Israeli developer AFI Europe Romania will start this month the work on its first residential project in Romania, AFI City, which will be located in northern Bucharest, in the Laminorului area.

The developer appointed Romanian group TGC as the general contractor for this project.

The project’s first phase will have two buildings with a total of 190 apartments an should be finalized in one year. The investment in this first phase is EUR 16 million.

AFI Europe recently appointed Doron Klein as CEO of its local subsidiary, starting July.

AFI Europe Romania owns two malls in Bucharest and Ploiesti and a completed office project AFI Park. The company is currently working on its second office project in Bucharest, AFI Tech Park and has started a mixed real estate project in Brasov, which will include a mall and two office buildings.

AFI Europe sells land plot in Arad for EUR 17 mln

AFI Europe Romania sees 12% increase in net operational income

editor@romania-insider.com