One United Properties Buys Bucharest Land for Tower

One United Properties has acquired a 5,755-square-metre plot at 110-112 Barbu Văcărescu Street in Bucharest for €10 million.

The Romanian real estate developer plans to build a mixed-use tower on the site, which combines access to green surroundings with proximity to the city's main business district.

The acquisition expands the company's presence in the Floreasca-Barbu Văcărescu area, where it has operated for more than a decade.

According to Property Forum, the new development is expected to generate approximately €130 million in gross development value.

Mixed-Use Tower Planned Across 25 Floors

Under the preliminary design concept, the building will feature four basement levels, a ground floor and 25 upper floors.

The planned above-ground gross built area is approximately 25,900 square metres.

Standing more than 100 metres tall, the tower is expected to rank among Romania's tallest residential buildings.

The lower floors will accommodate retail and office spaces, alongside services and amenities.

The development will also provide 2,000 square metres of green space for the neighbourhood.

The project is planned for a previously abandoned site, adding new landscaped space to the surrounding area.

Also Read: Romania Land Market Shifts Toward Development-Ready Plots

Developer Expands Its Floreasca Portfolio

One United Properties has already completed several projects in the Floreasca-Barbu Văcărescu area.

These include One Floreasca City, One Gallery, One Floreasca Towers and One Verdi Park, which together represent a gross development value of approximately €536 million.

A further portfolio worth around €360 million is under construction in the same neighbourhood. This includes One Floreasca Sunset, One Peninsula and One Floreasca Club.

The company said the new project would build on the area's existing investments and the relationship between residential and commercial uses.

According to co-founder and co-CEO Andrei Diaconescu, nearby services can increase the appeal of the development, while future residents can expand the customer base for local businesses.

Also Read: Romania Green Roof Law: New Rules From 2027

International Architecture Competition Planned

One United Properties plans to organise an international architecture competition to select the design for the tower.

The company said it would seek a design that makes the most of the site's location and views.

The approach follows the process used for One City District, whose masterplan will be designed by French architect Jean-Michel Wilmotte.

The planned tower will add residential, retail and office components to the developer's Bucharest portfolio.

Its design, layout and public green space are expected to shape the project's contribution to the Floreasca-Barbu Văcărescu neighbourhood.

Enjoyed this update? Visit PropTech Pulse for more real estate news, investment insights and property market trends.