Romanian developer One United Properties aims for net profit of more than 110 million euros this year

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One United Properties, one of the largest green developers of residential, mixed-use and office properties in Romania, said it estimated revenues of RON 1.52 billion (about 307 million euros) and a net profit of RON 548.7 million (€111 million) in 2022. The promoter plans to carry out several projects and invest in new ones this year.

The One United Properties Board of Directors passed the budget for 2022 on January 10. Then, the shareholders will also have to approve it at the general meeting of shareholders scheduled for April 26.

“We are confident that 2022 will be another solid year for the Romanian real estate market and One United Properties, and we expect our business to continue to grow at a good pace. […] This year we will complete four new residential developments and two new commercial developments while investing in new properties for development. As a result, we expect strong increases in both residential sales due to an increase in the number of completed developments and new developments, as well as a significant increase in rental income,” said Victor Capitanu, co- CEO of One United Properties.

“In parallel, we will continue to invest in new properties to further develop and expand our portfolio in Romania. We estimate that we will invest RON 1.16 billion in 2022, capital that will be used exclusively to create additional value for our stakeholders,” he added.

The developer plans to complete several residential projects this year, namely One Verdi Park, One Modrogan, One Timpuri Noi and One Floreasca Vista. Additionally, the company expects One Cotroceni Park Phase 2 to be completed before the end of the year, which will generate more recurring revenue in the coming years.

The company said rental income is expected to reach RON 71.78 million (around €14.5 million) in 2022, driven by full occupancy of One Tower, the receipt of One Cotroceni Park Phase 1 and its lease, as well as the acquisition of the majority stake in Bucur Obor.

One United Properties is the third largest entrepreneurial company listed on the main market of the Bucharest Stock Exchange, as well as the largest real estate developer listed on the local capital market. The company’s shares were listed on BVB on July 12, 2021, following a successful IPO, during which the company raised RON 260 million for new developments in the residential and office segments.

As of December 20, 2021, ONE shares are included in the FTSE Russell Global All-Cap Index.

irina.marica@romania-insider.com

(Photo source: the company)


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