Thursday, 27 August 2026
One United Properties has announced that its consolidated net profit for 2026 will be 15–20% below the level set in the initial budget, due to administrative delays caused by the cyberattack on ANCPI in July.
The National Agency for Cadastre and Land Registration was hit by a ransomware attack on July 14 that brought down the e-Terra system. The platform was restored only in mid-August, while the backlog of applications accumulated during that period continues to be processed by the cadastral offices. Without a land registry record, preliminary agreements and final sale contracts cannot be signed, and property transfers cannot be registered.
“Such delays are expected to postpone certain residential deliveries, the related cash collections, and the recognition of revenue and profit, including in cases where construction has already been completed and the respective units have been contracted by customers,” the company’s management said.
The incident came on top of new legislation that entered into force in December 2025, which makes the signing of preliminary agreements conditional on the completion of cadastral procedures, including pre-condominium registration—the preliminary subdivision of units that allows individual land registry records to be opened before construction is completed.
For projects scheduled for delivery in 2026, the developer had to choose between completing the pre-condominium registration process before handover, which would have delayed deliveries, and proceeding with handover while initially collecting only the 5% reservation fee.
“Management chose to prioritize the completion and handover of the developments scheduled for 2026, rather than delay them in order to complete the pre-condominium registration process,” the report states.
