AFI Europe brought in €19.1m in rent from AFI Palace Cotroceni for first nine months of 2012, an increase of 10 percent compared with the same period last year. AFI Palace Cotroceni rent amounted to €17.37m during the first nine months of 2011. The 79,200 sqm shopping mall has more than 300 tenants. It opened in 2009 and is the first investment by the developer in Romania. AFI Europe is currently building an office project near the mall. The first stage of the five building project was completed this year. AFI Europe also owns plots in Bucharest, Ploiesti and Arad.