“Sibiu is one of the most exciting urban development opportunities in Romania today. The city has strong fundamentals – a thriving economy, rich cultural heritage, and growing demand for quality urban living,” says Victor Capitanu, co-CEO of One United Properties.
The completion of the transaction is subject to the fulfillment of several conditions precedent, including the issuance of the final building permit, expected by the end of 2026.
Besides developing a new mixed-use community, combining residential, commercial and service areas, One United Properties will also preserve and restore four historical buildings located on the platform.
One of the buildings to be restored is the former Gratioza fountain-pen factory, founded in 1922. As one of Romania’s early producers of writing instruments, Gratioza played an important role in the interwar industrial development of Sibiu. Later nationalized under communist rule and renamed Flamura Roșie, the factory became part of the FLARO industrial group – a key manufacturer of writing instruments throughout the 20th century. Gratioza’s pens were used in correspondence by the Romanian Royal House and are now featured in public collections, including the Brukenthal National Museum in Sibiu.
“Sibiu offers the kind of layered opportunity we rarely see – a strong residential market, rising demand for modern office and commercial spaces, and a city identity shaped by culture and tradition. This new development will allow us to bring all those dimensions together, leveraging our proven expertise in blending restoration with contemporary urban development,” added Andrei Diaconescu, co-CEO of One United Properties.
This acquisition reinforces the One United Properties’ ability to identify and secure strategic opportunities that generate long-term value for residents, investors, and the local economy. It also supports the continued growth of Company’s national footprint in line with evolving urban demand patterns.
One United Properties registered RON352 million turnover in the first quarter of 2025, down 16%, and RON96.2 million, 39% lower than in the same period of 2024.
ONE shares have shed 28% in the past 12 months and added 7.44% since the start of the year, amid a bourse valuation of RON2.55 billion.
(English version by Catalina Apostoiu)