AFI Europe Romania commences the leasing campaign in the office project AFI Park Brasov

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The company is in advanced negotiations for the leasing of the first 4,000 sqm in the first office building

 

In less than two months since setting the cornerstone of the AFI Brasov project, real estate developer AFI Europe Romania has announced the start of the leasing campaign in the AFI Park Brasov Class A office project. The company is already in advanced discussions with two potential tenants totaling 4,000 sqm GLA to occupy the first office tower developed in AFI Park Brasov.

The mixed-use project that AFI Europe Romania is building in the city center includes AFI Brasov Shopping Center, with a total gross leasable area of 45,000 sqm GLA and the AFI Park Brasov office project, which comprises of two Class A office towers totaling 25,000 sqm GLA.

AFI Park Brasov will be integrated into the shopping center, designed to hold a LEED Gold Certification for Green Building.

„Technology and telecommunication companies remain the most active office occupiers outside Bucharest, with 75% of the gross take-up recorded within the first half of the year. This makes us very confident that AFI Park Brasov will be the next business spot in the heart of the city, especially for potential tenants from the IT&C, BPO’s and banking sectors. The ultra-city center location of the complex enables to the office tenants and employees the most convenient and the perfect combination between business and personal lifestyle by offering Class A offices on top of a shopping mall in the City Center”, said David Hay, CEO AFI Europe Romania.

The site’s location, part of the main circulation square of the city (a wide 5 lane boulevard), is considered as the new business district of Brasov and the absolute best location for future office & retail development in the city. The connection with the main boulevard leading from the Old City (the main tourist and local attraction) to all parts of the city and the exit towards Bucharest, the access to public transportation and bus stops situated in front of the building, make AFI Park Brasov the most accessible office location in the city.

AFI Park Brasov is the third office project that AFI Europe is developing in Romania, having developed the 70,000 sqm GLA AFI Park which is 100% occupied and AFI Tech Park business campus, the 56,000 sqm GLA Class A offices in the Center-West side of Bucharest which is currently under construction.

 

About AFI Properties:

 

AFI Properties is a member of the AFI Group, an international holdings and investments conglomerate with subsidiaries that engage in real estate, construction, infrastructure, industry and hotels (www.afigroup-global.com).

The company is active in the income producing and development property market since 1971. AFI Properties has been listed on the Tel-Aviv stock exchange in 2004. The company has been active in Europe since 1997 through its subsidiary AFI Europe mainly in the CEE markets. AFI Properties is ranked “BBB+ positive” by S&P and “A3 stable” by Midroog (a subsidiary of Moody’s).

 

About AFI Europe:

 

AFI Europe, a subsidiary of AFI Properties, is one of the leading real estate development, management and investment companies, which is operating in Central and Eastern Europe since 1997.

AFI Europe’s diversified portfolio consists of shopping malls and retail properties, business parks and large-scale residential and mixed-use developments. AFI Europe operates in Romania, Czech Republic, Poland, Germany, Bulgaria, Serbia, Hungary and Latvia.

 

About AFI Europe Romania:

 

AFI Europe operates in Romania since 2005. The company has developed and is managing “AFI Cotroceni”, the largest and most dominant shopping mall in Romania and among the leading shopping malls in the CEE region. The mall spreads over a leasable area of close to 90,000 sqm (GLA) and offers to its visitors a large entertainment area with multiple leisure options and a variety of over 300 shops of local and international brands, visited by 50,000 customers per day.

In October 2013, AFI Europe inaugurated AFI Ploiesti, the first and only modern shopping mall developed in the city centre of Ploiesti, following an investment of over EUR 50 million. The shopping mall offers a total gross leasable area (GLA) of 34,000 square meters spreading over two retail floors occupied by 100 national and international brands, including more than 7,000 sqm of entertainment.

Adjacent but fully integrated into AFI Cotroceni shopping mall, AFI Europe Romania has developed AFI Park, Bucharest’s newest and most advanced Class A Business Park. AFI Park offers 70,000 of office leasable area occupied by multinational IT&C corporations. AFI Park 1-5 are close to 100% leased. AFI Park line-up of multinational tenants includes: Microchip Technology, Electronic Arts, Endava Romania, Cameron US, SII Romania, ORTEC Central & Eastern Europe, FotoNation, Telus International, Veeam Software and Dell SecureWorks.

In the office segment, AFI Romania is under development of AFI TECH PARK, a 56,000 sqm of GLA Class A Business Park located in close proximity to the J.W. Marriott hotel and the Romanian Parliament. The business park will comprise of 2 low rise office buildings and one office tower, with ample green areas in a central garden, the project being built as a high tech/campus style environment, to answer the expanding needs of IT&C companies in Romania by offering a suitable space in terms of technical specifications accompanied by required expansion options.

In addition, AFI Europe Romania has two projects to be developed in the near future: a 80,000 sqm land plot in Arad where a retail park is to be developed anchored by a hypermarket and a DIY shop and the large scale residential project AFI City, to be developed on the 148,000 sqm land plot in Bucurestii Noi district 1 of Bucharest.