One United Properties, controlled by Andrei Diaconescu and Victor Capitanu, bought 5.3 ha of land and a 11,672 sqm office building in Bucharest’s Piata Victoriei area for €39m from Immofinanz. The land used to house the former Bucharest Ventilator factory. One United intends to develop One Cotroceni Park, a mixed-use project with offices, apartments and commercial area, on the property. Construction is scheduled to begin next year.
