AFI Europe, a development and investment firm based in Yehud, announced Sunday that it has signed a letter of intent to acquire a 54-dunam property in Sofia, Bulgaria for Euro 70m.
AFI Europe, a member of Africa Israel Investments Group, has stepped up business activity in more European countries.
AFI will have an equal share in the project with a foreign investment company. The proposed development will include a commerce center and office space. The acquisition in Bulgaria follows five acquisitions in central Europe from BSR Europe as well as a large portfolio in Germany.