AFI Europe opens retail park in Romania

The 30,600 sq m retail park boasts a gross leasable area of 29,400 sq m and is positioned within a land perimeter of 79,900 sq m, offering visitors 950 above-ground parking spaces, AFI Europe said in a press release in October.

The value of the investment is estimated at between 30 and 35 million euro ($37.3 million), regional public radio broadcaster Radio Timisoara quoted Avi Barzilay, CEO of AFI Properties/AFI Europe, as saying on Wednesday.

AFI Europe started the retail park's construction in September 2022 and completed it in October 2023.

The park houses a Carrefour hypermarket, DIY store Leroy Merlin, IT&C and electronics store Media Galaxy, and sporting retailer Decathlon. The venue also includes a McDonald’s drive-thru restaurant and a Starbucks coffee shop, among other businesses.

The opening of the AFI Arad retail park will create about 2,000 jobs locally, according to the developer.

AFI Europe, a subsidiary of Israel-based AFI Properties, is a real estate development, management and investment company operating in Central and Eastern Europe since 1997. AFI Europe has been operating in Romania since 2005.

($=0.9396 euro)