AFI Europe gets EUR 234m financing for Bucharest project

AFI Europe has signed a EUR 234 mln financing agreement with lender Hypo Real Estate for the AFI Cotroceni Park retail and office project in Bucharest.

AFI Europe recently began the development of the Palace Bucharest shopping centre at the Cotroceni Park. Upon completion, Palace Bucharest will be the largest shopping mall in Romania, with a gross lettable area of 75,500 m². The second phase of the project will encompass the development of five office buildings with a built-on area of approximately 60,000 m².

Registered in the Netherlands, AFI Europe is active in real estate development and investment in Central-Eastern Europe and South-Eastern Europe. The company - a subsidiary of the Tel Aviv-listed Africa-Israel conglomerate - is developing and managing projects in the Czech Republic, Serbia, Romania, Bulgaria, Germany, Latvia, Poland and Hungary.