AFI Europe Romania sees 12% increase in net operational income

Real estate developer AFI Europe Romania recorded a net operational income of EUR 13.6 million in the first quarter of this year, up 12% over the same period of last year. The company’s main asset, the AFI Cotroceni mall, generated a net operational income of over EUR 9 million, up 8% year-on-year. The average number of visitors at the mall reached 56,000 per day in the first quarter, a 13% increase over the same period of 2017. AFI Cotroceni retailers' sales increased as well by 6% compared to Q1 2017. The mall was valued last year at EUR 501 million. The group also owns a 34,000-sqm mall in Ploiesti, which is 99% occupied and will be expanded, and five office buildings in the AFI Park compound. The group is currently working on a mixed project in Brasov, which includes a mall and office buildings, to be completed in 2019, and an office project in Bucharest, AFI Tech Park. editor@romania-insider.com