The moment was marked today, September 1st, by an event at the future retail park in Arad
The representatives of AFI Europe and Arad City Hall laid the foundation stone of the first modern retail park in Arad, which will be built in the center of the city. AFI Arad will be the first retail park to be developed by AFI Europe in Romania. The company previously developed 3 large scale shopping centers in Bucharest, Brasov and Ploiesti.
The future retail park will occupy a built area of 30,600 square meters, on a piece of land with a total perimeter of 79,900 square meters. The gross leasable area (GLA) of the project is 29,400 square meters, on a single level, served by 950 parking spaces above ground level. Currently, the project’s occupancy rate is70%.
As a novelty for Arad, McDonald’s opened, as part of the project, its first Drive-Thru restaurant of this type in the city, on an area of 148 square meters. Other future tenants of the AFI Arad retail park that will arrive for the first time in Arad are Carrefour hypermarket (with a leasable area of 5,800 sqm),the DIY store Leroy Merlin (with a leasable area of 9,000 sqm), Media Galaxy (3,000 sqm) and Decathlon (2,000 sqm). The mix of tenants also includes international brands such as Sinsay, Cropp. In addition, visitors will enjoy the offer of mobile operators and several other well-known brands.
The retail park will be open to the public in the second half of 2023
The start of the project was symbolically marked today, by laying the foundation stone and burying a time capsule at the base of the future building, in the presence of the Mayor of Arad, Mr. Calin Bibart and representatives of AFI Europe Romania.
„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. The community of Arad will benefit from a new meeting point in a generous space where beautiful moments, the pleasure of shopping and quality entertainment can be shared with friends and family. Before long, we will invite the city’s residents to take part in a modern shopping experience in a retail park that brings top brands and the most attractive leisure spaces”, said Doron Klein, CEO of AFI Europe Romania and the Czech Republic,
“I can only be happy that Arad is, once again, a trailblazer. This retail park, which is to be built on a land plot that has been unused for many years, it represents a premier from many points of view. It will be the first retail park in Romania, developed by AFI Europe, an internationally renowned company. Moreover, I am excited because this retail park will be a novelty for the people of Arad, because here they will find brands that have not been available locally up until now. At the same time, it will be located in the city and not on the outskirts, which will be an advantage for every Arad resident.
And, last but not least, I am glad that our city is once again proving to be an attractive center for investors, which guarantees numerous possibilities for future development”, said Mayor Calin Bibart.
About AFI EUROPE
AFI EUROPE is part of AFI Properties, a leading real estate development, management, and investment company, operating in Central and Eastern Europe. In Romania the company operated AFI COTROCENI shopping center, one of the largest and most dominant malls in the CEE region, AFI PLOIESTI and AFI BRASOV. In the office sector, AFI Europe Romania has a portfolio of 7 Class A business parks (AFI PARK 1-5, AFI TECH PARK, AFI PARK BRASOV, AFI LAKEVIEW, AFI PARK FLOREASCA, AFI VICTORIEI PLAZA, AFI PARK TIMISOARA).
AFI Europe Romania is the second most important office owners in the country, managing business projects totaling approximately 300,000 sqm GLA and retail spaces of approximately 170,000 sqm GLA.
In 2020 the company delivered its first residential project on the local market, first phase of AFI City Bucurestii Noi containing 190 apartments, bringing the long-term experience accumulated on international markets.
In 2022 the company will inaugurate AFI Tech Park 2, the second phase of the three phases business park located on Progresului boulevard and a commercial gallery, AFI CITY BUCURESTII NOI located right near the residential component, at Laminorului metro station. In 2021 AFI Europe Romania acquired 2 land plots in Pipera for developing a new business division, Residential to Rent, consisting of 3 residential towers and a total number of 450 apartments perfectly tailored to fit the needs of people who want to have more flexibility but at the same time, access to a modern home with all maintenance, services, and facilities in the immediate vicinity. The future development plans of the company include new offices, commercial and residential to rent expansions in Bucharest and at the regional level.