AFI Retailers Registered Sales Of EUR95.5M In 1H

Retailers hosted by AFI Cotroceni Bucharest registered sales of EUR95.5 million in the first half of the year, up 4.1%, while revenues from rents increased 7.6%, to EUR14.1 million.

Expressed in lei, sales of retailers in AFI Cotroceni increased 4.24% in the first half of 2013.

The mall was visited daily by 52,000 people and had a total 9.5 million visitors in the first half of the year.
“AFI Europe continues its strategy to develop a strong cash flow. In the next period, the company’s efforts will focus on completing three projects – the AFI Ploiesti shopping center and two class A office buildings, AFI Park 2 and AFI Park 3, near the mall in Cotroceni,” developer AFI Properties said in a statement Wednesday.

AFI  Ploiesti is currently in the last stages of construction and is set to open on October 3, 2013. The shopping center is 90% leased already and the occupancy rate is estimated to reach 100% be the opening date.

On the office segment, AFI Europe Romania completed AFI Park 1 last year, the first office building part of the business park in Cotroceni. The first office building in the compound has been rented to companies such as Endava, Microchip technologies. The comapnmy has started works on a second and third office buildings, to be completed in the first quarter of 2014 and October 2014, respectively.

AFI Properties, member of AFI Group, has been operating on the real estate market since 1971 and was listed at the Tel-Aviv stock exchange in 2004. The company has been active in Europe since 1997 through its AFI Europe subsidiary.

AFI  Cotroceni, owned by AFI Europe, has a lettable area of 80,000 square meters and was opened in November 2009, following an investment of over EUR300 million. AFI Europe develops and manages several commercial and residential projects in Romania, Czech Republic, Serbia, Poland, Bulgaria, Germany, and Latvia.