AFI Europe Romania, one of the biggest real estate developers on the local market, recorded a net operating income of EUR 40.6 million in the first nine months of this year, up by 8% compared to the same period of 2017.

The company has over 200,000 sqm of operational retail and office properties, 60,000 sqm under development and 70,000 sqm in the pipeline for next year.

Its main asset in Romania is the AFI Cotroceni mall in Bucharest, which had a net operating income of EUR 27 million, in the first nine months, up 8% year-on-year. The sales recorded by the mall’s tenants went up 9%, to EUR 185 million, in the same period, while the number of visitors grew by 8%.

The group also has a mall in Ploiesti and five office buildings in Bucharest. The AFI Park office project, which totals 70,000 sqm, generated a net operating income of EUR 10 million in the first nine months, up 14% yoy.

The company has another office park under construction in Bucharest, a mall in Brasov and a residential project in Bucharest. Next year, it will also start the construction of a shopping center in Arad, Western Romania.

editor@romania-insider.com