The company is interested in purchasing the industrial platform of the Vulcanul plant in Bucharest's southern Progresul area., after its acquisition a few days ago of 155,000 sqm of land from iron materials producer Laromet, for €77.5 million.
"Vulcanul is a large area. There are probably two or three companies in Romania who could buy such a large platform. I'm not saying we don't have the financial strength to buy, but we just acquired Laromet and need some time to breathe," AFI Europe's General Manager, Reuven Havar, told Business Standard. But the businessman added, "I have time to wait, without fearing someone else will buy the land tomorrow."
Besides Laromet, AFI Europe has also bought one of the industrial platforms of the Electric Machines Plant in Bucharest (UMEB), on which it plans to develop a €200 million mall, and a piece of property belonging to the former Inox factory, where it intends to build a luxury residential complex worth €100 million.
The Israeli developer is interested in Bucharest's industrial platforms because of their significant size and central location. Furthermore, plant platforms that went bankrupt or are close to bankrupcy after the fall of communism are already fully connected to all utilities.
Projects ] Besides Laromet, AFI Europe has also bought one of the industrial platforms of the Electric Machines Plant in Bucharest (UMEB), on which it plans to develop a €200 million mall, and a piece of property belonging to the former Inox factory, where it intends to build a luxury residential complex worth €100 million.
