AFI Europe starts works on first retail park in Romania

The retail park will be open to the public in the second half of 2023, the company said in a press release.

The future park will be built in the center of the city and will occupy a built area of 30,600 sq m.

The occupancy rate of the project currently stands at 70%. Tenants of the park will include hypermarket Carrefour, DIY store Leroy Merlin and sporting retailer Decathlon.

"I am happy to take part today in this important moment for us and for the residents of Arad, the start of the construction of AFI Arad retail park, which thus brings an important investment to the city and contributes to its modernization." said Doron Klein, CEO of AFI Europe Romania and the Czech Republic.

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

Three other shopping centers are run by the company in the Romanian cities of Ploiesti, Brasov, and Bucharest, in addition to seven business parks.