Afi Europe gets EUR 13.4 million loan for the AFI Business Park Cotroceni project

Real estate investment and development company Afi Europe has signed a loan contract worth EUR 13.4 million with UniCredit Bank Austria to finance the construction of the first office building from the AFI Business Park Cotroceni project.

The project will comprise five class A office buildings with the first set to be delivered August 1.

AFI Business Park Cotroceni is located at the crossroads of Timisoara and Vasile Milea Boulevards. The project will have a total leasable surface of about 70,000 sqm and it will be connected to the AFI Cotroceni commercial center. Afi Europe representatives have previously announced in July 2011, that the company plans to begin a new building from the project each year.

AFI Europe Romania hopes to start work this year on the AFI Palace Ploiesti shopping mall and a second mall in Arad. Other projects include AFI Palace B.Noi, which will be a mall in the Bucurestii Noi neighborhood of Bucharest, and another business park on the grounds of the former Inox factory, also in the capital.

Simona Bazavan

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