AFI Europe Romania generated a net operating income (NOI) of more than €40m in 2015 from its income producing assets in Romania, up 8 percent higher than the previous year.
AFI Palace Cotroceni Shopping Mall in Bucharest generated a NOI of close to €31m in 2015, up 3 percent compared to 2014. AFI Palace Ploiesti generated more than €4m in 2015, up 6 percent from the previous year.
“The good financial results coupled with positive microeconomic numbers of Romania encourage us to start more projects as the new shopping Mall to be developed in Brasov (45,000 sqm GLA) and the Office Park to be developed on Progresului Boulevard in Bucharest (50,000 sqm GLA), both are planned to commence construction this year,” said David Hay, CEO of AFI Europe Romania.
