Romanian developer One United Properties has secured a €47 million loan from Banca Transilvania.

Romanian commercial and residential developer One United Properties has announced that its two Co-CEOs Victor Căpitanu and Andrei Diaconescu have made a combined share purchase in the company.

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.

Romanian developer One United Properties recorded a profit growth of 3% to €31.6 million in Q1 2024 versus the same period of last year, while its turnover fell by 5% to €84.3 million in the same interval.

Fintech start-up MetaWealth has partnered with One United Properties in a €20-million framework agreement for rental apartments. In the first phase, MetaWealth will list on its platform 31 apartments developed in One Lake District, which have a total estimated investment value of €5.5 million. The fintech said that two more assets will be listed in the following 12 months.

Romanian developer One United Properties said its residential sales and pre-sales volumes totaled €57.1 million in Q1 2024, down by around 10% year-on-year.

The two main shareholders of One United Properties, Victor Căpitanu and Andrei Diaconescu, sold shares in the company alongside minority shareholders CC Trust AG and Altius SA. 

Office leasing in Bucharest reached 97,400 sqm in Q1 2024, up 71% compared to the same period of last year, while take-up transactions that cover relocations and new demand were flat year-on-year at 33,000 sqm, according to a CBRE report.

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.

Romanian developer One United Properties recorded a net profit of €89.6 million in 2023, up 8% year-on-year, while its turnover rose by 30% to €306.6 million over higher residential sales and rent income.