AFI Europe is one of the leading real estate development, management and investment companies operating in Central and Eastern Europe since 1997. AFI Europe’s diversified portfolio consists of shopping malls and retail properties, business parks and large-scale residential and mixed-use developments. The group operates in Romania, Czech Republic, Poland, Bulgaria, Serbia and Latvia.
AFI Europe Romania is present locally since 2005 and is one of the largest developers on the local real estate market, its strong position being sustained mostly by large mixed-use projects. With every project built, the company pays great attention to the surrounding area development as well, triggering important positive economic and social changes.
In 2009, AFI Europe inaugurated its first project in Romania – AFI Cotroceni, one of the biggest shopping centers in the CEE region, offering a unique shopping experience combined with entertainment facilities. The mall spreads over a leasable area of close to 90.000 sqm GLA and offers its visitors a large entertainment area with multiple leisure options and a variety of over 300 shops of local and international brands, visited by 50.000 customers per day. AFI Ploiesti was the second shopping mall launched by AFI Europe Romania, in October 2013. The shopping mall offers a GLA of 34.000 sqm, occupied by 100 national and international brands and includes more than 7.000 sqm entertainment. In October 2020, AFI Europe opened AFI Brasov, a mixed-use project in the heart of Brasov city which includes 45.000 sqm GLA shopping centre with a green terrace overlooking to the mountains and an office building of 15.000 sqm GLA. The entire retail portfolio managed by the company is approximately 170.000 sqm GLA.
On the office segment, AFI Europe Romania owns and manages 7 office projects totaling of ~ 300.000 sqm GLA. AFI Park 1-5 was the first modern business campus built locally to have also a retail component – AFI Cotroceni, a project consisting of 5 Class A modern buildings (70.000 sqm), the first campus to receive LEED Gold certification. The second office campus developed in Romania is AFI TECH PARK, 70.000 sqm of GLA Class A Business Park located in close proximity to the J.W. Marriott hotel and the Romanian Parliament. The business park will comprise 3 office buildings with ample green areas in a central garden, the project being built as a high tech/campus-style environment, to answer the expanding needs of IT&C companies in Romania by offering a suitable space in terms of technical specifications accompanied by required expansion options. The first phase was delivered in 2018 and the second one will be delivered in Q3 2022.
Based on the international experience, but also on the know-how of the mother company, in 2018 AFI Europe Romania entered the local residential market. AFI City, the company’s first residential project in Romania was developed on the 148.000 sqm land plot in Bucurestii Noi (District 1 in Bucharest). The first phase comprising 190 apartments and 228 above-ground parking seats was delivered in Q2 2020. AFI City received Green Homes Certification from The Romanian Green Building Council. A commercial gallery of 4.500 sqm GLA is now under development at the project, in order to serve the inhabitants of AFI City and surroundings with all needed facilities (shops, gym, pharmacy etc.).
In 2020 AFI Europe Romania’s portfolio enriched with other 4 office projects (AFI PARK FLOREASCA, AFI LAKEVIEW, AFI VICTORIEI PLAZA, AFI PARK TIMISOARA) in the biggest office transaction on the market, valuing 280 Mil Euro. This positioned AFI Europe Romania as one of the main office owners in the country, managing 7 office projects and ~ 300.000 sqm GLA office spaces and ~ 170.000 sqm GLA retail spaces.
As a complementary safety and protection measure for the tenants, visitors, clients and business partners, in 2020 a performant air purification system was installed in all AFI Europe Romania buildings to protect them from viruses and ensure their wellbeing in all the buildings.
- Net Operational Income (31.12.2020) = 55.582.000 EUR
- Operating properties value (31.12.2020) = 1.231.780,000 EUR
- ~300.000 sqm GLA / office space
- ~ 170.000 sqm GLA / retail spaces
- 190 residential units delivered