One United Properties (BVB: ONE) has acquired a 5,755 sqm plot at 110-112 Barbu Văcărescu Street in Bucharest for €10 million. The company plans to develop a mixed-use tower on the site, in an area that combines proximity to nature with access to the city's main business district.
The acquisition extends the developer's presence in the Floreasca-Barbu Văcărescu area, where it has been active for more than a decade. Completed projects in the area, including One Floreasca City, One Gallery, One Floreasca Towers and One Verdi Park, represent a combined gross development value of around €536 million. A further portfolio worth approximately €360 million is under construction in the same neighbourhood, comprising One Floreasca Sunset, One Peninsula and One Floreasca Club. The new development on the acquired site is expected to add €130 million in gross development value.
According to the preliminary design concept, the building will comprise four basement levels, a ground floor and 25 upper floors, with an above-ground gross built area of approximately 25,900 sqm. Standing more than 100 metres tall, the tower will rank among the tallest residential buildings in Romania. Lower floors will include retail and office space alongside a range of services and amenities, and the project will also deliver 2,000 sqm of green space to the neighbourhood on a previously abandoned site.
One United Properties will hold an international architecture competition for the tower's design, following the same approach taken for One City District, whose masterplan will be designed by French architect Jean-Michel Wilmotte. "We chose this site for its location and for the way it complements our investments in Floreasca-Barbu Văcărescu. The synergy between these functions creates value: nearby services add to the appeal of the new project, while future residents will broaden the customer base of local businesses. These benefits will be written into the brief for the international architecture competition, in which we will be looking for a design that makes the most of the site's position and views," said Andrei Diaconescu, co-founder and co-CEO of One United Properties.
The site is a short walk from One Gallery, the former Ford Hall restored by One United Properties, which houses Marketta Food Hall, offices, event spaces and a private health and wellness club. The neighbourhood benefits from good transport connections, including quick access to Bucharest's northern office hub and the A3 motorway. Connectivity was further improved by the upgrade of the tram line along Barbu Văcărescu, which reopened in March 2026 and provides a direct link to Băneasa Airport and Bucur Obor.
