AFI Europe aquired a 43,000 sqm land plot close to AFI Cotroceni mall for EUR 23 million

AFI Europe Romania has completed the acquisition of a land plot of approximately 43,000 sqm in the vicinity of the AFI Park office complex and the AFI Cotroceni mall through a transaction worth EUR 23 million.

“The acquisition will enable us to develop our projects in Bucharest, as part of our efforts to expand our operations in the office, retail and residential market. The first post-acquisition step will be to identify the best use of the land that we can build up to 100,000 mp, “said Doron Klein, CEO of AFI Europe Romania.

With about 56,000 daily visitors, AFI Cotroceni is considered to be the largest and most important mall in Romania, becoming the main entertainment and leisure center in Bucharest. The mall includes 350 stores.

AFI Park is one of the most modern business centers in Bucharest, with five Class A office buildings with a total area of 70,000 sqm connected to the AFI Cotroceni mall. The office complex facilitates an optimal business and living environment, a work environment that meets the modern lifestyle of its tenants, an affordable and energy-efficient location.

AFI Europe Romania was represented by Bianca Stamatoiu and the NNDKP Law Office in the process of acquiring this land at IMS Park Development.

At present, AFI Europe Romania develops in the center of Brasov the AFI Brasov project, which includes a shopping center with 45,000 sqm of leasable area and two office buildings with a leasable area of 25,000 sqm. In the office segment, AFI Romania is developing AFI Tech Park, a class A business park with a leasable area of 56,000 sqm, located near the J.W. Marriott and the Romanian Parliament.

The business park will include two low-rise office buildings and an office tower that will have green spaces arranged in a central garden, the project being a high-tech campus that meets the needs of expanding IT & C companies in Romania by offering space in terms of technical endowments and development possibilities.

Also, AFI Europe Romania will start in the near future the development of two more projects: one will consist of a retail park that will be built on a field of 80,000 sqm from Arad, whose anchor will be a hypermarket and a “DYI” store, and the second, AFI City, a large residential project, which will be developed on a 148,000 sqm plot of land in Bucurestii Noi (Sector 1 in Bucharest).