One United Properties acquires land near Bucharest’s Lake Tei for EUR 50 mln mixed-use project

One United Properties (BVB: ONE), a leading green developer of residential, mixed-use, and office real estate, said on Friday, September 26, that it has acquired a 1.4-hectare plot of land near Lake Tei in Bucharest for a new development worth EUR 50 million. The project, named One Academy Club, will combine housing with retail and educational facilities.

The land, covering 14,295 square meters on Radu Tudoran street, was purchased for EUR 11.4 million through a transaction settled in residential and commercial units within the future project.

Plans include around 150 apartments, six commercial spaces, and 254 parking spots, alongside a school and kindergarten equipped with a gym, after-school program, library, canteen, and outdoor sports court.

The project will be located close to other One United developments, including One High District and One Lake Club.

Construction and pre-sales for One Academy Club are expected to begin later this year, once permits are granted, with completion scheduled for the fourth quarter of 2027.

(Photo source: press release)