Shareholders of Romanian developer One United Properties have approved the increase of the company’s share capital by €70 million in a move expected to start in August and conclude by October.
The developer said that 60% of the capital intended to be raised has already been committed by the two Co-Founders and Executive Members of the Board of Directors, Victor Căpitanu and Andrei Diaconescu, as well as the Chairman of the Board, Claudio Cisullo and Board Member, Marius Diaconu.
”The planned share capital increase is crucial for this growth, and we encourage our shareholders to boost their investment in One United Properties with approximately 10% of their existing holding. This investment is key to doubling our business in the next five years and achieving a fourfold increase within the next decade,” said Diaconescu, who chaired the shareholders’ meeting.
One United Properties aims to accelerate the development of affordable premium residential, which targets Bucharest's middle class. The developer has land under negotiation for a further 10,000 residential units exclusively for this sub-segment, with the first memorandum of understanding for a 21-hectare plot of land that will host 5,000 units already signed.
