One United Properties (BVB: ONE) has signed a preliminary sale and purchase agreement for a 34,800-square-metre plot in Constanța’s Faleză Nord–Pescărie area, one of the city’s most sought-after residential locations, marking a major step in the company’s regional expansion strategy . The planned mixed-use residential development is estimated to reach a gross development value of around €500 million.

The land is strategically located with access from Mamaia Boulevard, at the entrance to the Mamaia resort, offering proximity to the Black Sea coast and key urban infrastructure. The project already benefits from a building permit allowing the construction of seven high-rise buildings, including six residential towers and a five-star hotel, alongside retail and leisure areas, educational facilities, restaurants, gym and spa amenities, a promenade and dedicated parking .

Construction is expected to start in approximately one year, with completion estimated three years after works commence. The development will follow the company’s established model in Bucharest, focusing on energy-efficient buildings, integrated ground-floor services and an emphasis on sustainable urban living.

“Constanța is an important regional growth hub for Romania, with strong long-term urban development potential. Expanding beyond Bucharest is a strategic priority, and Constanța and Sibiu are the first cities targeted under this approach,” said Victor Căpitanu, co-founder and co-CEO of One United Properties .

The Constanța project complements the company’s existing presence on the Black Sea coast through One Mamaia Nord, a premium residential development with two completed phases and a third currently under construction, as well as additional land available for future phases.

The announcement follows another strategic move made this year, with One United Properties signing a precontract for land on the former FLARO industrial platform in Sibiu. The planned development there will combine residential, commercial and service components and include the restoration of four historic buildings, supporting urban regeneration in one of Romania’s fastest-growing regional cities. Together, these projects signal the company’s intention to scale its development model nationally, focusing on cities with solid economic fundamentals and sustained demand.