Romanian developer One United Properties says its volume of sold and pre-sold residential units, parking spaces and commercial spaces amounted to around €123.8 million during H1 2024. This result is up by 2.5% compared to the same period of last year.
The total value of the residential sales as presented above does not include the pre-sales to early clients, which are lower margin sales that help finance land acquisition. The total volume of these sales amounted to €4.8 million in H1 2024 versus €31.6 million in the same period of last year.
In H1, the developer leased and pre-leased 8,100 sqm of office and retail spaces at Phase 1 and 2 of One Cotroceni Park. Moreover, the Company signed multiple lease extensions for a total area of 6,770 sqm.
The company’s rental portfolio generated €14 million in revenue, up 21% year-on-year.
Andrei Diaconescu, Co-CEO of One United Properties, said the company had 4,041 residential units under construction with a gross development value of €1.3 billion by June 2024.
“As we expand our commercial division, particularly with the progressing construction at One Gallery and One Athenee, as well as the newly inaugurated construction sites at Mondrian Hotel and One Technology District, we are not only elevating the lifestyle in Bucharest but also positioning the city as a premier urban destination in Europe, firmly placing it on the global travel map," said Diaconescu.
At the end of H1, One United Properties landbank for new developments totaled 285,100 sqm that can accommodate 7,000 apartments and 146,000 sqm rental commercial buildings.
