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AFI on a roll

17 May 2018

ROMAIA AFI Europe Romania has published its financial results.
The net operating income (NOI) from its income producing assets in Romania reached EUR 13.6 mln over Q1 2018, representing a 12 pct rise on Q1 2017. AFI Cotroceni the largest and shopping centre in Romania reported a NOI of over EUR 9 mln in 3 months up by 8 pct compared to Q1 2017. AFI Cotroceni retail sales increased by 6 pct on Q1 2017. AFI Ploiesti, a shopping centre of 34,000 sqm gla saw retail sales rise by 11 pct to over RON 65 mln Office development AFI Park with 70,000 sqm is now 99 pct leased with a projected yearly income of EUR 13 mln. “Q1 2018 has once again shown continuous growth, including a 12 pct increase in NOI to EUR 13.6 mln in 3 months compared to Q1 2017 with an increased number of visitors to our shopping centres, new office leases in AFI Tech, expansions of our existing malls’ gla and the launch of sales in our first residential project AFI City. “Our overall occupancy in our income producing assets is 99 pct. In addition, we have three diversified ongoing projects under construction; AFI Brasov mall and offices, AFI Tech Park offices which are close to 40 pct pre-leased and AFI City Residential,” says David Hay, CEO of AFI Europe Romania.

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