First phase of AFI Business Park Cotroceni to be delivered in summer of 2012

Newsroom 21/06/2011 | 11:05

The first phase of AFI Business Park will be delivered in summer 2012, The Advisers/ Knight Frank, the leasing agent for the project, have announced. It is located in the immediate vicinity of AFI Palace Cotroceni Mall.

The park will have 70,000 sqm of Class A office space. AFI Business 1 is the first out of five Class A office buildings, planned to be developed in the next five years by AFI Europe Romania, part of AFI Group. Construction of the first building has already begun this year and will be completed in July2012. The building will provide 11,000 sqm GLA, divided on ten floors. The first phase comes with 173 underground parking places for the employees, while the clients and visitors can use the mall’s parking lot, which offers 2, 500 parking places. The Mall will support the tenants of the business park with three bank branches, 15 fast food restaurants, six coffee shops, three full menu restaurants, a 2,000 sqm gym and a hypermarket that is open 24 hours a day. The Class A office building will be equipped with 6 elevators and an advanced central control system.

In terms of rent level, the headline rent for Class A office space in the area reaches an average of EUR 14-15 persqm, depending on the surface and the facilities offered. The monthly service charge for the class A office space in the area is in between EUR 3.5 to EUR 4.5 per sqm.

AFI Europe, a member of AFI Group has been active in development and investment across Central and Eastern Europe since 1997. The company is currently developing and managing diverse commercial and residential real estate projects in the Czech Republic, Serbia, Romania, Bulgaria, Germany, Latvia and Poland.

The company’s existing and planned commercial centers in Romania are AFI Palace Cotroceni, AFI Palace Arad, AFI Palace Ploiesti and AFI Palace Bucurestii Noi.

 

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