One United Properties residential sales and pre-sales reach EUR 123.3 mln in the first half of 2024

One United Properties (BVB: ONE), the leading Romanian green developer of residential, mixed-use, and office real estate, reports residential sales and pre-sales of EUR 123.3 mln in the first half of 2024. In H1 2024, the Group sold and pre-sold 452 apartments and commercial units with a total surface of 43,809 sqm, 624 parking spaces, and other unit types.

"Since our IPO three years ago, One United Properties has consistently delivered strong quarterly results. The first half of 2024 continues this trend, marking another period of solid growth for both our residential and office divisions. To meet the increasing demand for our high-quality homes, we began pre-sales for the second phase of our landmark development, One Lake District, where our sales team sold 165 units within just one month. What stands out in the first half of 2024 is the consistent sales across all our targeted sub-segments – premium, high-end, and luxury – spanning both completed developments and those still under construction. In a market where supply has been declining year-on-year, our ability to meet broad market demand with the highest-quality products has set us apart, enabling us to continue our rapid growth and maintain our leading position", said Victor Capitanu, co-CEO of One United Properties.

At the end of May 2024, pre-sales started at the second phase of One Lake District, where 867 units are being built. Consequently, as of June 30th, 2024, 66% of the available units under development and delivered were sold out. Amounts to be received under contracts concluded with customers as of June 30th, 2024, will total EUR 331 mln in additional cash by 2026. An additional EUR 79 mln was collected in H1 2024 alone.

The commercial division of One United Properties continued to expand, with the headline rent for the rental portfolio reaching EUR 14 mln in H1 2024, a 21% increase compared to H1 2023. The leasing activity continued to be robust, as in H1 2024, One United Properties office division leased and pre-leased 8,100 sqm of office and retail spaces at Phase 1 and 2 of One Cotroceni Park. As of June 30th, 95% of the Group’s standing commercial portfolio was already leased. Moreover, the Company signed multiple lease extensions for a total area of 6,770 sqm.

"As of the end of June, One United Properties had 4,041 units under construction, with a total gross development value of 1.3 billion euros. Our impact on the city of Bucharest and the broader economy is truly unparalleled. This impact extends beyond job creation and tax contributions - it also includes enhancing the standard of living for thousands of residents and providing top-quality office spaces for tens of thousands of professionals. As we expand our commercial division, particularly with the progressing construction at One Gallery and One Athenee, as well as the newly inaugurated construction sites at Mondrian Hotel and One Technology District, we are not only elevating the lifestyle in Bucharest but also positioning the city as a premier urban destination in Europe, firmly placing it on the global travel map", said