Israeli developer AFI Europe makes over EUR 40 mln net revenues in Romania

Israeli real estate developer AFI Europe Romania posted a net operating revenue of over EUR 40 million last year, up by 8% compared to 2014. Over EUR 31 million came from the shopping center AFI Palace Cotroceni located in Bucharest, up by 3% compared to 2014, whereas the mall AFI Palace Ploiesti generated some EUR 4 million, up by 6% over 2014. The rest of the revenues came from the office buildings AFI owns next to the mall in Bucharest. The developer’s portfolio grew to 180,000 sqm after the company completed the AFI Park 4&5 office building. The developer plans to start a new 45,000 sqm shopping center in Brasov and a 50,000 sqm office project in Bucharest. The construction work on both projects should start this year. AFI Europe to develop new shopping center, office project in central Romania AFI Europe invests EUR 15 mln to expand shopping center in Bucharest editor@romania-insider.com