One United Properties residential sales reach record EUR 274.9 mln in 2023, up 63% from 2022
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 274.9 mln in 2023, a 63% increase compared to 2022. During 2023, the Group sold and pre-sold 953 apartments covering a total surface area of 80,757 sqm, 1,584 parking spaces and other units. This performance marks a considerable leap from the 599 apartments and 978 parking spaces sold in 2022.
“Our record sales in 2023, with nearly a thousand units sold, not only signify a landmark year for us but also mirror the stability of Bucharest’s economy. These figures align with Romania's key economic indicators, such as GDP growth and the rise in average incomes, reflecting an uptick in the city’s general prosperity. Our performance directly reflects these positive economic shifts, indicating a solid demand in the real estate sector. The completion of 1,430 units across four key developments – One Cotroceni Park, One Verdi Park, One Floreasca Vista, and One Timpuri Noi, represents another significant milestone for One United Properties, surpassing our total output in prior years, and therefore showcasing our role and position in the dynamic evolution of Bucharest. As we contribute to the city's development, we witness a steady demand for high-quality living spaces, a trend that indicates well for the economic future of the region”, said Victor Capitanu, co-CEO at One United Properties.
The company's top-selling developments in 2023 were One Lake District, where 430 units were pre-sold since the launch in June 2023, and One High District with 251 units pre-sold. Other notable developments include One Lake Club, with sales of 145 units, and One Floreasca Towers, with 55 units pre-sold. By the end of 2023, 71% of the apartments at One United Properties recently delivered or under construction were already sold, underlining a continued strong demand across the company’s portfolio. Based on the contracts signed with clients as of December 31st, 2023, One United Properties expects additional cash inflows of EUR 295 mln by 2025.
The commercial division of One United Properties continued to expand, with significant leasing achievements in office developments. In 2023, One United Properties leased and pre-leased 34,200 sqm of office and retail spaces versus 31,700 sqm leased in 2022. One Tower and One Victoriei Plaza maintained full occupancy as of the yearend, while One Cotroceni Park 1 and One Cotroceni Park 2 were 88% and 75% leased, respectively.
“In 2023, alongside our significant residential sales growth, we also witnessed a robust expansion in our rental activities, which has a significant positive impact on the city of Bucharest. This trend indicates a robust demand for high-quality, sustainable and best in class working environments that One United Properties delivers. It drives new companies to relocate or establish hubs in Bucharest, thus fostering the creation of high-quality workplaces at some of the world’s top companies. Our actual four office locations host nearly 10,000 employees, contributing to an estimated EUR 3 bln in revenue as reported by the local subsidiaries of One United Properties’ tenants. The total number of new workplaces generated at the buildings owned by One is approximately 2,100, including new positions launched in Bucharest by global giants such as Siemens Energy, Ford, Stripe, and Bluetweak. These numbers underscore the healthy business climate in Bucharest and suggest a potential for continued economic growth in the region, as long as businesses are provided essential infrastructure to thrive”, said Andrei Diaconescu, co-CEO at One United Properties.
As of December 31st, 2023, One United Properties owns or has under pre-SPA over 265,000 sqm of excellent land locations for future development, with aboveground building rights of over 865,000 sqm, on which the company plans to build approximately 6,000 apartments, services for communities, and 163,500 sqm of rental commercial buildings. Out of the commercial buildings, 117,500 sqm will host offices and the remaining 46,000 sqm are located within buildings that will undergo restoration, including One Gallery, the largest private investment in a protected building in Romania. The gross development value of the restoration portfolio currently under development by One United Properties is estimated at EUR 239 mln.
ONE UNITED PROPERTIES (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings, and has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.
*This is a Press release.