AFI Europe posted a net operating income of €22.2m from its income producing assets in Romania during the first six months of the year, up 13.1 percent y-o-y. AFI Palace Cotroceni, the largest shopping mall in Romania, posted a net operating income of more than €16.5m in H1 2016, up 8.6 percent y-o-y. Retail sales at the mall increased by 14 percent in H1 2016 compared to the same period last year, resulting in more than €112m in in the first six months of 2016. Footfall increased by 5.5 percent, and the occupancy rate is close to 99 percent.
Retail sales at AFI Palace Ploiesti increased by 19 percent in H1 2016, while the net operating income increased by 8.1 percent y-o-y to more than €2.2m. The mall is currently 99 percent leased.
AFI Park, following the completion of AFI Park 4&5, posted a net operating income of more than €3.4m in H1, up 48 percent y-o-y. The office park’s first three buildings are fully leased, while AFI Park 4&5 it is more than 70 percent occupied.
“Following a 13-percent higher net operating income, our long-term strategy is to continue and achieve constant and steady growth in the NOI development. Including our pipeline projects, the portfolio in Romania will increase to 300,000 sqm of leasable areas,” said David Hay, CEO of AFI Europe Romania.
