Romania’s One United Properties has secured €37.5 mln in financing for its One Technology District project.

One Technology District

One Technology District

The financing package includes a €28.5 mln construction loan, which will convert to a €37.5 mln investment loan upon project completion, plus a €4 mln VAT facility.

One Technology District, set to be Southeastern Europe's largest semiconductor R&D centre, is being built for Infineon Technologies in Romania.

The loan, maturing in June 2033, will fund the turnkey development, which One United Properties will lease to Infineon for 15 years starting in 2026. Erste Group Bank and Banca Comerciala Româna arranged the financing.

Andrei Diaconescu, co-CEO One United Properties, commented: ‘One Technology District, an office and research lab campus built to the highest standards of sustainability, is the kind of project that confirms the attractiveness of the local market for global players. It is developed based on cutting-edge sustainable principles that will allow the building to operate completely gas-free, thus positioning it among the most sustainable developments in Europe. This investment is a confirmation for the potential of the Romanian market and supports our strategy to focus on the development of fully leased and pre-leased green office projects.’

Construction is underway on the developer's first gas-free office project. A geothermal system will provide both heating and cooling, minimizing environmental impact and maximizing efficiency. This innovative approach eliminates traditional heating systems, freeing up space for employee amenities. Rooftop solar panels and heat recovery units further enhance the building's sustainability, contributing to its targeted LEED Platinum certification and exceptional energy performance.

One Technology District marks the first 15-year, turnkey office development in Romania since the pandemic began. The €57 mln (excluding VAT) deal represents one of the largest pre-lease agreements in the local office market's history.

Located in Bucharest's established Dimitrie Pompeiu office district, One Technology District offers convenient access to public transit, including a nearby metro station, as well as shopping, entertainment, and the A3 highway. The development will also provide 280 parking spaces.