AFI Europe Romania to receive 22 million Euro development loan for AFI Tech Park phase 1

AFI Europe Romania has signed a financing agreement of 22 million Euro with Bank Leumi Romania for the development of phase 1 of AFI Tech Park, the newest business park the company is currently developing in Bucharest.

2017-12-20 16:42:09

AFI Tech Park is a 56,000 sqm GLA of Class A offices, developed in 3 phases and targeting companies from the FMCG, Automotive, IT&C, BPO and shared services markets, seeking to upgrade their facilities to a new Class A offices. The first phase of the project will be delivered in Q2 2018, offering 20,000 sqm GLA office space and 2,000 sqm of retail area, including the already signed tenants World Class fitness club and 1 minute. The project is developed close to the city center, in proximity to the JW Marriott Hotel and the Romanian Parliament and will comprise of two office buildings with GF+8 floors and one office tower of 14 floors, all surrounded by over 5,000 sqm of green areas.

"AFI Europe has an excellent long term and strategic relationship with the banks for financing projects and we are glad to have, once again, Bank Leumi as our partner for phase 1 in AFI Tech Park, a project through which we plan to open a new zone for office development in Bucharest," said David Hay, CEO AFI Europe Romania. "The fact that the Park is located in downtown Bucharest and not in city outskirts provides the Park the unique advantage sought after by multinational companies in Romania. With our current development projects, AFI Tech Park office project in Bucharest, AFI Brasov mall and offices, and soon to start our first residential project in Bucharest AFI City, AFI Europe continues its expansion in Romania."

The total investment for AFI Tech Park 1 is of over 30 million Euro. Construction works for AFI Tech Park 1 are advancing on schedule, currently having already completed the skeleton structure.