Bucharest court clears One United's residential project One Lake

Real estate developer One United Properties (BVB: ONE) announced on January 18 in a note to investors that the Bucharest Tribunal has completely rejected the summons filed by the Municipality of Bucharest and the general mayor regarding the cancellation and suspension of the building permit related to the One Lake Club development.

The decision is not final and can be appealed, Ziarul Financiar reported.

Last September, Bucharest mayor Nicuşor Dan took action in court to cancel the building permit issued for the One Lake Club residential project located on the shore of Lake Tei.

Dan, the founder of Save Bucharest NGO focusing on monitoring the balanced development of the capital city, has previously criticised projects of One group while his NGO attempted to prevent the concentration of urban developments at the cost of green spaces.

(Photo source: One United)