Romania's One United Properties to invest 61.8 mln euro in new residential development

The company obtained the building permit for the project and aims to complete it in February 2025, it said in a press release.

One Floreasca Towers will consist of two high-rise tower buildings with 14 floors each, with a total of 208 residential units. The development will have a gross building area of approximately 35,000 sq m.

The complex will be built on a land plot with a total area of 5,600 sq m and will also include 254 underground parking spaces.

"The success we had with similar developments located in neighbouring areas, such as One Verdi Park and One Herastrau Towers, gives us premises for yet another highly desirable residential development" said CEO of the Residential Division at One
United Properties, Beatrice Dumitrascu.

One United Properties is a green investor and developer of residential, mixed-use and commercial real estate projects in Bucharest.

At the end of last month, One United Properties said that it will invest 152.2 million euro to develop a large-scale residential complex in the northern part of Bucharest.

One United is listed on the main market of the Bucharest Stock Exchange and currently has a market capitalization of 3.42 billion lei ($691.4 million/696.2 million euro).

Its shares traded 0.32% higher at 1.236 lei by 1039 CET on Tuesday, bourse data showed.

($=1.007 euro)