AFI Europe Romania gains 12.7 pct in net operational income to over EUR 12 mln in Q1

AFI Europe Romania recorded a net operational income of EUR 12.2 million in the first quarter of this year, up 12.7 percent compared to the same period of last year on the back of growing businesses in the retail and office segments.

Commercial center AFI Cotroceni recorded a 2.4 percent increase of its operational income to EUR 8.3 million in the first quarter. The gross leasable area of the center will be expanded by 6,500 square meters close to 90,000 sqm. The retailers in AFI Cotroceni saw their sales reach close to EUR 54 million, while the number of visitors averaged at 50,000 per day.

Meanwhile, the retailers in AFI Ploiesti saw their sales go up by 12 percent in Q1, while the number of visitors in the center gained 7 percent. The operational income of the shopping center reached EUR 1.2 million.

Office project AFI Park, which has a gross leasable area of 70,000 sqm is almost fully occupied.

David Hay, the CEP of AFI Europe Romania, said that the company is working on AFI Brasov, the 60,000 sqm project that includes a commercial center and an office component, AFI Tech Park, the 56,000 sqm office project in Bucharest and its first residential project AFI City.

AFI Properties, the parent of AFI Europe, registered a 2.5 percent increase of its net operational income to EUR 21 million.

The assets of AFI Properties reached EUR 1.75 billion. The company has 450,000 sqm of commercial spaces and has another 120,000 sqm under development. In Romania, AFI has 80,000 sqm under construction.