Representatives of AFI Europe and Arad City Hall laid the foundation stone of the first modern retail park in Arad, western Romania. Built-in the centre of the city, the retail project is set to open to the public in the second half of 2023.
AFI Arad is the first retail park developed by AFI Europe in Romania. The company previously developed three large-scale shopping centres in Bucharest, Brasov, and Ploiesti.
“Before long, we will invite the city’s residents to take part in a modern shopping experience in a retail park that brings top brands and the most attractive leisure spaces,” said Doron Klein, CEO of AFI Europe Romania and the Czech Republic.
The future retail park will occupy a built area of 30,600 sqm on a piece of land with a total perimeter of 79,900 sqm. The project’s gross leasable area (GLA) is 29,400 sqm on a single level, served by 950 parking spaces above ground level. Currently, the project’s occupancy rate is 70 percent.
As part of the project, McDonald’s opened its first drive-thru restaurant in Arad. Other future tenants of the AFI Arad retail park that will arrive for the first time in the city are Carrefour (with a leasable area of 5,800 sqm), DIY store Leroy Merlin (9,000 sqm), Media Galaxy (3,000 sqm) and Decathlon (2,000 sqm). The mix of tenants also includes international brands such as Sinsay and Cropp.