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AFI Europe sets the cornerstone of AFI Brasov, the company’s third shopping Mall in Romania

 AFI Europe sets the cornerstone of AFI Brasov, the company’s third shopping Mall in Romania

The already assigned spaces exceed 80%; the project will generate about 2,000 new jobs 

 

Brasov, September 12th, 2017: AFI Europe sets the cornerstone of AFI Brasov, the company’s third shopping mall in Romania and announces the advancement of construction works. AFI Brasov shopping mall includes 200 shops and retail units while the assigned spaces already exceed 80%. The first stage of construction includes a shopping center with a total gross leasable area of 45,000 sqm (160,000 GBA) and one of the two Class A office towers that stretch over an area of 25,000 sqm GLA. The investment at this stage is of over EUR 120 million. The company estimates that the delivery date of the project is the first quarter of 2019.

 

The French retailer Carrefour was the first anchor of the shopping center with an area of 6,500 sqm. AFI Brasov shopping center will enjoy a very attractive mix of tenants. Inditex Group will bring to AFI Brasov on an area of 7,000 sqm its main brands such as Zara, Bershka, Stradivarius, Pull and Bear, Oysho and Zara Home.

Other top international brands as Sephora, Tommy Hilfiger, Swarovski, Teilor, Kultho, Meli Melo, Optiplaza, Lee Cooper, Kenvelo, Tom Tailor, Intersport, Carturesti, MAC will offer a very special shopping experience to its visitors.

The new investment will create over 2,000 jobs and aims to become the new city center of interest and the preferred destination for shoppers, tourists, the business community and multinational IT&C companies.

In our vision, the role of a company goes beyond the boundaries of business, and any success must also be a success of the community. That is why this symbolic moment representing the cornerstone of our first project in Brasov marks our goal to become the main point of interest of the city, both for the inhabitants and for the local and international business community. Large variety of fashion brands, perfect location, accessibility, leisure and entertainment facilities are the perfect mix for setting new trends and giving visitors a new modern shopping experience,” said David Hay, CEO of AFI Europe Romania.

A large area with entertainment facilities, service shops and a unique interactive zone with a new style of food court concept will set new trends and complete the shopping experience for the people living in Brasov and for those who visit this beautiful touristic destination.

The new shopping center will provide its guests with over 1,700 parking spaces and will have a 3,500 square meter green terrace, a cinema area with 10 VIP rooms, a 600 square meter casino, 1,200 square meters of entertainment, playgrounds and other attractions for children, restaurants and coffee shops.

AFI Brasov is the third AFI Europe commercial center developed in Romania, after AFI Cotroceni, the biggest mall in Romania (90,000 sqm GLA) and AFI Ploiesti (34,000 sqm GLA).

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, in order 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.