One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the signing of a memorandum of understanding with EVERGENT Investments, one of Romania’s largest investment funds by market capitalization. The memorandum, concluded through specialized subsidiaries, aims to develop a plot of land with an approved urban development plan, located in a prime central area of Iași. The initiative is part of One United Properties’ regional expansion strategy. This is the third city in Romania with significant development prospects for ONE, following Sibiu and Constanța.
“Iași represents a regional hub with a solid economic foundation, an attractive regional market for a developer that focuses on quality products and a long-term investment vision, such as ONE. Iași is one of the regional cities we have actively monitored as part of our selective expansion strategy; here we have found a diversified economy, a long-established university centre, and improved connectivity. At the same time, we aim to help transform areas with potential into modern communities, based on a model that has already proven successful in the Bucharest market,”
said Victor Căpitanu, co-founder and co-CEO of One United Properties.
“Through its partnership with One United Properties, EVERGENT Investments has laid the groundwork for a large-scale project, built to the highest standards, on an approximately 25,000-square-meter site. This initiative represents an important step toward leveraging our real estate assets and creating value for shareholders,”
said Cătălin Iancu, CEO of EVERGENT Investments.
EVERGENT Investments, through its subsidiary Everland, is contributing the land with an approved zoning plan, thereby removing significant barriers and enabling the rapid commencement of the design and construction phases. Through the development of the project by One United Properties, EVERGENT Investments is strengthening the profitability of its private equity portfolio in the residential real estate sector.
The plot covers an area of 2.5 hectares and is located in the city of Iași, at 2 Primăverii Boulevard, in a central and well-connected area. The land has an approved zoning plan, and One United Properties intends to develop here, on several construction phases, a mixed-use complex with integrated apartments and offices, complemented by retail spaces designed to enhance its value. This first development by One United Properties in Iași represents a major urban reconversion project in a former unused industrial area, a strategic direction the company actively pursues.
“From our perspective, the development we are planning in Iași has the advantage of being located in a prime area, within an established urban setting, in a market where there is genuine demand for modern housing. An approved zoning plan already exists for a mixed-use complex, indicating that the area is administratively designated as a mixed-use hub. For the city, One United Properties’ entry into the Iași market means proven expertise in mixed-use development, a high standard of execution, a more coherent integration of services, and greater attention to how the new complex will connect to the existing infrastructure,”
added Andrei Diaconescu, co-founder and co-CEO of One United Properties.
The future development is designed as a mixed-use urban community, intended to support daily life in a dynamic area of Iași, with quick access to major roads and the city centre, approximately 8 km from Iași International Airport. In a city with a strong academic profile and a growing economy, the development will offer a balanced mix of residential, office, amenity, and retail spaces, enhancing the functionality of the entire area. Additionally, the city of Iași has become the second modern regional office hub, after Cluj, according to an analysis by Cushman & Wakefield Echinox, which highlights the market’s maturity and development opportunities.
Iași is the third-fastest-growing city in Europe over the past 15 years, alongside Wrocław in Poland, with growth driven by the IT and real estate sectors, according to an analysis by the research firm Oxford Economics, and the city’s GDP grew, on average, by approximately 5.5% per year between 2010 and 2025.
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