BUCHAREST, Romania, Aug. 7, 2024
/PRNewswire/ -- 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
123.3 million euros 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 results quarter after quarter. 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 331 million
euros in additional cash by 2026. An additional 79 million euros were collected in H1 2024
alone.
The commercial division of One United Properties continued to
expand, with the headline rent for the rental portfolio reaching
14 million euros 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 Andrei Diaconescu, co-CEO
of One United Properties.
As of June 30th, 2024, One United
Properties had in ownership, or under pre-SPA, 285,100
sqm of land locations for further development, with total
above-ground gross building rights (GBA) of approximately 988,000
sqm. All these land plots are currently in the planning phase. The
Group estimates the construction of 7,000 apartments, services
for communities, and 146,000 sqm of rental commercial
buildings. Out of the commercial buildings, 121,000 sqm will
host offices and the remaining 25,000 sqm are located within
buildings that will undergo restoration.
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.
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