One Cotroceni Park, the largest urban regeneration project developed in Bucharest by One United Properties has a new façade.
The project for the new façade uses the latest technologies and is created according to the latest trends in architecture and design.
Earlier this June, the company decided to sell 30% of the 75,000 sqm office component and the investment is now used to upgrade the design façade. The project targets the delivery of about 45,000 sqm in 2021 and about 35,000 sqm in 2022. According to business estimations, by the time the development will be completely delivered the office component will be worth over EUR 220 million, at an investment return of 7%.
"We will reinvest everything in the office component development, for which we have created two new companies - One Cotroceni Park Offices and One Cotroceni Park Offices Faza 2", says Victor Căpitanu, one of the co-founders and two main shareholders of the company, together with Andrei Diaconescu. Following this process, One United Properties will own 56% of the office component, Element Invest Partners 16%, and a minority of Romanian investors the remaining 28%.
One Cotroceni Park will also include 754 design apartments and 20,000 sqm retail space.
More details here.