AFI Europe Romania: Vision and long-term commitment

AFI Europe has built many major real-estate projects in Romania with a significant impact on the development of various parts of Bucharest and most recently, of other cities in the country, according to Doron Klein, CEO AFI Europe Romania.

“In my opinion, the most important achievement is our first major project, the development of AFI Cotroceni Mall,” he tells The Diplomat – Bucharest. “Inaugurated in 2009, AFI Cotroceni is the biggest mall in Romania and one of the most important shopping centers in the region, with over 55,000 visitors daily. To see the real impact of this project, we must look beyond visitors and sales figures, which are certainly impressive. Like all our later projects, this first one triggered significant economic and social changes in the area where it was developed. Moreover, the integration of our office buildings AFI Park 1-5 into the mall project created the first mixed-use business hub in Bucharest, with thousands of employees enjoying the benefits of this park,” he adds.

Doron Klein goes on to say that AFI Europe proved its visionary approach and created the premises for future projects that positively changed the landscape of the city.

Most significant projects for AFI Europe Romania

“2019 is a year with important achievements on all the three pillars of our activity: retail, residential and office, a year in which we continued the development of our major projects,” says Klein. “We are in advanced stage with AFI Brasov, a mixed-use project which offers 45,000 sqm GLA of prime retail space and 25,000 sqm GLA of A Class office area in the heart of Brasov city.”

On the office segment, AFI Europe Romania continued the development of AFI Tech Park Business Campus, by starting the second phase of the project, AFI Tech Park 2. “The first building of the campus, AFI Tech Park 1 is almost fully leased and we are now advancing the discussion with few potential tenants for the second phase of the project,” he adds.

“On the residential segment, we are proud to announce that our first residential project in Romania, AFI City, situated in Bucurestii Noi neighbourhood, is moving ahead toward its completion and the first residents will be moving in at the beginning of 2020.”

For next year, AFI plans to focus on organic growth, but it is always looking for new investment opportunities, including acquisitions and extension of the projects already built.

“Romania continues to be a good place for investments, thus supporting our plans for the next years. We are confident in the local economy and have a long-term commitment here, generating positive social and economic changes with our projects,” says Klein.

Learning and reinventing

“At AFI Europe Romania we are always learning and reinventing,” states Klein. “Before starting a new office, residential or retail project, we are evaluating its impact in the area and making sure the function and design will properly incorporated we don’t necessarily look at already developed areas but try to evaluate the potential of a certain location to fit to its future purpose,” he explains.

“Our activity here in Romania is not only about financial figures, it is about vision and long-term commitment. A strong and loyal community built around a real-estate project is the best measure for its success.”

(From the print edition)