One United Properties (BVB: ONE), Romania's leading green developer of residential, mixed-use, and office real estate, announces that its Board of Directors has approved a proposal to consolidate the number of the company's shares. The consolidation will be carried out at a ratio of 50 shares to 1. This proposal, aimed at reducing the number of shares, decreasing share price volatility, and contributing to long-term shareholder value, will be voted on by the company's shareholders at the upcoming General Meeting of Shareholders, to be held on October 10th, 2024.
Sports HUB, a non-governmental association specializing in the development of programs and events dedicated to sport and education, is establishing its headquarters in YUNITY Park, the office campus owned by Genesis Property, one of the most prominent office building owners in Romania. Sports HUB, the initiator of the GO Scholarship program, will occupy 770 square meters in building G of YUNITY Park, where a new innovation center will be inaugurated following a total investment of over 50 million euros in the campus.
Romanian entrepreneur Alin Niculae, who controls the largest independent distributor of petroleum products, bought the myhive Iride (Iride Business Park) office building in Pipera.
One United Properties (BVB: ONE), Romania’s leading green developer of residential, mixed-use, and office real estate, recorded a 10% increase in the profitability of the company’s key segments, which comprise the net income from residential properties and net rental income, while consolidated revenues reached EUR 140.6 million in the first half of 2024. Gross profit stood at EUR 53.2 million, while net profit reached EUR 46 million.
The number of commercial properties acquired by Romanian investors is by far the highest in the top ten. 12 properties were acquired between the beginning of the year and the end of August 2024, with prices ranging from EUR 1.4 million to EUR 44.7 million. The Iride office complex in the Pipera district of Bucharest is the most significant acquisition this year by a Romanian investor, Alin Niculae, shows the latest FORTIM Study.
A team of lawyers from Reff & Associates | Deloitte Legal and tax experts from Deloitte Romania assisted the local company Helinick, specialized in the design and implementation of electronic security, fire safety, communications and building management systems, one of the leaders of the local market in the field, in the sale to Convergint, one of the largest global players in this area. The transaction was completed in July 2024 and marks Convergint's entry into the Romanian market.
Copeland, a U.S.-headquartered global provider of sustainable climate solutions, today announced the opening of a new office in Cluj-Napoca, Romania, to help meet the demand for sustainable heating and cooling solutions for Copeland’s European customers.
Romania recorded a 131% y-o-y growth of the real estate transaction volume during H1 2024, reaching a level of €418 million, corresponding to the highest growth rate in the Central and Eastern Europe (CEE). This significant evolution places Romania 3rd in the region, following Poland and Czechia, surpassing Hungary and Slovakia. The retail and industrial segments were the main drivers on the local market, accounting for 90% of the total volume, while office transactions comprised just 4%, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
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