One United has acquired 8.2 ha along the shore of Lake Plumbuita in Bucharest in a deal worth nearly €8m. The seller was First Bank, formerly Piraeus Bank. One United plans to develop a new neighborhood on the site with 1,000 apartments. The project, One Lake District, will also include a supermarket, fitness center, medical clinic and kindergarten. Construction isn’t likely to start for another one to two years as One United finalizes its design plans and secures all the necessary permits. Completion will follow three to four years later.
