Property developer AFI Europe aims to secure permits for a new mixed-use scheme that would be located near its Bucharest-based shopping centre.
The company has 5 hectares of land that is suitable for a new real estate investment. Last year, the company took over an office building and 7,000 sqm of land from BCR near AFI Cotroceni mall.
“Our plan is to develop a mixed-use project in this area that will include a residential component, several offices and a retail, which will jointly create an active community,” Doron Klein, CEO AFI Europe Romania and Czech Republic, told Profit.ro.
The company plans to submit documents to secure a separate Zoning Urban Plan (PUZ) for the future mixed-use project. At present, the coordinating PUZ plans are suspended following a decision of city counselors taken last spring. The decision has been enforced for Districts 2-6 and is valid for 12 months.
AFI Europe’s portfolio in Romania includes around 170,000 sqm of retail space and approximately 300,000 sqm of offices. The company is currently working on new residential and office buildings in Bucharest.
Sign up today for the latest news