Bucharest-listed One United Properties, Romania’s leading green real estate developer, reported €227.8 million in total sales and pre-sales for 2024, covering 83,958 sqm of residential and commercial space. The company sold 850 apartments and commercial units, along with 1,270 parking spaces and other unit types.
As of December 31, 2024, the developer had 4,041 residential units, 22,000 sqm of office spaces, and 21,000 sqm of commercial spaces under construction, with a Gross Development Value (GDV) of €1.5 billion.
Despite challenges posed by inflation, geopolitical and political instability, Victor Capitanu, Co-CEO of One United Properties, praised the team’s resilience: “Our sales team delivered an outstanding performance in 2024, navigating a complex market shaped by high inflation, geopolitical uncertainty, and a complicated local political landscape.”
The One Lake District Phase 2 was the only new project introduced to the market in 2024, with most sales concentrated in advanced-stage developments. By year-end, 72% of the available units under development and delivered had already been sold. Additionally, €342.9 million in contracted payments are expected by 2027, with €173.8 million collected in 2024 alone.
The commercial division experienced significant growth, with headline rental revenue reaching €28.2 million, a 20% increase compared to 2023. Leasing remained strong despite market challenges, with 12,850 sqm of office and retail spaces leased or pre-leased and 7,120 sqm in lease extensions. By year-end, 94% of the company’s standing commercial portfolio was occupied.
Co-CEO Andrei Diaconescu emphasized the company’s resilience, stating: “Despite challenges in the residential and office segments, we achieved exceptional results. The €228 million in residential sales, coupled with 20,000 sqm of commercial leases and extensions, confirms that in uncertain times, people seek quality.”
Looking ahead, One United Properties has 285,100 sqm of land secured for future development, with potential for 988,000 sqm of above-ground gross building rights (GBA). The company estimates the construction of 7,000 apartments, community services, and 146,000 sqm of commercial buildings, including 121,000 sqm of office spaces and 25,000 sqm of restored buildings. The planned developments have a projected GDV of €1.8 billion, reinforcing the company’s commitment to sustainable urban expansion.
The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.
One United Properties at a Glance
Year founded: 2007 Headquarters: Bucharest, Romania Turnover: €208.5 million (9M 2024) Employees: 50-200
