March 14, 2016
Shopping mall AFI Cotroceni in Bucharest, the most important asset of AFI Europe Romania, had a net operating income of nearly EUR31 million in 2015, up 3% on the year, while retailers’ sales, excluding hypermarket sales, rose 8% on the year in 2015.
The company said in a statement that AFI Cotroceni had a net operating income of nearly EUR8 million in the fourth quarter of 2015, and of nearly EUR31 million in 2015, over 3% higher than in the previous year.
Sales of retailers in AFI Cotroceni (turnover), excluding hypermarket sales, increased by 9.3% in the fourth quarter of 2015 and by 8% on the year in 2015.
The net operating income of AFI Ploiesti exceed EUR4 million in 2015, over 6% higher compared to the same period in 2014.
Sales of retailers in AFI Ploiesti increased significantly in 2015, by 24% in the fourth quarter of 2015 and by 23% for the whole of last year, compared to 2014. AFI Ploiesti’s current occupancy rate exceeds 99%.
David Hay, CEO AFI Europe Romania, said the completion of office building AFI Park 4&5 boosted the company’s portfolio to 180,000 lettable square meters. Hay also said the good financial results and Romania’s positive figures at microeconomic level encourages the company to start new projects, such as a new shopping mall (45,000 sqm) to be developed in central city of Brasov and an office building project (50,000 sqm) in Bucharest, whose construction is expected to start in 2016.
AFI Properties, the parent company of AFI Europe, reported a profit of EUR50 million and a net operating income of EUR81 million.