The plot One is to buy from the Alezzi Group, a well-known local real estate developer, is located in the Faleza Nord-Pescarie area, one of the best locations in the city, with easy access to the beach and to the main points of interest in the city.
“The signing of this binding promise-to-purchase agreement supports the Company’s strategic direction to extend its footprint beyond Bucharest, by selectively pursuing opportunities in regional growth poles. Constanta and Sibiu are the first two markets targeted under this strategy,” said Victor Capitanu, co-founder and co-CEO of One United Properties.
The building permit, already issued for the plot of land, allows the construction of seven towers, of which six are residential and one is a five-star hotel, as well as a retail and leisure area, a school and kindergarten, a restaurant area, a gym/spa, a promenade, and the parking facilities required for the complex.
One United Properties intends to use the land for residential development with integrated retail space, in line with the sustainable concepts it already delivers in Bucharest. The gross development value is estimated at approximately EUR 500 million.
(English version by Loredana Fratila-Cristescu)