AFI Europe, an Israeli real estate developer, plans to start constructing a shopping center in Arad, Romania by the end of 2019.
The company intends to commit 40 million euros ($45.6 million) in establishing the shopping center on an 80,000 square meter plot of land.
AFI Europe's subsidiary, AFI Europe Romania, said that it will start to construct a retail park of 35,000 to 36,000 square meters leasable area in Arad in the third quarter of this year.
The new project, which will take between nine months and one year, will include an anchor, hypermarket, of 12,000 square meters, a 10,000 square meter do-it-yourself store among others.