One United Properties residential sales reach record EUR 274.9 million

by   CIJ News iDesk V
2024-02-06   13:13
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One United Properties reports residential sales and pre-sales of EUR 274.9 million in 2023, a 63 percent increase compared to 2022. During 2023, the Group sold and pre-sold 953 apartments covering a total surface area of 80,757 sqm, 1,584 parking spaces and other units. This performance marks a considerable leap from the 599 apartments and 978 parking spaces sold in 2022.

“Our record sales in 2023, with nearly a thousand units sold, not only signify a landmark year for us but also mirror the stability of Bucharest’s economy. These figures align with Romania's key economic indicators, such as GDP growth and the rise in average incomes, reflecting an uptick in the city’s general prosperity. Our performance directly reflects these positive economic shifts, indicating a solid demand in the real estate sector. The completion of 1,430 units across four key developments – One Cotroceni Park, One Verdi Park, One Floreasca Vista, and One Timpuri Noi, represents another significant milestone for One United Properties, surpassing our total output in prior years, and therefore showcasing our role and position in the dynamic evolution of Bucharest. As we contribute to the city's development, we witness a steady demand for high-quality living spaces, a trend that indicates well for the economic future of the region”, said Victor Capitanu, co-CEO at One United Properties.

As of December 31st, 2023, One United Properties owns or has under pre-SPA over 265,000 sqm of excellent land locations for future development, with aboveground building rights of over 865,000 sqm, on which the company plans to build approximately 6,000 apartments, services for communities, and 163,500 sqm of rental commercial buildings. Out of the commercial buildings, 117,500 sqm will host offices and the remaining 46,000 sqm are located within buildings that will undergo restoration, including One Gallery, the largest private investment in a protected building in Romania. The gross development value of the restoration portfolio currently under development by One United Properties is estimated at EUR 239 million.