RO developer starts building apartments in one of Bucharest’s most exclusive areas

Romanian real estate developer One United Properties says it will develop “the most exclusive residential project” in Bucharest, located in a historic location near Kiseleff Park and Aviatorilor Boulevard.

The residential complex will consist of three low height blocks.

"One Modrogan is a unique project for us, as developers, and for future owners," said Beatrice Dumitrascu, VP Residential Sales One United Properties.

"First of all, because land in such an area is rarely available, maybe once every 20 years. Also, the residential complex that we will develop here is outlined as a true cultural reference, an architectural symbol of modern Bucharest, a project that we will have completed within 8 years from land acquisition (in 2014). There are people who have been waiting for over 10 years for the opportunity to buy an apartment on Modrogan alley," she added.

The project, called One Modrogan, is located next to the historic villa Filipescu-Brancoveanu, which hosts the headquarters of Romania’s ruling National Liberal Party (PNL), according to Hotnews.ro. The developer bought the land from the company that manages the state’s properties – RA-APPS, which also owns the villa.

Former Bucharest mayor Gabriela Firea granted One United the construction permit for this project in the last days of her mandate, Hotnews.ro also reported. The new mayor, Nicusor Dan, is known mainly for challenging such projects in court and advocating for preserving Bucharest’s architectural heritage.

(Photo source: the company)