AFI Golden Palace construction to commence
07 May 2008
AFI Europe Romania announced the commencement of the building of its second development in Bucharest, with an investment of EUR 700 million. The project will include a shopping centre, an office building and a residential development, the total constructed area being approximately 600,000sqm. The AFI Golden Palace mall will have an area of 27,000sqm and will be equipped with a shopping gallery and a supermarket. According to the applicable city planning regulations, the project will be equipped with 1,000 parking spaces both underground and on ground level, to serve the customers of the shopping centre.
The office building will have an area of nearly 12,000sqm and will be built above the shopping centre. The AFI Golden City residential complex will be nearby the shopping centre and will bring 5,300 homes and recreational areas on the market, with a total area of around 530,000sqm. The location for the real estate project is Bucurestii Noi.
AFI Europe is part of the Africa Israel Group that has been active in residential and commercial development and investment in the Czech Republic, Serbia, Romania, Bulgaria, Germany, Latvia, Poland and Hungary since 1997. The group’s net turnover posted for 2007 is EUR 764 million, five times higher than the figure reported for 2006.
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