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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Revenues of Romania’s biggest shopping mall drop by 27% in 2020

The revenues of Romania’s biggest shopping mall, AFI Cotroceni (88,500 sqm leasable area), declined by 27% YoY to RON 146 mln (EUR 31 mln), from RON 200 mln in the year before, Economica.net reported.

The company that operates the mall, Cotroceni Park, reported RON 100 mln (over EUR 20 mln) losses, four times compared to 2019.

The two-month lockdown last spring followed by restrictions over the coming months pushed down its revenues - mainly rents paid by its tenants.

In turn, the tenants saw their business shrinking even after the lockdown - as the mobility restrictions remained in place and the office building in the AFI mixed-use complex remained empty.

To address the challenges, AFI Cotroceni attracted last year more tenants that operate on the mass-market segment: Flanco, Nike, Styland, Colin’s, my Geisha, PUPA Milano, CUPIO, I’MOD Flowers, Leonidas, and Sokolov.

(Photo courtesy of the company)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Revenues of Romania’s biggest shopping mall drop by 27% in 2020

The revenues of Romania’s biggest shopping mall, AFI Cotroceni (88,500 sqm leasable area), declined by 27% YoY to RON 146 mln (EUR 31 mln), from RON 200 mln in the year before, Economica.net reported.

The company that operates the mall, Cotroceni Park, reported RON 100 mln (over EUR 20 mln) losses, four times compared to 2019.

The two-month lockdown last spring followed by restrictions over the coming months pushed down its revenues - mainly rents paid by its tenants.

In turn, the tenants saw their business shrinking even after the lockdown - as the mobility restrictions remained in place and the office building in the AFI mixed-use complex remained empty.

To address the challenges, AFI Cotroceni attracted last year more tenants that operate on the mass-market segment: Flanco, Nike, Styland, Colin’s, my Geisha, PUPA Milano, CUPIO, I’MOD Flowers, Leonidas, and Sokolov.

(Photo courtesy of the company)

andrei@romania-insider.com

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