One United Properties announces another mixed-use project in Bucharest

Romanian real estate developer One United Properties will start a mixed use project to include 800 apartments, 80,000 sqm of office spaces and 15,000 sqm of retail spaces on the site of former Ventilatorul platform it purchased from Austrian group Immofinanz last year.

The Ventilatorul platform is located in Bucharest’s central-west area, close to the Military Academy and the Cotroceni Palace.

The project, called One Cotroceni Park, will be developed on a 5.8-hectare land plot and will include nine blocks with about 800 apartments plus offices with a rentable area of approximately 80,000 square meters.

The spaces on the ground floor of the buildings will be mostly dedicated to retail. One United has appointed real estate consultancy firm Cushman & Wakefield Echinox as a strategic consultant for defining the retail area concept and implementing the retail space leasing strategy.

“One Cotroceni Park will benefit from a retail area of 15,000 square meters, representing over 10% of the developed area, which will serve both the approximately 10,000 people who will work and live in the project, as well as the residents in the neighborhood, through a new series of concepts and facilities specially designed for this location,” says Bogdan Marcu, Partner Retail Agency, Cushman & Wakefield Echinox.

One United Properties is one of the most active real estate developers in Bucharest. The company is already working on another mixed-use project in Bucharest, on the former Automatica industrial platform, in Floreasca area.

Founded in 2007 by local investors Victor Capitanu and Andrei Diaconescu, One United Properties has completed residential projects such as One Herastrau Park, One Charles de Gaulle or One Herastrau Plaza.

(Photo courtesy of the company)