January 21, 2014

AFI Europe leases to Endava Romania 5,000 sqm in AFI Park 3

AFI Europe leases to Endava Romania 5,000 sqm in AFI Park 3

AFI Europe Romania has signed the first lease agreement of the year, for 40 percent of the total rentable area of the office building AFI Park 3, with the British held IT Company Endava Romania. The lease includes four floors in the third building of AFI Park office development with options for additional spaces to be leased according to Endava’s expansion plans. The company already occupied two floors in AFI Park 1, which will be relocated in the third building in December 2014, while also expanding its business with two additional floors.

“Endava is one of our main strategic long term partners and we are glad that AFI Park manages to answer Endava’s business plans requirements by offering the suitable space in terms of technical specifications and expansion needs in the needed timeframe. The current leasing results, having 100 percent of the areas leased in AFI Park 1, 96 percent of the areas leased in AFI Park 2 and the recent Endava pre-lease in AFI Park 3 makes us confident to start the construction of additional 27,000 sqm of Gross Leasable Area in AFI Park 4 and 5, which will commence during the first quarter of this year”, said David Hay, CEO AFI Europe Romania.

“Our company is in a continuous expansion process and we are happy that we found in AFI Park the office project which delivers to our needs and suits our plans in order to increase our headcount in Bucharest up to 400 people by the end of 2014. AFI Park has a series of advantages for us, such as location, accessibility, services provided by AFI Palace Cotroceni mall, parking, proximity to universities and possibilities for further expansion in the same office complex, all which made it the right decision for us to continue and expand in AFI Park,” declared Radu Grosu, Delivery Director for Endava’s business unit in Bucharest.

Endava is a very active employer on the IT market in Romania and has over 1,000 staff in the delivery centres in Bucharest, Cluj and Iasi. Endava was recently named the #1 IT employer to work for in Romania in a ranking published by an important business magazine and the company announced plans to grow staff numbers in Romania by 25 percent each year in the next two years. At the moment, Endava has nearly 300 employees in Bucharest, who are involved in software development projects mainly for clients in the UK and the USA in the banking & payments and media & publishing sectors.

AFI Park enjoys an exceptional high demand registered to the project, mainly from companies in the IT&C industry, as the two floors which Endava will leave vacant in the first building after its relocation have already been leased to tenants from the industry strengthening the office complex position as an IT&C Hub. One of these companies has also leased the entire remaining leasable area at the ground floor of AFI Park 1, totalling the leased area to 3,000 sqm.

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