You’ve been with One United Properties since its early days. How has the company evolved from your perspective?

Initially, I was the sole salesperson, collaborating closely with the founders who managed commercial and construction aspects. As volumes grew, I expanded the sales team gradually. What stands out is the organic growth of the company, rooted in the founders’ vision to introduce innovation and redefine urban housing in a recovering market post the 2008 crisis.

What innovative elements set One apart in the market?

For instance, One Floreasca Lake, a significant project, introduced features uncommon at the time—ventilated facades, large windows, and glass-framed terraces. As we observed, tenants in penthouses with floor heating experienced lower bills, prompting us to adopt this as a standard feature across apartments. Sustainability became a core aspect of our strategy, driving us to enhance customer comfort and lead the decarbonization battle in Romanian buildings.

How did the concept of urban regeneration shape One’s development strategy?

We aimed to revive abandoned urban spaces and transform them into vibrant living, working, and commercial hubs within Bucharest. Neglected factories in Bucharest after the ’90s presented untapped opportunities. Many developers focused solely on the northern part of the city, causing traffic congestion. Projects like One Floreasca City and One Cotroceni Park illustrate our commitment to urban regeneration.

Did the pandemic impact your business or customer expectations?

Initially, there was a March slowdown, but we quickly resumed normal activity. In April, we completed transactions worth EUR 5 million, selling three penthouses for EUR 10 million by July. The pandemic reaffirmed the vision we already had. We observed increased interest in suburban or extra-urban areas and benefited from internal financial resources, allowing us to carry projects through completion.

How does the value of penthouses in Bucharest compare to Western cities like Paris or London?

In Bucharest, one can acquire a four-room apartment for EUR 650k in central areas, a feat impossible in Paris or London. Investing in the Romanian market now is prudent, especially in liquid properties that can be easily resold.

What’s next in terms of developments for One United Properties?

We have 850 apartments under construction and over 2100 in the authorization phase. Projects like One Floreasca City, One Floreasca Tower, and One Verdi Park are underway, each promising spectacular outcomes. Notably, One Peninsula, a multifunctional project, offers a unique blend of city conveniences in a tranquil setting within Bucharest.

What challenges do you face in the Romanian market?

Adapting to legal framework changes remains a challenge, but we focus on agility and adaptability in our strategies rather than dwelling on obstacles.

What’s your message to investors considering the Romanian market?

Investing in Romanian residential and office properties now is wise, historically providing secure investments. Romania’s market is yet to mature, presenting significant growth opportunities if the overall economy is well managed.