AFI EUROPE: New projects planned by the most dinamic local developer

AFI Europe Romania, part of the Africa Israel group, owned by the Israeli businessman Lev Leviev, and one of the most dinamic real estate investors in Romania, will concentrate its activity in 2014 on the office buildings segment after it mainly targeted the retail segment during last year. Thus, after the inauguration of AFI Palace Ploieşti, the second mall developed by the company in Romania and the first one outside Bucharest, AFI Europe will continue during this year the construction of the AFI Park office complex, which will have five buildings and a total rentable area of 70,000 sqm. The first building, AFI Park 1, was completed in September 2012 and is fully leased while the second one, namely AFI Park 2, will be launched in mid-April 2014 and is occupied entirely by the company Electronic Arts. The AFI Park 3 objective is under construction and will be completed at the end of this year. The building is already 40% leased to the British IT company Endava. Each building has a rentable area of about 12,200 sqm. The AFI Park project has become a major IT hub in Bucharest, due to the interest shown by IT&C multinational companies. This success gave to the developer the confidence to begin the construction of AFI Park 4 and 5 in the current year. The buildings will have a gross rentable area of 27,000 sqm. AFI Park is located next to the AFI Palace Cotroceni mall, a great advantage for employees from the office buildings. AFI Park is easily accessible through the public transportation system, due to the Politehnica subway station (located only 200 meters away from the project) and the 12 bus and tram lines. A new subway line is currently under construction (Drumul Taberei - Piaţa Universităţii - Pantelimon) and will provide an additional station, "Orizont", which will be located 200 meters from AFI Park. The fact that the objective is close to the Polytechnic University represents a boon for IT companies, which are close to students from the field.