10.02.2026
What are your company’s business targets and plans for 2026?
Our focus in 2026 is on execution, expansion and long-term relevance. We will continue to invest in urban regeneration and in complete communities, meaning developments where housing is supported by real infrastructure, services and daily-life functions, including education close to home. Actually, education has already become an important part of our agenda. This is why a significant investment was allocated to building two schools in Sector 2 of Bucharest, one within One Academy Club and one in One Lake District, as part of our long-term commitment to intelligent urban planning.
In parallel, we are advancing the next wave of large-scale commercial deliveries that strengthen the quality and resilience of our portfolio, such as One Technology District and One Gallery, a complex restoration project that we believe will add real value to the city. Last year we have also made important steps in expanding intro regional markets with the new projects planned in Sibiu and Constanta. At the same time, we will keep the same discipline on capital allocation and on balance-sheet strength while continuing to build a larger base of recurring income through our office and retail strategy.
What were the main business results for 2025?
The most recent publicly announced results, for the first nine months of 2025, confirm a solid operational year: turnover of EUR 236.3m (+15% YoY), gross profit of EUR 84.8m (+21% YoY) and net profit of EUR 70.3m (+18% YoY).
We also kept construction advancing across major sites, delivered units in completed phases, and maintained active leasing and lease extensions in the commercial portfolio. As of 30 September 2025, we had 3,817 units under construction, plus 22,000 sqm of office and 21,000 sqm of commercial spaces, with a total GDV of over EUR 1.4bn. From a financial standpoint, our leverage remained prudent, with a 31% gross LTV at 9M 2025, proving solid financials and low leverage of the Group compared with the European peers.
What economic pressures or regulatory and fiscal changes do you anticipate impacting the market in 2026, and how is your company preparing for them?
In 2026, the biggest pressure point for the market is not a single variable, it is uncertainty: how fiscal measures are defined and implemented, how predictable the rules are, and how quickly public infrastructure keeps pace with private development. When predictability weakens, decision cycles get longer, both for buyers and for corporate tenants, and capital becomes more cautious.
Our response is to keep the fundamentals tight: phased execution, visibility through pre-sales, cost discipline, and a conservative approach to leverage. We also continue to diversify the business model through recurring income, while developing projects that remain relevant over decades, not just through a market cycle.
What do you see as the main risks for the Romanian real estate market in 2026?
The key risks are planning predictability, as well as the gap between how fast cities grow and how fast mobility, utilities and public services expand. In real estate, the market will increasingly separate “well-thought” developments from the rest, and I expect 2026 to be a year of differentiation: developments with integrated functions, real connectivity and credible execution will perform better, while weaker projects will struggle. There are also the usual execution risks, construction costs, contractor capacity, and permitting timelines, which is why discipline and realistic scheduling matter more than ever.
Where do you see the most attractive opportunities for growth in 2026?
We see opportunity where demand is real and structural: in projects that offer complete living, not just apartments, and in Grade A commercial assets that respond to how companies actually work today. And we remain focused on investments with long-term value for the city: schools, access, and the kind of infrastructure that makes urban growth sustainable in real life. We will continue to be a responsible developer that is going beyond square meters and is investing in sustainable communities, heritage, education, and infrastructure.
