One United Properties (BVB: ONE) has acquired a 14,295 square meter land plot near Lake Tei in Bucharest for a future mixed-use project, One Academy Club. The transaction is valued at €11.4 million and was settled through compensation with future residential and commercial units to be developed on the site.

The new development will comprise approximately 150 apartments, 6 commercial spaces, and 254 parking spaces. In addition to residential offerings, One Academy Club will include a private school and kindergarten with integrated educational infrastructure such as a gym, canteen, library, and outdoor sports court. The project is positioned near other developments in the company’s portfolio, including One High District and One Lake Club.

Located on Radu Tudoran Street—a four-lane road that runs parallel to Fabrica de Glucoză—this site is part of a highly dynamic urban zone in northern Bucharest. The company emphasized the strategic importance of investing in this area, which is witnessing accelerated urban transformation.

According to Victor Căpitanu, co-founder and co-CEO of One United Properties, the new project aligns with the company’s broader vision of urban responsibility. “The area around Lake Tei is one of the most dynamic spots on Bucharest’s urban development map, and we’re excited to be actively contributing to shaping the future of this district,” he stated. “This development will complement our portfolio in a highly desirable area of Bucharest with excellent prospects.”

The gross development value (GDV) for One Academy Club is estimated at €50 million. Construction and pre-sales are expected to begin within 2025, pending the issuance of the building permit. Project completion is projected for the fourth quarter of 2027.