AFI Europe opens its second mall in Ploiesti

After the success registered by AFI Palace Controceni, AFI Europe opened its second Romanian mall in Ploiesti continuing its expansion in the field. Based on a EUR50 million investment, AFI Palace Ploiesti follows the standard already imposed by the Bucharest-based mall and is part of the third generation malls category. Thus, entertainment facilities and spare time spending activities are primary components of the concept implemented there, over 20% of its surface being allocated to entertainment areas.

The project was mainly financed by Raiffeisen Bank International AG (RBI) through a loan of about EUR30 million and besides the entertainment facilities, the food court space, gathers many local or international brands, as well as some of the most important retailers on the Romanian market.

'When we decided to build AFI Palace Ploiesti, we priory researched the locals needs and desires. We found out that there's a huge demand for the best fashion brands, both national and international, to be downtown Ploiesti.

Having this in mind and in order to create a complete and attractive shopping experience, we built this modern mall in the central area of the city that provides the visitors the right mix of fashion, services, entertainment and restaurants.' said David Hay, CEO at AFI Europe Romania.

The consortium that has been operating in Romania since 2005 plans to expand its local business by opening other two shopping centers, one in Arad and another in Bucurestii Noi. Besides that, AFI Europe Romania also develops projects in the business offices segment. AFI Park 2 and AFI Park 2 are to be opened next year.

AFI Europe is a leading real estate development and investment company operating in Central and Eastern Europe and focusing on the development of large-scale commercial and residential projects.