One United Properties estimates net profit of 549 million RON in 2022

One United Properties, developer of residential, mixed-use and office real estate, estimates revenues of 1.52 billion RON and a net profit of 548.7 million RON in 2022. The budget for 2022, which One United Properties Board of Directors adopted on January 10, 2022, is subject to approval by the shareholders in the General Meeting of Shareholders, which will take place on April 26, 2022.

“We are confident that 2022 will be another strong year for the Romanian real estate market and for One United Properties and we expect our business to continue growing at a good pace. The global macro-economic signs point to interest rate hikes in 2022, which is why we also believe it is another good time to buy residential property. This year we will complete four new residential and two new commercial developments, while investing also in new properties to develop. As a result, we foresee strong increases both for the residential sales due to an increase in the number of completed and new developments, as well as a significant increase in the rental income. In parallel, we will continue investments in new properties to develop and further expanding our portfolio in Romania. We estimate that we will invest 1.16 billion RON in 2022, capital that will be used exclusively to build additional value for our stakeholders,” said Victor Capitanu, co-CEO of One United Properties.

For 2022, One United Properties estimates the completion of the following residential developments: One Verdi Park, One Modrogan, One Timpuri Noi and One Floreasca Vista, which will contribute significantly to the net income. The rental income is estimated to reach 71.78 million RON in 2022, driven by a full occupancy of One Tower, the reception of One Cotroceni Park Phase 1 and its lease, as well as the acquisition of the majority stake in Bucur Obor. Moreover, the company estimates the completion of phase 2 of One Cotroceni Park before the yearend, which will further drive recurring revenues in the coming years.

One United Properties is the third-largest entrepreneurial company listed on the Main Market of the Bucharest Stock Exchange, as well as the largest real estate developer listed on the local capital market. The company’s shares floated on BVB on July 12, 2021, following a successful IPO, during which the company raised 260 million RON for further developments in both the residential and office segments.

As of December 20, 2021, ONE shares are included in the FTSE Russell Global All-Cap index, which follows the most liquid shares in the world.