BOG'ART to lead redevelopment of AFI Central Tower in downtown Bucharest

Real estate developer AFI Romania said that it appointed Romanian construction company BOG'ART as the general contractor for the redevelopment and modernization of AFI Central Tower, its landmark mixed-use project on Calea Victoriei in central Bucharest. The project will transform the former Bucharest Financial Plaza into a modern office and retail destination.

The redevelopment follows AFI's acquisition of Bucharest Financial Plaza, one of the capital's best-known office buildings.

Once completed, AFI Central Tower will offer approximately 28,100 square meters of leasable space, including 24,500 sqm of office space and around 3,600 sqm of ground-floor retail. The development will also include restaurants, retail units, a pharmacy, and other services intended for both tenants and the general public.

“AFI Central Tower represents far more than the transformation of an existing building - it reflects our long-term vision of developing mixed-use projects to the highest standards in unique urban locations,” said Doron Klein, Group Deputy CEO and CEO of AFI Romania. He added that the company selected BOG'ART because of its experience in delivering complex landmark developments.

Construction works are already underway and include a comprehensive reconfiguration of the building to meet current standards for performance, safety, and sustainability. According to AFI, the project is being developed with a focus on structural performance, energy efficiency, and adapting the property to the evolving needs of the office market. The company is targeting LEED Platinum certification for the redevelopment.

AFI said the project is part of its broader strategy to modernize mature office properties and reposition them as Class A mixed-use developments while supporting its environmental, social, and governance (ESG) objectives.

Part of the AFI Group, AFI Romania develops, manages, and owns office, retail, and residential properties totaling approximately 500,000 square meters across the country.

(Photo source: AFI Romania)