November 13 (SeeNews) - Romanian real estate developer One United Properties said on Wednesday it has obtained a building permit for the first phase of One Cotroceni Park, a business park which is part of an 130 million euro ($143 million) mixed-use project.
One Cotroceni Park will include a retail area of 15,000 sq m, comparable to that of a medium-sized shopping center, One United Properties said in a press release.
"We are marking the start of the largest urban regeneration project in the central area of Bucharest, on a 5.8 hectare plot," One United Properties office division CEO Mihai Paduroiu said.
The residential component of the One Cotroceni Park mixed-use project provides approximately 800 apartments, which will be developed in several phases starting 2020.
Established in 2007, One United Properties is known for residential projects such as One Floreasca Lake, One Herastrau Park, One Charles de Gaulle or One Herastrau Plaza. Since 2017, the real estate developer is active on the office market, with an existing portfolio of 35,000 sq m and another 150,000 sq m of office space in development and construction.
($=0.9072 euro)
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