One United Properties (BVB: ONE), a developer of residential, office and mixed-use real estate listed on the Bucharest Stock Exchange, has achieved full occupancy across the modern buildings in its office portfolio. The operational buildings One Victoriei Plaza, One Cotroceni Park Office (phases 1 and 2) and One Tower are fully leased, while One Technology District, developed for Infineon Technologies, is fully leased under a 15-year agreement. One Gallery, nearing completion, is fully pre-leased. Together, the modern office spaces total more than 140,000 sqm of gross leasable area.
According to the Cushman & Wakefield Echinox Marketbeat Office Q2 2026 report, no new office project was completed in Bucharest in the first half of the year, and the vacancy rate on the modern office market stood at 11.6% at the end of the second quarter of 2026, the lowest level since Q3 2020. Net take-up, generated by companies expanding or entering the market, reached 73% of total leasing activity, up from 53% a year earlier.
One Cotroceni Park Office, with phases 1 and 2 totalling 82,798 sqm GLA, houses international companies including Siemens Energy, Ford, DP World, Deutsche Bahn, Stripe, Cencora and BAT Global Business Solutions. One Tower, with 24,073 sqm GLA and LEED Platinum v4 certification, is home to Saint-Gobain, CBRE, McCann Worldgroup Romania, CMS and Sanador. One Victoriei Plaza (12,000 sqm GLA) serves as the Romanian headquarters of Intesa Sanpaolo Bank. One Technology District (21,514 sqm GLA, including laboratory spaces) was developed to house one of the largest semiconductor research and development centres in South-Eastern Europe. One Gallery (14,845 sqm GLA) is the restored Hala Ford building, transformed into a retail hub and fully pre-leased.
"We have built a platform of commercial assets that, through its quality, sustainability, and income stability, responds precisely to the type of opportunity institutional investors are seeking in the region. The fact that all our modern office buildings are already fully leased confirms a consistent vision: that of offering companies the possibility to move from old, inadequate buildings to new, modern, and integrated workspaces. In a market where new quality supply is limited, companies are looking for precisely this type of space, and this is our real advantage," said Mihai Păduroiu, CEO of the Office & Commercial Division at One United Properties.
ONE aims to build a combined office and retail portfolio of 195,000 sqm GLA by the end of 2026, expanding from a portfolio of nearly 152,000 sqm GLA as of 30 June 2026. By 2030, the company targets a rental portfolio of over 300,000 sqm GLA, a gross asset value of more than €1 billion and headline annual triple net (NNN) rent of over €75 million. For 2027, the rental portfolio is estimated to generate headline annual NNN rent of €45 million. The infrastructure developed since 2019 supports over 16,000 jobs, and the businesses hosted in ONE buildings have contributed more than €7 million in taxes to local budgets.
