Time:
2:36 pm
One United Properties acquires a 1.4-hectare plot of land in the Lake Tei area for a new mixed-use development called One Academy Club
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the acquisition of a new 14,295 square meter plot of land near Lake Tei, where the company plans to build a new mixed-use development called One Academy Club. The total value of the transaction amounts to EUR 11,4 million, settled through compensation with residential and commercial units within the development.
The land located on Radu Tudoran street (a four-lane road), parallel to Fabrica de Glucoză street, will host a residential development with commercial and educational facilities, close to other developments in the company’s portfolio, One High District and One Lake Club. One Academy Club will feature approximately 150 apartments, 6 commercial spaces, and 254 parking spaces. The development stands out for its facilities dedicated to the entire community, such as commercial spaces, as well as a school and kindergarten, with a gym, after-school program, canteen, library, and outdoor sports court.
”The area around Lake Tei is one of the most dynamic spots on Bucharest’s urban development map, and we’re excited to be actively contributing to shaping the future of this district. Our new development, One Academy Club, will offer modern housing targeting the medium-high segment, as well as an essential component for quality of life: a school and a kindergarten. We believe that urban responsibility means more than just constructing buildings; it means creating sustainable and complete communities where people can build balanced lives. This development will complement our portfolio in a highly desirable area of Bucharest with excellent prospects”, said Victor Căpitanu, co-founder and co-CEO of One United Properties.
The gross development value (GDV) for One Academy Club is EUR 50 million. Completion is estimated for Q4 2027, and construction and pre-sales are expected to start this year, following the granting of the building permit.
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