In a recent discussion with Ziarul Financiar, One United Properties co-founder Victor Căpitanu pointed out that the company’s developments are continuing during this period of time as the premium real estate sector is quite active.
”There is demand on the market. Our residential sales in April exceeded the ones in March and we also signed contracts every week for office lease at One Tower and One Cotroceni Park. Over 80% of the apartments in our developments are already pre-contracted, and the advances sums are on average 40-50%. For our office division, this year we deliver One Tower, with 24,000 sqm for rent. We are at 40% pre-leases and 10-20% head of terms”,
Mr. Căpitanu stated for Ziarul Financiar.
One United Properties co-founder also adds that the present economic crisis generated in turn by the health crisis caught the company in a ”good shape”. ” The economic situation is now significantly different from the previous crisis. “During the Lehman Brothers period, there was a lot of speculative money, and the degree of capitalization was much lower, therefore the crisis hit, and it was automatically very difficult for the entire economy. In today's situation, economy is much stronger.”
In recent years, the company has constantly focused on raising equity. ”We could not finance ourselves extremely well, banks were left with a bitter taste for the real estate market after Lehman Brothers and it was much harder to finance yourself as a developer. So, we are constantly moving towards private capital." That is why none of One United Properties projects were put on hold, quite the contrary. Our company recently received a building permit for a new project, where work will begin soon.
Complete article here.
