Sustainable residential developments, high-end office spaces, but also an engagement in the restoration of historic buildings are among the plans for 2023 that Victor Căpitanu, co-founder of One United Properties, spoke about at ZF Live.
Following a profitable year for the company, probably the best in its history, the developer is focusing its attention on 3 important directions: "The residential segment, the office, and commercial portfolio, but we intend to expand on the hotel side as well," said Victor Căpitanu.
One United Properties has acquired several historic properties in the centre of Bucharest and will restore them as part of its urban regeneration strategy and contribution to the protection of cultural heritage. These are One Athénée, One Downtown, and One Plaza Athénée. The latter will become a 5-star lifestyle hotel: “Here the building will be redesigned, reauthorized, and transformed into an internationally operated 5-star hotel. We aim to become the most desired 5-star hotel in Bucharest", said Victor Căpitanu.
Regarding the residential segment, the company plans to continue to develop sustainably in very good locations in the city. "In the last three, or four months, we have authorized six new locations, construction has already started on some of them, and others are on the way. We are talking about approximately 4,000 apartments that will be delivered in the coming years. Although last year we had a relative supply problem, i.e., we had continuous demand, but not enough supply, in recent months this has been solved with the new authorizations. The focus is to develop these locations, but in parallel, we are also looking at new development opportunities." The range of clients of One United Properties is also one that has diversified in recent years: "As a target, we look at middle and top management from corporations, local and international companies, entrepreneurs, and freelancers. We have quite a large number of customers. At the same time, there are also apartments in our developments with prices starting from 100,000 euros, which are more accessible, but of very good quality."
Positive signs are also seen in the office area, as the co-founder of One United Properties stated, and the company's plans aim at new modern and certified workspaces that meet current requirements.
"Our strategy is to increase the leased built area and have recurring revenues from long-term signed rents. We are optimistic about the office sector, where we have demand. Companies want to go to offices in modern, quality buildings, they no longer want old and depreciated places. This year we will start another office building of a little over 40,000 sqm. It is likely that in the next three years, we will reach an office and commercial portfolio of approximately 250,000 sqm."
When asked if he considers expanding to other cities, Victor Căpitanu stated that he is analysing opportunities, but the focus remains on Bucharest, where there is great potential and where the company can have a positive impact on the city. "There is a very big disconnect between how good the business environment is and the potential of the market and the Bucharest city or country brand. The potential of Bucharest is exceptional."
Complete interview here:
