One United Properties acquired a 44,863 sqm plot of land located at Soseaua Progresului 56-80, in district 5. One Cotroceni Towers will be developed here, a new mixed-use development that will feature the highest residential towers in Bucharest.
The residential component of One Cotroceni Towers will accommodate 1,296 units spread over five towers. Two towers will have 33 floors, thus becoming the tallest residential development in Bucharest and the region.
The other two towers will have 23 floors, while one building will have 16 floors. The residential towers will be connected at the ground floor and first floor levels, and will have commercial spaces, a gym with pool, food markets, restaurants, afterschool for kids.
Additionally, the mixed-use development will also include a stand-alone office building with a Gross Leasable Area (GLA) of approximately 48,000 sqm, which will be named One Cotroceni Park Offices Phase III.
The mixed-use development, with a Gross Development Value (GDV) estimated in the range of 400 million euros, will be delivered in three phases, with the final completion date being 2027. The property already has a legal and valid building permit in place.