One United Properties (BVB: ONE), the leading Romanian green developer of residential, mixed-use, and office properties, recorded total sales and pre-sales of EUR 95.4 million in H1 2025, corresponding to 28,602 sqm of residential and commercial spaces.
These results reflect the sale and pre-sale of 301 apartments and commercial units, as well as 332 parking spaces and other unit types.
“The sharp rise, of 20%, in average price per sqm sold and the fact that only 1 in 5 units from our current residential portfolio remains available for sale represent a confirmation of market trust in our product. These results are not only a testament to the continued appeal of our developments, but they also secure a high degree of predictability in our cash flows. With 364.4 million euros already contracted and scheduled to be collected by 2027, we are operating with low leverage, high liquidity, and minimal execution risk. It is exactly this level of commercial visibility and financial discipline that allows us to navigate today’s macroeconomic environment with confidence,”
said Victor Căpitanu, co-CEO of One United Properties.
The increase in the average price per sqm, up 20% year-on-year, was driven by the sales mix, which consisted primarily of units in advanced stages of construction, such as One Lake Club and One High District. However, nearly a third of all sales were generated by One Lake District Phase 2, the most affordable development in the Company’s portfolio, set for delivery in 2027. In addition to these transactions, the Company recorded EUR 12.3 million in pre-sales to early clients at projects where construction had not yet started, up from EUR 4.8 million in the same period of 2024.
As of June 30th, 2025, 79% of the available units under development and delivered were sold to final clients. Amounts to be received under existing contracts with customers are expected to generate EUR 364.4 million in additional cash by 2027, while EUR 71 million was collected in the first half of the year alone.
The commercial division also continued to support recurring income. In H1 2025, One United Properties recorded headline rent of EUR 14.2 million, a 3% year-on-year increase. The Company leased and pre-leased 7,483 sqm of office and retail space and signed lease extensions for an additional 18,948 sqm. As of June 30th, 2025, the standing commercial portfolio covered over 144,000 sqm of gross leasable area, with a 98% occupancy rate. Based on the current development pipeline, the commercial portfolio is expected to reach 187,000 sqm by the end of 2026, following the deliveries of One Gallery, One Technology District, and Hotel Mondrian.
“The scale of construction activity underway today reflects years of disciplined planning, strategic land acquisition, and execution capacity built over time. We are rapidly approaching the milestone of 1 million square meters of total built area delivered to clients – a level we expect to surpass within the next 12 months. Out of the more than 4,000 residential units currently under construction, approximately half are scheduled for delivery this year, offering strong visibility into revenues and cash generation in the second half of 2025. This momentum confirms not only the depth of our pipeline, but also our ability to execute consistently even in a more selective market,”
said Andrei Diaconescu, Co-CEO of One United Properties.
In the first half of 2025, One United Properties finalized 157 residential units at One Lake Club Phase 2, while the second half of the year is expected to mark the largest volume of deliveries in the company’s history. As of June 30th, 2025, One United Properties had 3,884 residential units, 22,000 sqm of office space, and 21,000 sqm of commercial space under construction, with a combined Gross Development Value (GDV) of EUR 1.44 billion. Of this, EUR 1.17 billion represents GDV under construction for the residential segment. In addition, the company held, as of June 30th, 2025, landbank that will bring further estimated GDV of EUR 2.2 billion, corresponding to over 9,000 future residential units.
