AFI Europe Romania, the subsidiary company of a leading real estate development and investment company AFI Europe, has announced that it has recorded a net operating income of 12,5 million EUR from its revenue generating assets in the second quarter of 2017. The company’s shopping centers achieved a successful performance both in terms of visitor numbers and turnover.
AFI Cotroceni, one of the leading retail complexes in Bucharest, recorded a 4 percent increase in the number of visitors, with an average daily footfall of 50,000 people. Furthermore, the mall also registered a 2 percent increase in retail sales.
The complex is undergoing extension works, which will expand its leasable area by an additional 6,500 sqm, bringing it to a total of nearly 90,000 sqm. The newly added commercial space will house a 5,200 sqm Peek & Cloppenburg store, which is scheduled to open this fall.
The company’s other major retail complex in Romania, AFI Ploiesti, also recorded a solid performance. Its retail sales rose by 19 percent in the second quarter of 2017, while the number of visitors amounted to more than 15,000 on a daily basis. At present, AFI Ploiesti has an occupancy rate of 99 percent.
AFI Europe Romania is currently constructing a new shopping center, AFI Brasov. The project encompasses over 45,000 sqm of leasable retail space, as well as 25,000 of Class A office space, which is already 80 percent pre-leased.
Its construction represents an investment of more than 120 million EUR and is expected to be completed either in late 2018 or during the first quarter of 2019.
By Retail SEE Group
August 25, 2017