Romania's One United residential sales decline 10% in Q1

During the review period, the company sold or pre-sold 92 apartments with a total area of 10,618 sq m, One United Properties said in a press release. Additionally, it sold 228 parking slots and other types of real estate units.

Sale prices rose by 27% in the review period.

"We concentrated our efforts on enhancing sales in developments that are further along in construction, where we have observed a notable increase in margins due to appreciating sales prices, fully aligned with our pricing strategy. As of March 31st, nearly three-quarters of the units in our developments currently under construction have been sold out," One United Properties co-CEO Victor Capitanu said.

At the beginning of April, One United announced its ONE 2030 strategy, which aims to double the company's residential operations, further expand its commercial operations, and ensure a strong hospitality division with global lifestyle brand hotels in Bucharest.

In March, One United Properties partnered with global hospitality company Ennismore to open a hotel in Bucharest.

Earlier this month, the Bucharest Tribunal dismissed claims against the company's One Lake District and One Peninsula projects.

Established in 2009, One United Properties is a developer of residential, commercial and office real estate. In 2023, the company booked a net profit of almost 443.2 million lei ($94.9 million/89.1 million euro), down by an annual 12%.

Blue-chip One United's shares traded 0.55% higher at 0.92 lei as at 0918 CET on Monday on the Bucharest bourse.

(1 euro=4.9764 lei)