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 five hectares of land that is suitable for a new real estate investment. Last year, the company took over an office building and 7,000sq m 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 counsellors 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 170,000sq m of retail space and approximately 300,000sq m of offices. The company is currently working on new residential and office buildings in Bucharest.
