The corona crisis has a substantial impact on the world economy and therefore also on the European retail real estate industry. With this in mind, it is only logical that openings of shopping centers are postponed. For example, Aleja in the Slovenian capital Ljubljana could not be launched as planned by SES Spar European Shopping Centers on March 19, 2020. See the full ACROSS article here.
Now, AFI Europe Romania had to announce a similar postponement: AFI Brasov, the largest shopping center project to be delivered in Romania in 2020, will not open its doors in May but this autumn. The decision is based on the company’s top priority to ensure the safety of all employees, collaborators and clients, which cannot be provides as necessary, due to the Covid-19 pandemic. The exact opening date will be determined once a higher predictability of the overall social context is reached. Throughout this period, AFI Brasov will provide support to all tenants and partners in order to ensure a smooth adjustments to the current conditions, while also continuing the work for the upcoming opening.
AFI Brasov is located in the city of the same name in Transylvania and has a total GLA of 45,000 sq m. The shopping center will include shops, restaurants, a cinema complex, a hypermarket, playgrounds, a gym, service shops, and a green terrace. AFI Europe’s total investment in this project amounts to €170 million.