News Article One Downtown One Floreasca City One United Properties Romania Victor Căpitanu
by Property Forum | Hotel

The first Mondrian Hotel in Bucharest will be opened by Ennismore in central Bucharest following a deal with Romanian developer One United Properties.

Mondrian Bucharest will be located near the Romanian Athénée, where One United Properties has previously bought an unfinished building with the intention to transform it into a hotel. 

“This will be a significant milestone in redefining luxury and the hotel landscape in Bucharest and marks our company’s debut on the hospitality market. Mondrian Bucharest will become for sure a landmark for the city and will help increase tourism to our capital and to our country. This collaboration is a statement of our commitment to growing the attractiveness of Bucharest as a European capital,” said Victor Căpitanu, Co-CEO One United Properties.

In 2022, the developer expanded efforts in landmark restoration, with the acquisition of One Downtown, (including the former Hotel Muntenia). It also purchased the former Ford factory, located within One Floreasca City, which is currently undergoing restoration and will be transformed into a retail space, called One Gallery.

In total, the gross development value for the restoration portfolio of the company is estimated at €189 million.