The three buildings are located on Academiei street no. 19, 21, and 23, near the Odeon Theatre and the Ion Mincu University of Architecture and Urbanism. The value of the transaction amounts to 3.73 million euros, and the gross development value is estimated at 35 million euros. The total surface of the land is approximately 1,300 sqm and the gross buildable area is 7,100 sqm.
The final use of the buildings will be decided later, with residential and hotel options currently being considered.
„We will continue these efforts in 2023 as well because we are convinced that urban regeneration is one of the key pillars of our strategy, to develop cities responsibly,” says Victor Căpitanu, co-founder of One United Properties.
2021 marked a new milestone in the history of One United Properties as the company deployed, for the first time, capital into historical landmarks restoration, following the acquisition of Casa Braikoff.
Between 2023 and 2024, One United Properties estimates investments of a minimum of 70 million euros in the urban regeneration of abandoned historical landmarks in Bucharest, to protect and regenerate the cultural heritage of Romania’s capital.
The real estate developer’s shares were listed on the Bucharest Stock Exchange on July 12, 2021, in the wake of a successful IPO during which the company raised RON260 million to continue developments both on the housing and office segments.
The company ended the first nine months of 2022 with consolidated turnover worth RON908.8 million, up 455, and RON421 million net profit, 120% above the year-earlier period.
(English version by Catalina Apostoiu)