One United Properties Acquires 34,800 sqm Plot of Land in Constanţa

One United Properties announces the signing of a preliminary sale and purchase agreement for a 34,800 sqm plot of land in Constanța, on the Black Sea coast. The land that the company is set to acquire from the Alezzi Group, a well-known local real estate developer, is located in the Faleză Nord-Pescărie area, one of the most highly rated districts in the city, with easy access to both the beach and the main points of urban interest.

The land benefits from access to Mamaia Boulevard and is located in the northern part of the city, right next to the entrance to Mamaia resort. The building permit already issued for this land allows for the construction of seven tower blocks, six of which will be residential and one a 5-star hotel, a commercial and leisure area, a school and kindergarten, a restaurant area, a gym/spa, a promenade, as well as the necessary parking spaces for the complex. On this land, One United Properties intends to build a residential development with integrated commercial functions. The gross development value is estimated at approximately EUR 500 million. The land already has a building permit, so work will begin in about a year, and completion is estimated in about three years from the start of construction.