Retailers in AFI Palace Cotroceni post EUR 164 million in yearly sales

The retailers in the AFI Palace Cotroceni shopping center cashed in EUR 164 million in total sales last year, according to Mediafax newswire. “We are very happy with the shopping center performance, and after a year of activity we can say it is a stabilized shopping center. Normally, given these market conditions, it would take two to three years for a shopping center to stabilize," said Israel Visel, the manager of AFI Palace Cotroceni. 33 retailers out of 280 have been replaced in the shopping center during the first year of activity, said Visel. The shopping center was opened in November 2009 and had an average traffic of 50,000 people a day during week days and around 80,000 during the week-end. Swedish clothing retailer H&M is expected to open a store in AFI Palace Cotroceni in March this year. The shopping center owners plan to invest EUR 150 million in the next two years in offices and retail. AFI Europe, the developers of the project, have invested EUR 300 million in opening the mall. editor@romania-insider.com