ROMANIA One United to develop 5-star hotel in Bucharest

The building, at Strada Georges Clemenceau 8-10, has been bought from an undisclosed buyer for EU 13.5 mln. It remains incomplete but once finished will have a gross built-up area of 10,154 sqm. One United Properties now plans to complete the development and open the 100-room One Plaza Athénée in the building, which will also have a swimming pool, a spa, restaurants, and other facilities on the ground floor. It is expected to open in 2025. The gross development value of the project is estimated at EUR 48 mln.

We are delighted with this acquisition of an unfinished, abandoned building in an area with a special history for the city. We are thus able to increase our company’s efforts to engage in the regeneration of the centre of Bucharest. One Plaza Athénée will become a landmark development on the 5-star hotel map. We are negotiating with several global hotel brands for the operation of the hotel with a multi-year contract. With its location in the very heart of the city, the future lifestyle hotel will offer a wide range of commercial, cultural and entertainment options.
Victor Căpitanu, the co-founder of One United Properties

In Q3 2019, the developer bought the Casa Braikoff building at Strada Georges Clemenceau 2, with plans to re-develop it into the One Athénée luxury apartment project. In December 2022, the company has already acquired three historic buildings on Strada Academiei, also in the centre of Bucharest, which it plans to restore and transform into One Downtown, with either or both residential and hotel functions.