Sizzling Success for One United Properties!
In 2024, One United Properties reports a consolidated revenue of €285.5 million and a gross profit of €88.6 million.
One United Properties, Romania's reigning eco-friendly developer of residential, mixed-use, and office real estate, shattered records in 2024 with a preliminary turnover of a whopping €285.5 million, gross profit of €88.6 million, and a net profit of €76.7 million. This powerhouse has transformed into the nation's premier premium real estate company over the past five years, with assets tripling since 2020 and equity quadrupling.
Victor Căpitanu, Co-CEO of One United Properties, proudly declared, "Despite a complex and tricky market scenario in 2024, we've delivered solid results while keeping our loan-to-value ratio at a conservative 27%. We couldn't have done it without the unwavering support of our shareholders, whose trust has fueled our expansion." In 2024, the company was successful in raising €68.3 million from investors, money that will further propel their business growth.
The residential segment accounted for €223.1 million in revenue, albeit a 2% year-on-year decrease as projects moved into later construction phases. However, net income increased by 6% year-over-year, hitting €65.2 million, thanks to higher sales margins as developments progress and sales prices jump. Rental income, including revenues from commercial division and tenant services, witnessed a stunning 17% YoY increase, totaling €30.4 million, with net rental income rising by 24% to €20.7 million.
One United Properties leased and pre-leased 12,850 square meters of office and retail spaces in 2024, a testament to the superior quality of its commercial portfolio. The financial impact of these leases will be felt in future rental income growth. The company wrapped up 2024 boasting a cash position of €86.8 million, marking a 3% year-over-year increase, largely thanks to strong residential sales and pre-sales collections worth €173.8 million.
Looking ahead to 2025, One United Properties is preparing for their most action-packed year yet, with record deliveries and continued expansion of their commercial portfolio. As Co-CEO Andrei Diaconescu puts it, "We're not just constructing homes and office spaces; we're actively boosting the economy, with 17,000 construction workers employed across our 13 active sites, contributing 1.7% of Bucharest's GDP in 2024." They plan to deliver a staggering 2,300 new units in 2025, eclipsing the total number of units delivered in the past 10 years combined.
Enrichment Insights:- One United Properties aims to further expand its footprint in 2025 with ambitious plans, fueled by its impressive financial performance and development pipeline.- Some notable projects in the pipeline for 2025 and 2026 include the One Technology District (office development fully leased to Infineon Technologies) and One Gallery (76% pre-leased).- The company plans to kick-start development on the former Rocar bus factory site in Bucharest, featuring a residential complex with approximately 3,000 units, commercial spaces, recreational facilities, and a park, with the first phase completion expected in 2028.
One United Properties has successfully raised €68.3 million from investors in 2024, a move that will fuel their future business growth in finance and investing. The company's financial success, coupled with ambitious plans for 2025, indicates a strategic focus on expanding their business and real-estate portfolio.
