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AFI Brasov Mall begins the construction with 80 per cent assigned spaces

AFI Romania announced that the leasing campaign in AFI Brasov has advanced and has already assigned 80% of the spaces, a press release informs.

2017-08-10 19:19:25

AFI Brasov has recently obtained the construction permit and will be the third shopping center AFI Romania is developing in Romania. The shopping center will offer a total gross leasable area of 45,000 sqm (160,000 GBA) that will be combined with additional 2 "Class A" office towers totalling 25,000 sqm GLA. The overall investment for the mall and first office building is estimated to be over Euro 120 million.

The entire project is developed to be LEED Gold certified as "green" building. Construction of the new project has started at the beginning of this year and according to the company the opening date is estimated to be either at the end of 2018 or during the first quarter of 2019, depending on the pace of works.

"AFI Brasov represents a milestone in the company's development strategy. We want to offer the City of Brasov and its inhabitants, but also to those who visit this beautiful tourist destination, the biggest and most modern shopping center, located in the heart of the city. We are convinced that once finalized, the project will become the new city center of Brasov and offering a great shopping experience. The perfect location, the connection of the main boulevard with all parts of the city and the exit towards Bucharest along with the access to public transportation makes this project an excellent mix for shopping, entertainment and leisure, which at the same time can answer the requirements of the local business and IT&C community," says David Hay, CEO AFI Europe Romania.

"The project will add about 2,000 new jobs to the city's economy in addition to the new Class A office buildings that will be attractive to host multinational IT&C companies", added Hay.

The mall will have two main entrances, one from the main boulevard of the city (15 November Ave.) and a second entrance from the South part of the city, while the overall surface will be split on three levels. Parking access from each street will lead into a 1,700 parking places on -1 level and additional multi parking decks with 3 accesses.Located in the heart of the city center, AFI Brasov is creating the new trend of being more than a shopping mall.

Anchored by Carrefour gourmet on a 6,500 sqm area, the new concept will combine top international fashion brands, advanced and unique interactive zone with a new style of food court concept hosting 12 different types of restaurants and fast food outlets. The cinema with the 10 VIP halls concept, 600 sqm casino, 1,200 sqm entertainment and bowling, playground and a large variety of kids' attractions, restaurants and coffee shops will become a leisure destination for the shoppers of the mall.

A green area of 3,500 sqm, viewing the outstanding beauty of the Carpathian Mountains, which will host a 3,500 sqm green terrace, outdoor playground and relaxing zones, coffee shops and restaurants, will offer visitors a new experience of modern and quality shopping. AFI Brasov is the third shopping center AFI Europe developed in Romania, after AFI Cotroceni (90.000 sqm GLA) in Bucharest and AFI Ploiesti (34,000 sqm GLA).

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.

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 Palace 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 98% leased. In April 2016 AFI Europe Romania has completed AFI Park 4&5 office building offering additional 32,000 sqm of gross leasable area to the total project. 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.
AFI Europe Romania is currently under development in the City Centre of Brasov Romania of AFI Brasov, which includes a 45,000 sqm GLA shopping mall and 25,000 sqm GLA office project.

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, a high tech/campus style environment in an urban complex with a central plaza & gardens. AFI TECH PARK manages 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. The fact that the Business Park is located in Downtown Bucharest and not in City Outskirts provides the Park the unique advantage sought after by multinational companies in Romania.

In addition, AFI Europe Romania has two projects to be developed in the near future on the company's 80,000 sqm land plot in Arad where a Retail park is to be developed 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.

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