Romanian developer One United Properties has purchased an unfinished, abandoned building in the historic centre of Bucharest, for €13.5 million. The building will be transformed into a 5-star lifestyle hotel - One Plaza Athénée.
The building is located near the Romanian Athenaeum, and the gross development value is estimated to reach €48 million.
One Plaza Athénée will comprise approximately 100 5-star hotel rooms and will benefit from the highest quality related services such as swimming pool, spa, restaurants, and other facilities on the ground floor. The new hotel is slated for delivery in 2025.
“We are negotiating with several global Hotel brands, for the operation of the hotel with a multi-year contract. Located right in the heart of the city, the future lifestyle hotel will offer plenty of commercial, cultural and entertainment options just a few steps away," said Victor Căpitanu, Co-Founder of One United Properties.
In December 2022, the company has also acquired three more historic buildings in the centre of the city, on Academiei street, in order to restore and transform them into a new development - One Downtown.
Shares in One United Properties were down 0.35% to 0.84 lei on Wednesday morning trading on the Bucharest Stock Exchange.
