Romania's One United Properties gets building permit for 90 mln euro project

The One Gallery project is a former Ford factory built in the 1930s that is being transformed by the company and has an estimated gross development value (GDV) of 90 million euro ($98.8 million), One United properties said in a statement filed with the Bucharest Stock Exchange.

The building will have a gross leasable area of approximately 13,500 sq m and 400 parking spaces, built on two underground floors, the company said.

Besides the retail component, One Gallery will also accommodate loft-style office spaces, information from the company's website showed.

Blue-chip One United's shares traded 0.42% higher at 0.964 lei ($0.21/0.19 euro) as at 1242 CET on Wednesday on the Bucharest bourse.

(1 euro=4.972 lei)