AFI Europe starts construction of 16 mln euro residential project in Romania

The first phase of AFI City construction will be completed in the summer of 2019, AFI Europe said in a press release.

Romania-based TGC has been designated as general contractor for the first phase of the project.

Situated in the northwestern part of Bucharest, along the Bucurestii Noi Boulevard, Phase 1 of the project will consist of 190 apartments and 228 above-ground parking spaces.

"The start of construction works marks a milestone for the development of one of our key projects in Romania. While working on the AFI City concept, especially in the context of the lack of quality of design and construction projects in Bucharest, we figured out that there is high demand for sustainable and functional apartments," AFI Europe Romania business development manager, Tal Roma, said.

"Sales expectations are high and we believe that they will run at a rapid pace due to the location of the project and to our concept of a private community," Roma added

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

($=0.8624 euro)