Romanian developer One United Properties plans to invest at least €70 million in the next two years in the urban regeneration of abandoned historical landmarks in Bucharest.

Romanian developer One United Properties has purchased a 10,710 sqm land plot near Floreasca where it plans to start a new residential investment.

Romanian developer One United Properties said its first quarter turnover gained 81% to €70.5 million compared to Q1 2021, while its gross profit rose almost fourfold to €42 million over higher residential sales and rental income. 

Bright Spaces, the Romanian proptech startup, has launched its first international subsidiary in London, as part of its scale up strategy. 

Romanian developer One United Properties has purchased a land plot of 3,065 sqm for the extension of its residential complex One Lake Club, located on the shores of the Lake Tei in Bucharest. 

Romanian One United Properties has purchased a building that used to house a production plant of Ford in Bucharest from Auchan Romania.

Romanian developer One United Properties aims to raise up to €100 million in equity from investors through a share capital increase. The move will be up for vote during the next shareholder’s meeting of the company slated for April 26. 

Romanian developer One United Properties is reportedly exploring several options to expand outside the domestic market.

One United Properties continues to develop its Bucharest-based office portfolio which has reached an estimated value of almost €400 million. Property Forum spoke with Mihai Păduroiu, CEO of the Office Division of One United Properties, about the transformation in the office market triggered by the pandemic and the drivers of demand going forward.

Romanian developer One United Properties recorded revenues of 1.1 billion lei (€222 million) during 2021, up 105% year-on-year, while the gross profit expanded almost two-fold to 603.5 million lei (€122 million) over higher residential sales and increased rental income.