Five New Tenants Bring AFI Park 1’s Occupancy Rate To 85%

AFI Park 1, the first office building finished by Israeli developer AFI Europe in Bucharest, has reached an 85% occupancy rate, after five new leasing contracts were signed.

Endava, one of the main tenants of the building, expanded its existing offices by 600 square meters to 3,000 sqm, while three other companies from the IT industry leased a total of 2,350 sqm.

On the ground floor of the building, Leumi Bank is opening a business to business commercial branch, AFI Europe said in a news release. Danya Cebus Rom, the construction company that built both the AFI Park 1 and the AFI Cotroceni shopping center nearby, will relocate its headquarters to new office building.

“The confidence showed by our tenants and the success in occupying AFI Park 1 convinced us to commence with the construction of AFI Park 2 (a 12,000 sqm office building) which will be completed in the first quarter of 2014”, said David Hay, CEO AFI Europe Romania.

AFI Park, which is planned to include five office buildings with a total leasable area of 70,000 sqm, is developed near AFI Cotroceni, the largest shopping mall in Bucharest. AFI Europe, which is the developer of both projects, is also working on three other retail developments, in Ploiesti, Arad and Bucharest.