Romanian developer One United Properties has purchased a 21-hectare land plot in Bucharest for an undisclosed amount. The company plans to start a new residential development that will feature around 5,000 homes.
The land was purchased from Immofinanz Romania, part of CPI Property Group, according to sources cited by profit.ro. The planned project will mark the expansion of One United Properties in the affordable premium housing niche.
“Recognizing the need for high-quality, yet affordable housing in Bucharest, we are pleased to expand into the upper sub-segment of the mass market. This move is a strategic response to market trends and the increasing call for sustainable, accessible living options. We envisage this development as more than a collection of homes; it is set to be the largest development in our company's history, embodying our ambition to create a vibrant, sustainable community that sets new standards in the housing sector,” said Victor Căpitanu, Co-CEO of One United Properties.
Andrei Diaconescu, Co-CEO of One United Properties, added that the company’s strategic vision broadens to include larger-scale developments designed to meet the needs of Bucharest's growing middle class.
Shares in One United Properties were up 1.43% top 0.99 lei on Thursday morning trading on the Bucharest Stock Exchange (BVB).
