One United Properties (BVB: ONE), Romania’s leading investor and developer of sustainable residential, mixed-use, and office real estate projects, announces the acquisition of a 5,755 sqm plot of land at 110-112 Barbu Văcărescu Street. The company plans to develop a mixed-use tower on the site, in an area that pairs proximity to nature with easy access to Bucharest’s main business district. The transaction amount is EUR 10 million.
The acquisition strengthens the company’s presence in a part of the Romanian capital where it has been building for more than a decade, and where its portfolio includes established landmarks such as One Floreasca City, One Gallery, One Floreasca Towers, and One Verdi Park. In the Floreasca - Barbu Văcărescu area alone, ONE has completed developments with a combined gross development value of around EUR 536 million. A further portfolio with a gross development value of approximately EUR 360 million is under construction in the same area, including One Floreasca Sunset, One Peninsula, and One Floreasca Club. The development planned for the newly acquired site will add another EUR 130 million in gross development value.
According to the preliminary design concept, the building will include four basement levels, a ground floor, and 25 upper floors, with an above-ground gross built area of approximately 25,900 sqm. Standing more than 100 meters tall, the tower will be one of the tallest residential buildings in Romania, and it will be designed as a signature development that will bring new life to the Floreasca-Barbu Văcărescu neighborhood. The lower floors will include retail and office space, with a range of services and amenities. The development will also give an abandoned site back to the city. Beyond housing, the project will bring shops, workspaces, and 2,000 sqm of green space to the area, for future residents and everyone who lives or works in the neighborhood to enjoy.
One United Properties will run an international architecture competition for the tower’s design, with the aim of delivering an iconic building for the city. The company took the same approach for One City District, whose masterplan will be designed by French architect Jean-Michel Wilmotte.
“We chose this site for its location and for the way it complements our investments in Floreasca-Barbu Văcărescu. We have developed homes and offices here, and through One Gallery we are bringing in restaurants, wellness facilities, and event spaces. The synergy between these functions creates value: nearby services add to the appeal of the new project, while future residents will broaden the customer base of local businesses. We also care about what this investment brings to the community: more services within walking distance, places to meet, and street-level spaces for everyone in the neighborhood to enjoy. These benefits will be written into the brief for the international architecture competition, in which we will be looking for a design that makes the most of the site’s position and views, paying as much attention to the tower’s silhouette as to the way the building opens up to the street,”
said Andrei Diaconescu, co-founder and co-CEO of One United Properties.
The newly acquired site is a few minutes’ walk from One Gallery, the former Ford Hall restored by ONE, which is home to Marketta Food Hall, one of the largest food halls in the region, alongside offices, event spaces, and a private club dedicated to health, wellness, and longevity. The new tower will carry forward the transformation of the area and complement its existing services: residents will drive new footfall to the restaurants and retail spaces in ONE’s portfolio, both nearby and further afield. The neighborhood is also well connected to the rest of the city, with quick access to Bucharest’s northern office hub and the A3 motorway. Access was recently improved further by the upgrade of the tram line along Barbu Văcărescu, which reopened in March 2026 and offers a direct link to Băneasa Airport and Bucur Obor.
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