AFI Europe Romania has announced the results it registered in Q4 and throughout the year last year, registering a net operating revenue of over EUR 40 M in 2015, an 8 percent year-on-year rise.
The AFI Palace Cotroceni mall in Bucharest, AFI Europe Romania’s largest and most important asset, registered a net operating revenue of almost EUR 8 M in Q4 of 2015, and around EUR 31 M in 2015, up by over 3 percent year-on-year.
AFI Palace Ploiesti’s net operating revenue surpassed EUR 4 M in 2015, up by 6 percent year-on-year.
“AFI Europe Romania closed Q4 and the whole 2015 with excellent operating and financial results, as shown by the 8 percent growth in the net operating revenue of our revenue-generating assets in Romania. With the completion of the AFI Park 4&5 office building, our portfolio has grown to a leasable surface area of 180,000 square metres. Likewise, we carried out two expansions for AFI Palace Cotroceni last year, and other developments are being planned in 2016 for the commercial centres in Cotroceni and Ploiesti. The very good financial results and Romania’s positive microeconomic data encourage us to start new projects, such as our new commercial centre (45,000 square metres) that will be developed in Brasov, and the office project (50,000 square metres) located on Bucharest’s Progresului Road, whose construction is planned to start this year,” AFI Europe Romania CEO David Hay stated.