One United Properties announces the signing of a promissory sale and purchase agreement for land located in a prime central area of Sibiu, marking the company’s strategic entry into one of Romania’s most dynamic regional cities.
“Sibiu is one of the most exciting urban development opportunities in Romania today. The city has strong fundamentals – a thriving economy, rich cultural heritage, and growing demand for quality urban living. By bringing the ONE standard to Sibiu, we are expanding geographically beyond Bucharest and Constanta, while strengthening our business model through regional diversification and addressing unmet demand in key urban centers. At the same time, we are contributing to the sustainable transformation of underutilized central areas into communities that truly serve modern needs,” said Victor Căpitanu, co-CEO of One United Properties.
The acquired site, located on the former FLARO industrial platform, offers significant potential for urban regeneration. In addition to developing a new mixed-use community that will integrate residential, commercial, and service components, One United Properties will also restore and preserve four existing historical buildings on the site. These heritage buildings, which reflect the industrial and architectural history of Sibiu, will be rehabilitated and reintegrated into the future development.
One of the buildings to be restored is the former Gratioza fountain-pen factory, founded in 1922. As one of Romania’s early producers of writing instruments, Gratioza played an important role in the interwar industrial development of Sibiu. Later nationalized under communist rule and renamed Flamura Roșie, the factory became part of the FLARO industrial group – a key manufacturer of writing instruments throughout the 20th century. Gratioza’s pens were used in correspondence by the Romanian Royal House and are now featured in public collections, including the Brukenthal National Museum in Sibiu.
“Sibiu offers the kind of layered opportunity we rarely see – a strong residential market, rising demand for modern office and commercial spaces, and a city identity shaped by culture and tradition. This new development will allow us to bring all those dimensions together, leveraging our proven expertise in blending restoration with contemporary urban development. It’s truly a unique chance to build something that adds lasting value to the city. Our ambition is to deliver a vibrant, integrated destination that will reflect Sibiu’s identity and will support its long-term growth,” added Andrei Diaconescu, co-CEO of One United Properties.
The transaction is subject to the fulfillment of several conditions precedent, including the issuance of the final building permit, expected by the end of 2026.