Israeli developer AFI Europe’s Romanian subsidiary plans to build 300 apartments on its 4.3-hectare land plot adjacent to the office project AFI Park and the AFI Cotroceni shopping mall, Economica.net reported.
“We have thought about developing about 300 apartments for rent near AFI Cotroceni and AFI Park. It will be a huge advantage for those who work in the offices, because they avoid traffic and can work, live and shop in the same place. I think this is good for future tenants, but also for the city,” said AFI Europe Romania CEO Doron Klein.
AFI Europe bought the plot last year for EUR 23 million from U.S. investment fund Broadhurst Investments, which had also sold it the land for the AFI Cotroceni and AFI Park projects.
The land belonged to the former UMEB factory, controlled by Broadhurst.
(Photo courtesy of the company)
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