The last 30 years have marked a drastic transformation of Bucharest due to the contribution made by the real estate market. The construction sector represents not only a significant percentage of Romania's GDP but also the sector that has driven the aesthetic development of cities, economic growth through the creation of hubs for major international corporations, and the improvement of living standards by constructing modern housing with amenities that far exceed the standards provided by communist-era apartments.
One United Properties, Profit News TV, and Profit.ro have launched the "Bucharest 2028" campaign, focusing on responsible urban development. From the concept of the 15-minute city to mixed real estate development, urban regeneration, and reviving the centre of Bucharest, these are all themes that the "Bucharest 2028" campaign has addressed in an attempt to answer the question, "how are the new neighbourhoods of Bucharest built?".
Through their activities, real estate developers have restored abandoned areas, former factories, and in their place new urban centres emerged. Urban regeneration has been a growing trend for several years in major cities worldwide. Urban areas once heavily industrialized years ago are now being replaced by major real estate projects aimed at revitalizing the city for its inhabitants, such as One Floreasca City, developed on the site of the former Automatica platform, or One Cotroceni Park, situated on the grounds of the Ventilator industrial platform.
Additionally, the implementation of innovative energy solutions has led to improving the sustainability parameters of real estate developments. By adopting international standards for sustainable development that impact the surrounding environment, we've aligned ourselves with future trends. There's a strong emphasis on the energy efficiency of these properties, especially during times of constant price hikes. The geoexchange system implemented by One United Properties in collaboration with Veolia, in developments like One High District, One Lake Club, or One Lake District, represents one of these new products used in developments with higher standards.
Many residential developments now encompass not just homes but also cafes, restaurants, shops, fitness centres, and even offices—thus fostering industries adjacent to real estate. As a promoter of mixed-use developments, One United Properties has embedded this vision of sustainable development, bringing together multiple components that contribute to the well-being of residents in already iconic developments like One Floreasca City, One Herăstrău Towers, or One Cotroceni Park. The 15-minute city concept has become a cornerstone of urban residential design, where most daily needs can be met either by walking or cycling from residents' homes. According to this concept, within a 15-minute walk or bike ride, residents can access essential infrastructure for mobility, health, leisure, work, education, recreation, and provisioning. This includes shops and kiosks, restaurants, offices, educational and medical facilities, childcare and schools, entertainment, green spaces, as well as public transportation.
The office hubs have created economic development centres that have led to an increase in the city's population, growth in the local workforce, attraction of new international companies opening branches in the city, providing well-paying jobs, and also contributing to the economic growth of the city through taxes and local budget payments.
The historic area of Bucharest is being revitalized through extensive projects that involve the consolidation and transformation of historic buildings into hotels, office spaces, or residences. One United Properties reaffirms its commitment this year to preserving cultural heritage by acquiring historic properties for renovation. The year 2021 marked a new chapter in One United Properties' history as the company invested for the first time in restoring historic monuments following the acquisition of the Braikoff House. The historic building is undergoing complete renovation and will be known as One Athénée, hosting exclusive apartments and commercial spaces. Additionally, in March 2022, One United Properties acquired the former Ford factory located within One Floreasca City, which will be restored and transformed into a retail and office space, named One Gallery. Overall, the gross value of the investment allocated to the company's portfolio of restored buildings is estimated at 189 million euros.
