One United Properties (BVB: ONE), a major developer of residential, mixed-use, and office real estate in Romania, signed a memorandum of understanding with EVERGENT Investments, one of Romania’s largest investment funds by market capitalization, on Monday, April 27, to develop a new project in Iași, eastern Romania.
The memorandum, concluded through specialized subsidiaries, aims to develop a plot of land with an approved urban development plan, located in a prime central area of Iași. The initiative is part of One United Properties’ regional expansion strategy.
Iași is the third city in Romania with significant development prospects for ONE, following Sibiu and Constanța.
“Iași is one of the regional cities we have actively monitored as part of our selective expansion strategy; here we have found a diversified economy, a long-established university center, and improved connectivity. At the same time, we aim to help transform areas with potential into modern communities, based on a model that has already proven successful in the Bucharest market,” said Victor Căpitanu, co-founder and co-CEO of One United Properties.
EVERGENT Investments, through its subsidiary Everland, is contributing the land with an approved zoning plan, thereby removing significant barriers and enabling the rapid commencement of the design and construction phases.
“Through its partnership with One United Properties, EVERGENT Investments has laid the groundwork for a large-scale project, built to the highest standards, on an approximately 25,000-square-meter site. This initiative represents an important step toward leveraging our real estate assets and creating value for shareholders,” said Cătălin Iancu, CEO of EVERGENT Investments.
The plot covers an area of 2.5 hectares and is located in the city of Iași, in a central area. The land has an approved zoning plan, and One United Properties intends to develop a mixed-use complex with integrated apartments and offices, complemented by retail spaces designed to enhance its value.
The project represents a major urban reconversion project in a formerly unused industrial area.
Iași is the third-fastest-growing city in Europe over the past 15 years, alongside Wrocław in Poland, with growth driven by the IT and real estate sectors, according to an analysis by the research firm Oxford Economics, and the city’s GDP grew, on average, by approximately 5.5% per year between 2010 and 2025.
The city has become the second modern regional office hub, after Cluj, according to an analysis by Cushman & Wakefield Echinox, which highlights the market’s maturity and development opportunities.
(Photo source: press release)
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