One United begins work at residential project in southern Bucharest

One United Properties, a real estate developer controlled by local entrepreneurs Andrei Diaconescu and Victor Capitanu, has started building a residential project located on a 3,835 sqm land plot in Bucharest’s Timpuri Noi area, Ziarul Financiar reported. The complex, named Neo Timpuri Noi, will include 108 apartments plus commercial spaces and underground and outdoor parking lots. The Neo brand is an exclusive brand of One United Properties, dedicated to 4-8 storey boutique residential projects, located in premium locations and dedicated to high-income customers. The Neo real estate division was established in August 2018 and has already acquired the land plots for the first three projects: Neo Floreasca Lake, Neo Timpuri Noi and Neo Mamaia. Neo Mamaia has received building permits and construction works started in October last year. Biggest real estate deals of 2018 in Romania: office segment takes the spotlight editor@romania-insider.com (photo source: Pixabay.com)