AFI Park 1 becomes the First Office Building in Romania to Obtain the LEED Gold Core & Shell Certification

Bucharest, August 6th, 2014 – AFI Park 1, the first of five office buildings developed by AFI Europe in Bucharest, has recently achieved the LEED Gold certification under the LEED for Core & Shell Rating System – the first such qualification obtained by an office building in Romania. Colliers International advised AFI Europe in the certification process.

LEED certification identifies AFI Park 1 as a showcase example of sustainable design and demonstrates AFI Europe’s leadership in transforming the building industry. Previously, AFI Europe obtained the green pre-certification of AFI Park 2 (LEED Gold pre-certification level) and started the green certification for AFI Park 3. Colliers International advises AFI Europe in the green certification for all first three office buildings of the business complex AFI Park, as well as for AFI Ploiesti.

“Achieving LEED Gold certification for our first office building in AFI Park, shows our continuous commitment to develop projects with the highest level of technical specifications in our tenants’ interest. AFI Park managed to become Bucharest’s Multinational Hub, due to its sustainability, accessibility and by providing solutions for tenants’ expansion requirements. Going green is our objective and we are always taking it into consideration when starting the process of developing any new building. It’s a time when you have to get involved in improving the environment“, said David Hay, CEO AFI Europe Romania.

“The green certification of AFI Park 1 is an essential milestone for the real estate market, for two reasons: First, this is the first office building in Romania to obtain such a high credential under the LEED Core & Shell rating system. Second the building was designed and built in a sustainable manner already from the drawing stage. AFI Europe sets a positive example for the local market and we are proud to be part of the company’s efforts to promote green sustainable building in Romania”, comments Oana Stamatin, LEED AP BD+C within the Real Estate Management Services team of Colliers International Romania.

In its completed state, AFI Park will consist of 5 Class A office buildings with a total leasable area of 65,000 sqm, forming one of the largest, most modern and highly technologized office parks in Bucharest, Romania. The project is adjacent to AFI Cotroceni shopping mall in Bucharest – next to the Politechnica University and Metro station.

AFI Park 1 was inaugurated in September 2012, having a gross built area of 13,700 sqm, 2 underground parking levels and a gross leasable area of 12.250 m2 with 100% occupancy. The building hosts leading multinational companies such as Endava, Microchip, SparkWare Technologies, and Cameron.

The second office building, AFI Park 2 – which was awarded as the largest prelease agreement of 2013, after Electronic Arts took the entire leasable office area of the building (11,700 m2) – was finalized in April 2014. AFI Park 3 started construction works in Q3 2013 and will be delivered on the market in Q4 2014. The remaining two office buildings, AFI Park 4&5, will be completed in one phase in Q4 2015, giving the possibility for tenants to grow and expand within the Park.

For all of its first 3 office buildings and for AFI Ploiesti, AFI Europe is targeting LEED Gold certification.

Colliers International is one of the first real estate companies in Romania with accreditied professionals to offer green certification advisory services, following the launch of its dedicated service in 2011. Colliers offers consultancy for LEED and BREEAM certifications for existing buildings, with the purpose of improving their performance and sustainability, as well as for new developments. Presently Colliers assists 16 projects in Romania and more than 25 projects across other CEE countries in obtaining the Green Certification.

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Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.

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AFI Europe Romania

AFI Europe 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 more than 80,000 sqm 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 55,000 customers per day.

On October 3rd, 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 more than 65,000 of office leasable area, currently targeted by multinational IT&C corporations. The first building, AFI Park 1, with 12,250 sqm of gross leasable area, has been completed on September 1st, 2012 and is 100% leased. On April 15, 2014 AFI Europe inaugurated AFI Park 2 with 12,200 sqm of GLA and has been fully leased to electronic Arts, while AFI Park 3 which is due to be delivered in December 2014 is 40% pre-leased to Endava Romania. In April 2014 AFI Europe Romania has also commenced construction of AFI Park 4 & 5 office building that will offer additional 33,000 sqm of gross leasable area to the project and is planned to be delivered in Q4 2015.

In addition, AFI Europe Romania has two retail projects to be developed in the near future, “AFI Arad”, a 30,000 sqm GLA retail park to be developed in the city centre of Arad, on a land plot of 80,000 sqm and “AFI B.Noi”, a 36,000 sqm GLA Shopping Mall to be developed in Bucurestii Noi district 1 of Bucharest.

In the office segment, AFI will develop AFI Business Park Bucharest, 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 in Bucharest’s district 5. 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.