AFI Europe's first retail park in Romania opens in Arad on November 1st

AFI Europe announces the finalization of construction works on its first retail park developed in Romania, located in the city center of Arad. The official inauguration is scheduled for November 1st, in the presence of local authorities and company representatives. Residents of Arad will enjoy a modern shopping experience in a commercial park built to the highest standards, with access to well-known stores such as Carrefour, Media Galaxy, Starbucks, Carturesti, Decathlon, Teilor, Half Price, CCC, Fressnapf, DM, Smyk and many more.   The retail park encompasses a built area spanning over 30,600 square meters, positioned within a total land perimeter of 79,900 square meters. The project boasts a gross leasable area (GLA) of 29,400 square meters, all on a single level, and ensures convenient access for visitors with 950 above-ground parking spaces.   As part of the project, a McDonald's Drive-Thru restaurant was opened during the summer of 2022. Likewise, the first Leroy Merlin in the city opened its gates to the public in July 2023, offering a leasable area of 9,000 square meters. AFI Arad will also host several newcomer retailers arriving in the city for the first time, such as Carrefour hypermarket (with a leasable area of 5,800 square meters), Media Galaxy (3,000 square meters), Decathlon (2,000 square meters), Half Price, Starbucks, Burger King and others. The opening of AFI Arad will create approximately 2 000 jobs locally.   “It is with great pleasure that I announce the inauguration of this project, a milestone for both AFI Europe with our first retail park de in Romania, and the Arad community, who will have the opportunity to encounter renowned brands that have been eagerly awaited in their city. We have successfully delivered a retail park built to the highest standards, ensuring that the people of Arad can enjoy shopping with their family and friends. Additionally, we are delighted to have contributed to the local economy through our partnership with an Arad-based contractor – PAB, ensuring the best possible outcome", commented Doron Klein, CEO of AFI Europe Romania and The Czech Republic.   About AFI EUROPE   AFI EUROPE is part of AFI Properties, a leading real estate development, management, and investment company, operating in Central and Eastern Europe. In Romania, the company manages AFI COTROCENI shopping center, one of the largest and most dominant malls in the CEE region, AFI PLOIESTI and AFI BRASOV. In the office sector, AFI Europe Romania has a portfolio of 7 Class A business parks (AFI PARK 1-5, AFI TECH PARK, AFI PARK BRASOV, AFI LAKEVIEW, AFI PARK FLOREASCA, AFI VICTORIEI PLAZA, AFI PARK TIMISOARA).   AFI Europe Romania is the second most important office owner in the country, managing business projects totaling approximately 300,000 sqm GLA and retail spaces of approximately 170,000 sqm GLA.   In 2020, the company delivered its first residential project on the local market, the first phase of AFI City Bucurestii Noi which includes 190 apartments, thus bringing its long-term international experience to the local market.   In 2022, the company inaugurated AFI Tech Park 2, the second phase of the three phases business park located on Progresului Boulevard and a commercial gallery, AFI CITY BUCURESTII NOI, situated right near the residential project, at Laminorului metro station. In 2021, AFI Europe Romania acquired 2 land plots in Pipera for developing a new business division, Residential to Rent, consisting of 3 residential towers and a total number of 370 apartments perfectly tailored to fit the needs of people who want to have more flexibility, but, at the same time, access to a modern home with all the services, maintenance, and facilities in close proximity. The first phase of AFI Home North consisting of 2 residential to rent units is now under construction.   The company's development plans include new offices, commercial and residential to rent, in Bucharest and regionally.