AFI plans its second Bucharest shopping centre
16 November 2009
Israeli developer AFI Europe is planning to start construction of a second shopping centre in Bucharest this year, says Business Review. The company recently opened its first such development in the capital, AFI Palace Cotroceni.
The new investment will amount to some EUR 50 million, out of which EUR 30 million will come from bank loans. The developer is currently negotiating with several banks for this loan.
The company has plans for four shopping mall projects in Romania, including AFI Palace Bucharest, the second in the capital. The mall will be located alongside the AFI Golden City residential project, in north-west Bucharest, and will cover 20,000 sqm of GLA.
By comparison, the already finished shopping mall developed by AFI features 76,000 sqm of GLA. Aside from its newest Bucharest development, AFI Palace Ploiesti and AFI Palace Arad are also on the list. The project in Ploiesti will include 31,400 sqm of GLA of retail area and 10,000 sqm of offices. In Arad, there will be 33,000 sqm of retail GLA and 12,000 sqm of offices.
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