One United Properties residential sales reach record 274.9 million euros, up 63 percent in 2023

One United Properties reports residential sales and pre-sales of 274.9 million euros 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.

“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.

The company’s top-selling developments in 2023 were One Lake District, where 430 units were pre-sold since the launch in June 2023, and One High District with 251 units pre-sold. Other notable developments include One Lake Club, with sales of 145 units, and One Floreasca Towers, with 55 units pre-sold.

By the end of 2023, 71 percent of the apartments at One United Properties recently delivered or under construction were already sold, underlining a continued strong demand across the company’s portfolio. Based on the contracts signed with clients as of December 31st, 2023, One United Properties expects additional cash inflows of 295 million euros by 2025.

In 2023, One United Properties leased and pre-leased 34,200 sqm of office and retail spaces versus 31,700 sqm leased in 2022. One Tower and One Victoriei Plaza maintained full occupancy as of the yearend, while One Cotroceni Park 1 and One Cotroceni Park 2 were 88 percent and 75 percent leased, respectively.

As of December 31st, 2023, One United Properties owns or has under pre-SPA over 265,000 sqm of 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 239 million euros.