AFI Business Park Cotroceni gets EUR 13.4 mln loan for first office building
AFI Europe, a member of Israeli AFI Group, has announced that it has inked a EUR 13.4 million financing agreement with UniCredit Bank Austria March 2012 - From the Print Edition
The money will be used to fund the development of the first A-class office building of a total of five within the AFI Business Park Cotroceni complex. By the time of completion, the office compound will deliver 70,000 sqm of lettable area. Construction of the first office building started last June and completion is due in August this year.
The first development stage of the project, AFI Business 1, will have a built area of 14,000 sqm and a rentable area of 11,000 sqm structured on ten levels above ground and two underground levels. The site will offer 185 parking spaces, to add to the mall’s existing 2,500. AFI Europe started its local operations in 2005, by developing AFI Palace Cotroceni. In Romania, the company will also develop AFI Palace Ploiesti, the retail park AFI Palace Arad and AFI Palace B.NOI mall.
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