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AFI Europe Romania posts net operating income of over 37 million Euro in the first nine months

AFI Europe Romania published its financial results, with the net operating income from its income producing assets in Romania of over 37 million Euro in the first nine months of the year, 10.4 per cent higher results compared to the same period in 2016.

2017-11-24 12:26:33

The value of the existing income producing assets AFI Cotroceni, AFI Ploiesti and the five office buildings of AFI Park increased by 7.5 per cent to 735 million Euro according to the valuation performed as of September 30, 2017.

AFI Cotroceni was valued on September 30 at 501 million Euro increased by more than seven per cent.

AFI Europe Romania is currently preparing to launch its first residential project in Romania: AFI City, located in Bucurestii Noi. As phase I, two residential buildings consisting of 190 apartments, 16,000 sqm of built up area are planned to be developed.

"The favorable economic context and the continuous development of key sectors such as IT&C make Romania a very attractive destination for AFI's real estate investments," said David Hay, CEO AFI Europe Romania. "Our portfolio value in Romania increased by 7.5 per cent and reached 735 million Euro from existing assets and we have three diversified ongoing projects under construction the AFI Brasov mall & offices, AFI Tech Park offices and AFI City Residential complex. We continue to maintain our interest for new opportunities, whether developments of new shopping centers or office projects."



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