Bucharest, December 7, 2017
AFI Europe Romania concluded a new lease agreement for AFI Tech Park Business Campus. The new tenant is LS Travel with their concept store “1 Minute”, who leased a space located on the Ground Floor of AFI Tech Park 1. This is the second tenant secured for AFI Tech Park, after World Class, who signed a 10 year lease agreement for 1,500 sqm GLA on the Ground Floor and the 1st floor of AFI Tech Park 1.
1 Minute is a fresh food convenience store concept, part of the French group Lagardère Travel Retail. The store will offer to its customers products prepared in its own locations (sandwiches, salads and pastries), but also complementary products – coffee, soft drinks, sweets, newspapers and tobacco. With the new store in AFI Tech Park, 1 Minute will reach to 30 units in Romania.
A unique service AFI is providing to the tenants in Tech Park is a 400 sqm conference hall to be shared by the tenants in the park. This allows the tenants to avoid the necessity to have such large halls within their space throughout the term of the lease. Together with the surrounding retail facilities (Vulcan Retail Park, Liberty mall), the office project is bringing additional benefits such as: “AFI Club” membership offering discounts for lunch and other services, and also the first car sharing service in Bucharest
Construction works for AFI Tech Park 1, the first phase of the complex, are advancing on schedule, currently having completed the skeleton structure. The first office building, consisting of 22,000 sqm GLA spread over 8 above ground floors, will open in Q2 2018, offering both office space and retail area (World Class gym, canteen and coffee shops). The investment for this stage of the project is of over EUR 30 million.
The entire AFI Tech Park project will offer 56,000 sqm GLA of Class A offices, comprising of two office buildings with GF+8 and one office tower of 14 floors, all surrounded by over 5,000 sqm of green areas.
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, 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.