The buyer said the existing building permit for the land allows construction of seven tower blocks - six residential and one five-star hotel - plus commercial areas, a school, kindergarten, restaurants, gym/spa, promenade and parking facilities.
"Constanța represents an important regional growth hub for Romania, a city with major long-term urban development potential through its international port and tourism component," said Victor Căpitanu, Co-Founder and Co-CEO. "This acquisition supports our strategic direction to expand beyond Bucharest, targeting cities with solid foundations and real demand for standards similar to what we've built in the capital."
One United Properties plans to develop a residential project with integrated commercial functions, following its sustainable building concepts from Bucharest. The gross development value is estimated at approximately €500 million, with construction beginning in about one year and completion expected within three years.
The company already operates One Mamaia Nord in Constanța County, a development with two completed phases and a third under construction. This year, One United Properties also signed a preliminary agreement for land in central Sibiu, marking its strategic entry into regional markets beyond the capital.
