AFI Europe Romania invests 16 mln euro in first phase of Bucharest residential project

During the project’s first phase 190 apartments and 228 parking spaces were built, AFI Europe Romania said in a press release.

"We will continue our projects in Romania, as our commitment towards local communities across the country remains strong," AFI Europe Romania CEO Doron Klein said.

The development of AFI City began in the second part of 2018.

AFI Europe, a subsidiary of AFI Properties, is a real estate development, management and investment companies operating in Central and Eastern Europe since 1997. AFI Europe operates in Romania since 2005.

Earlier this month, property investment and development group NEPI Rockcastle said that it has signed a non-binding memorandum of understanding with AFI Europe which allows it to resume negotiations for the disposal of its Romanian office property portfolio.

In April, AFI announced that it is rescheduling the opening of AFI Brasov, the largest shopping centre to be delivered in Romania in 2020, due to the COVID-19 pandemic. Initially planned for the spring of this year, the opening date is now moved to the autumn of 2020, should the overall social conditions allow it, the company said at the time.

($= 0.874 euro)