AFI Europe invests EUR 15 mln to expand shopping center in Bucharest

Real estate developer AFI Europe Romania will invest EUR 14-15 million in expanding the AFI Palace Cotroceni shopping center by some 8,000 sqm. It will enlarge the mall’s entertainment area by 1,000 sqm, and it will add some 7,000 sqm new retail space. The mall will also increase its parking lot to improve the traffic flow. The expansion process will kick off at the end of this year and will be due in the second half of the next year, reports local Ziarul Financiar. The shopping center will cover a 90,000 sqm area, following the two expansions. AFI Europe recently completed a 1,000 sqm expansion of the mall, to 82,000 sqm of gross leasable area. The AFI Palace Cotroceni mall opened in 2009. Its retailers generate annual sales of over EUR 200 million. editor@romania-insider.com