AFI Europe Romania ups operating income by 11%

Israeli group AFI Europe Romania recorded a net operating income of EUR 25 million in the first six months of this year, up 11.5% over the same period last year.

The company owns the AFI malls in Bucharest and Ploiesti and five office buildings in Bucharest.

The AFI Palace Cotroceni shopping center in Bucharest saw a 4% average increase in the number of visitors in the second quarter, up to an average of 50,000 people per day. The stores’ sales rose by 2% year-on-year in AFI Cotroceni.

Peek & Cloppenburg (P&C) plans to open a store of 5,200 sqm in AFI Cotroceni, as part of a larger expansion process. The mall will get an additional leasable area of 6,500 sqm.

The retailers in AFI Ploiesti increased their sales by 16% in the first six months of the year compared to the same period last year. The average number of visitors reached 15,000 per day.

The developer is now in the process of building a new mall in Brasov. The shopping center will have a total rentable area of 45,000 sqm.

The Israeli group has also advanced with the work on the office segment. The first stage of the AFI Tech Park project in Bucharest will be delivered in the second quarter of next year.

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