AFI Europe has announced it intends to build a 50,000 m[sup]2[/sup] shopping mall on a 8-hectare plot of land it has acquired in the western Romanian city of Arad. The mall, scheduled to open in 2009, is the latest in a series of projects AFI Europe has in Romania. In cooperation with NCH Capital, the company is already building the 80,000 m[sup]2[/sup] Controceni Park mall in Bucharest and it is planned to add a 75,000 m[sup]2[/sup] office building.
AFI Europe has announced it intends to build a 50,000 m2 shopping mall on a 8-hectare plot of land it has acquired in the western Romanian city of Arad. The mall, scheduled to open in 2009, is the latest in a series of projects AFI Europe has in Romania. In cooperation with NCH Capital, the company is already building the 80,000 m2 Controceni Park mall in Bucharest and it is planned to add a 75,000 m2 office building.
In October, AFI Europe acquired two plots of land in the north of Bucharest for another major development. The company said it intends to establish a residential quarter, to include more than 2000 residential units, public buildings and commercial areas in a built-up area of approximately 250,000 m2. The establishment of the project is expected to be undertaken in a number of stages, during the course of the coming years.
The company is a subsidiary of Africa-Israel Investments, one of the largest investment companies in Israel. The group earlier announced plans for a 330,000 m2 office project in Moscow. The project, intended principally for office towers, will be located above the rail lines connecting the Belarus railway station with the Sevlavsky station. Africa Israel is also developing a mall, office buildings, residential areas, and a 5-star luxurious hotel in the region of the Belarus railway station close to Taverskaya Street. The overall investment volume is NIS 4 bn (EUR 720 mln).
