One United Properties reports strong sales in first half of 2024
<p>Romanian real estate developer One United Properties reported sales and pre-sales figures for the first half of 2024, totaling EUR 123.3 million.</p>

<p>During this period, the company sold and pre-sold 452 apartments and commercial units, covering a total surface area of 43,809 sqm, along with 624 parking spaces and other unit types.</p>

<p>Victor Capitanu, co-CEO of One United Properties, highlighted the company’s consistent performance since its IPO three years ago, stating, "The first half of 2024 continues this trend, marking another period of solid growth for both our residential and office divisions."</p>

<p>Pre-sales began for the second phase of the landmark development One Lake District in May 2024, resulting in 165 units sold within a month.</p>

<p>By the end of June 2024, 66% of the available units under development and delivered were sold out.</p>

<p>The company expects to receive EUR 331 mln in additional cash by 2026 from contracts concluded by June 30, 2024, with EUR 79 mln collected in the first half of 2024 alone.</p>

<p>In the commercial sector, One United Properties saw a 21% increase in headline rent, to EUR 14 mln in the first half of 2024. The office division leased and pre-leased 8,100 sqm of office and retail space at One Cotroceni Park. By mid-year, 95% of the company's standing commercial portfolio was leased, and multiple lease extensions were signed for a total of 6,770 sqm.</p>

<p>As of June 30, 2024, One United Properties had 4,041 units under construction with a total gross development value of EUR 1.3 billion.</p>

<p>The company also had 285,100 square meters of land for future development, with plans to construct 7,000 apartments and 146,000 sqm of commercial buildings.</p>

<p><em>(Photo: the company)</em></p>

<p><em>andrei@romania-insider.com</em></p>