AFI Europe Romania ups revenues by 10%

Real estate developer AFI Europe Romania recorded a net operating income of over EUR 37 million in the first nine months of this year, up 10.4% over the same period last year. The value of revenue-generating assets AFI Cotroceni and AFI Ploiesti shopping malls, as well as the five office buildings of the AFI Park project amounted to EUR 735 million during this period, up 7.5% year-on-year. The number of visitors to AFI Cotroceni remained constant at about 50,000 per day. Retailers’ sales in AFI Cotroceni rose by 3% to RON 770 million (EUR 165.4 million) in the first nine months of this year. The value of AFI Cotroceni reached EUR 501 million at the end of September, up over 7% compared to September 2016. Retailers’ sales in AFI Ploiesti amounted to RON 200 million (EUR 43 million), up 18% year-on-year. The AFI Park office project has an estimated annual revenue of EUR 13 million. The value of the five office buildings is close to EUR 165 million, according to estimates made at the end of September. editor@romania-insider.com