 sqm GLA Retail Park to be developed in the city center of Arad, on a land plot of 80,000 sqm, creating an inner city retail park, including a hypermarket of approx. 10,000 sqm and additional retail boxes of approx. 1,000 – 2,000 sqm each including fashion, sport and electronics anchors.