Romanian real estate developer One United Properties has completed a capital increase process worth €25 million by selling part of its One Cotroceni Park urban regeneration project, currently under construction in Bucharest. The amount raised is to be invested in the further development of the project.
The developer has sold 30% of the companies controlling the office component of the One Cotroceni Park project.
One United Properties obtained the building permit last fall and currently, both phases of the office project are under construction. The developer plans to deliver approximately 45,000 sqm in 2021 and about 35,000 sqm in 2022. The first phase of the project is already 50% pre-leased.
The One Cotroceni Park project will also include 754 apartments and 20,000 sqm of retail space, for which the building permit is expected to be issued soon. The entire project requires an investment of €130 million.
