AFI Europe Romania adds to the company’s assets two land plots worth 12 million Euro, for its first Residential for rent (BtR) project.
The two land plots have an approximated surface of 10,200 sqm, positioned in Dimitrie Pompeiu Blvd. and Pipera Road, Northern part of Bucharest, considered one of the most dynamic areas in Romania’s capital city.
The lands acquired from Impetum Investments, the investment division of Impetum Group, in total value of 12 million Euros, previously obtained all needed Building Permits for the construction of approximately 450 apartments, collocated in three distinctive buildings.
Ready to be developed, AFI Europe plans to built on its newly acquired land plots its’ first BtR project (Built to Rent), business segment the company is already developing in other countries in the region under the “AFI Home” brand.
“This transaction is fully in line with our strategy to further diversify our portfolio in Romania, by increasing our Residential component. We have a vast experience in developing Residential projects at modern standards, both here, in Romania, and other European countries (Czech Republic, Poland, Serbia and more). As we all notice, the demand for new homes is definitely keeping its’ increased trend, a perfect ground to consider and act towards the development of a new business segment. We believe the Residential for Rent (BtR) type of project will attract young individuals and families in search of more mobility and flexibility when (it comes to) selecting a place to live in, choosing wisely the landlord able to provide, in the same place, a set of distinguishable and attractive services to its tenants“, said Doron Klein, CEO AFI Europe Romania and Czech Republic.