AFI Europe is a

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

and investment company operating in several main cities in Central and Eastern Europe. AFI Europe predominantly focuses on the development of large scale residential and commercial projects, and is part of the AFI Group, an international holdings and investments conglomerate.

Projects And Properties

The assets portfolio of AFI Europe consists of shopping malls and retail properties, business parks and office complexes, large-scale residential and mixed-use projects and income-yielding residential properties. Among the company's outstanding assets are AFI Palace Cotroceni, the largest shopping mall in

Bucharest Bucharest ( , ; ro, București ) is the capital and largest city of Romania, as well as its cultural, industrial, and financial centre. It is located in the southeast of the country, on the banks of the Dâmbovița River, less than north of ...

;

Airport City An airport city is the “inside the fence” airport area of a large airport, including the airport (terminals, apron, and runways) and on-airport businesses such as air cargo, logistics, offices, retail, and hotels. The airport city is at the ...

, a leading business park in

Belgrade Belgrade ( , ;, ; Names of European cities in different languages: B, names in other languages) is the Capital city, capital and List of cities in Serbia, largest city in Serbia. It is located at the confluence of the Sava and Danube rivers a ...

; Classic 7, a famous office project in

Prague Prague ( ; cs, Praha ; german: Prag, ; la, Praga) is the capital and largest city in the Czech Republic, and the historical capital of Bohemia. On the Vltava river, Prague is home to about 1.3 million people. The city has a temperate ...

; and :pl:Osiedle Europejskie, a large-scale residential project in Krakow AFI Europe also has a large inventory of land for future development.

History

The company commenced its operations in 1997 and coordinates AFI Group activities in Europe, and is headquartered in the

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

since 2006.

Controversy

During the

money laundering Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions ...

case '' United States vs Prevezon Holdings'' which involved

Sergei Magnitsky Sergei Leonidovich Magnitsky (russian: Сергeй Леонидович Магнитский, ; 8 April 1972 – 16 November 2009) was a Ukrainian-born Russian tax advisor responsible for exposing corruption and misconduct by Russian gover ...

companies stolen by

Denis Katsyv Denis Katsyv is a Ukrainian Russian and Israeli businessman based in Moscow and owner of Prevezon Holdings Limited. He was linked in a Civil forfeiture in the United States, civil-assets case to money laundering through real estate investments in th ...

, Prevezon Holdings accounts with AFI Europe were frozen but, after the out of court settlement was reached between

Joon Kim Joon Hyun Kim (born May 26, 1971) is an American attorney who served as the acting United States Attorney for the Southern District of New York from March 2017 to January 2018. He was Deputy U.S. Attorney for the Southern District of New York fr ...

, the acting US Attorney for the Southern District of New York, and both

Louis Freeh Louis Joseph Freeh (born January 6, 1950) is an American attorney and former judge who served as the fifth Director of the Federal Bureau of Investigation from September 1993 to June 2001. Graduated from Rutgers University and New York Universi ...

and

Natalia Veselnitskaya Natalia Vladimirovna Veselnitskaya ( rus, Ната́лья Влади́мировна Весельни́цкая, p=nɐˈtalʲjə vʲɪsʲɪlʲˈnʲitskəjə; born 22 February 1975 Kramatorsk, Donetsk Oblast, Ukrainian SSR, Soviet Union) is a R ...

, who were attorneys for Prevezon, Prevezon stated that money to pay its $5.9 million fine would come from the Netherlands from more than $3 million that AFI Europe owed to Prevezon.

Countries of operation

AFI Europe owns, develops and manages properties and projects in

Serbia Serbia (, ; Serbian language, Serbian: , , ), officially the Republic of Serbia (Serbian language, Serbian: , , ), is a landlocked country in Southeast Europe, Southeastern and Central Europe, situated at the crossroads of the Pannonian Bas ...

Czech Republic The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The ...

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia a ...

Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedon ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous ...

Latvia Latvia ( or ; lv, Latvija ; ltg, Latveja; liv, Leţmō), officially the Republic of Latvia ( lv, Latvijas Republika, links=no, ltg, Latvejas Republika, links=no, liv, Leţmō Vabāmō, links=no), is a country in the Baltic region of ...

, and

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

. with on-the-ground teams comprising more than 150 professionals.

References

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