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One United Properties posts a consolidated turnover of 233.5 million euros and a gross profit of 83.3 million euros in the first nine months of 2023

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BUCHAREST, Romania, Nov. 14, 2023 /PRNewswire/ — One United Properties (BVB: ONE), the leading Romanian green developer of residential, mixed-use and office real estate, posts a consolidated turnover of 233.5 million euros for 9M 2023, a 27% increase compared to 9M 2022. The gross profit reached 83.3 million euros, a 7% increase, excluding the one-off gain from Bucur Obor’s bargain purchase recognized in 2022 of 19.1 million euros. The net profit amounted to 69.8 million euros, an increase of 5% compared to 9M 2022 (excluding the Bucur Obor gain impact).

One United Properties closed Q3 2023 with a significant cash position of 91.4 million euros, a 14% QoQ increase due to the delivery of One Verdi Park, One Floreasca Vista and One Timpuri Noi, resulting in clients signing final agreements and paying the last tranches on the purchased units. The amounts to be received under contracts concluded with customers as of September 30th, 2023, reached 305 million euros in additional cash by 2025. The gross loan-to-value indicator amounted to 29%, stable since the beginning of the year.

Q3 2023 was an exceptional quarter in the history of One United Properties. Despite the broader Bucharest residential market facing a 3.8% year-over-year decline in sales, we have defied market trends by successfully selling a record 329 apartments in Q3 alone, representing a 254% increase year-on-year. This achievement highlights the unique positioning that One United Properties has in the market, where in an increasingly challenging real estate context, clients choose to fly to quality and are drawn by our reputation, reliability, and an unparalleled confidence in our product. Our achievements in Q3 have propelled us to another significant milestone – surpassing a consolidated turnover of over 1 billion lei in the first nine months of the year, marking a substantial 27% increase over the previous year. This accomplishment is a clear indicator that we are not only on track to meet our annual budget but are also thriving in a challenging market context due to our strategic foresight and operational excellence,” said Victor Capitanu, co-CEO at One United Properties.

The increase in turnover was supported by a 46% increase in revenues from residential property sales, which reached 177.4 million euros in 9M 2023 versus 121.1 million euros in 9M 2022. The growth was driven by enlarged and more diverse residential offerings, particularly at One Lake District, One High District, and One Lake Club, the best-selling developments of 2023. The net income from residential property decreased 10% YoY, reaching 50.9 million euros in 9M 2023 due to the revenue recognition of the new developments where the construction works began as of Q4 2022. At the same time, 524 residential units at One Verdi Park, One Floreasca Vista and One Timpuri Noi were finalized.

In the first nine months of 2023, One United Properties sold and pre-sold 795 apartments (+206% YoY) with a total surface of 66,212 sqm (+170% YoY) and 1,310 parking spaces and other unit types (+114% YoY) for a total of 230.2 million euros (+122% YoY). As of September 30th, 2023, 68% of all available apartments were sold out, with One Lake District being the year’s best-seller thus far, with 348 units from the first phase being already sold out.

2023 is shaping to be a milestone year for One United Properties. We are on track to deliver nearly 1,500 residential units to our clients, a significant achievement amplified by our efficient management of seven active construction sites simultaneously. This dual capacity to deliver on existing commitments while actively pursuing new developments demonstrates our business’s maturity and operational excellence. Beyond our accomplishments in the residential sector, we see a robust growth in the commercial segment, which almost doubled revenues versus 2022, and will continue to grow well into 2024. A highlight of Q3 2023 was the landmark agreement with Infineon Technologies, entrusting us with a build-to-suit development in a deal exceeding 57 million euros. This agreement underscores our capability to execute large-scale, tailored projects. Moreover, the recently announced collaboration with Armani/Casa for the One Lake Club project introduces a unique concept to Bucharest’s real estate market, while our partnership with Ennismore for the launch of the Mondrian Bucharest Hotel marks a pivotal expansion into hospitality. These partnerships, along with the continued trust from our clients and reputable global organizations, affirm that One United Properties is the go-to partner for those looking to capitalize on the burgeoning growth opportunities in Bucharest real estate market,” said Andrei Diaconescu, co-CEO at One United Properties.

The rental income, including the income generated by the commercial division and the revenues from the tenant services, saw a 90% increase, reaching 20 million euros versus 10.5 million euros in 9M 2022. The effect has been driven by the revenues coming from the entire portfolio, but particularly One Tower (leased 100%), One Cotroceni Park 1 (leased 88% as of September 30th, 2023), One Victoriei Plaza (100% leased), as well as the impact of the results generated by Bucur Obor, consolidated under the retail division. The revenues from rental income will continue to grow in the coming quarters due to the impact of One Cotroceni Park 2, currently leased 60%, where most tenants are still in the fit-out phase. As of the end of September 2023, the company’s office portfolio GLA totals 118,000 sqm, and the commercial portfolio, which includes Bucur Obor and One Gallery, has GLA of approximately 160,000 sqm.

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One United Properties (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings. It has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, MSCI, FTSE, STOXX, ROTX and CEEplus.

 

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New Report: What rises in the East and goes down in the West? Ambition to lead

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  • Work is more important to professionals in ‘Global South’ countries than it is to their peers in Western countries.
  • They also place more value on working longer hours, with a significant percentage of professionals in China and India willing to work more than 40 hours a week.
  • Westerners lack leadership ambition – only 42% of respondents express a desire to lead or establish a business. In the Global South 65% hold this aspiration.
  • Global executive search & leadership advisory firm Amrop surveyed 8,000 people in Brazil, China, France, Germany, India, Poland, the UK, and US on the meaning of work.

BRUSSELS, Dec. 23, 2024 /PRNewswire/ — Professionals in Western countries are less ambitious and less interested in work than their ‘Global South’ peers, a new global study by Amrop, a leading global executive search and leadership consulting firm, reveals.

“The drive and ambition in India, Brazil, and China highlight a contrast with the aging societies in the West. As Western nations also face a scarcity of qualified professionals, the ambition of their workforce becomes a decisive factor for growth, economic success, and wealth preservation,” states Annika Farin, Global Chair at Amrop. “Stakeholders should encourage entrepreneurship and foster interest in both professional and personal growth in workers.”

Notably, 92% of Indians and 87% of Brazilians say they enjoy working, while the sentiment is lower in Germany (71%), the US (69%), and the UK (68%), as well as other European countries. Significant variations emerge in how respondents prioritize their careers: 84% in India assert that a successful career is crucial for a good life, with high agreement also in China (71%) and Brazil (70%). Conversely, only 43% in Germany, 40% in France and 37% in Poland share this perspective. In other Western countries such as the US and UK, over half of respondents consider their careers vital for a good life.

India Leads with Impressive Work Ethic and Work-Life Balance

However, divergent work ethics surfaced among Western countries as well, with 70% in the US prioritizing hard work, contrasting starkly with the 35% in France who share the same belief. In this context, India leads at 75%, surpassing Brazil (55%) and China (63%). Chinese professionals also lean more towards career over private life. Work hours reveal distinctions: 46% in China and 42% in India are willing to work over 40 hours, while 29% in the UK, 27% in Germany and only 16% in France, are open to longer working hours. At the same time 73% in India and 59% in China assert that they have a healthy work-life balance, contrasting with 45% in France and 49% in Germany.

“This observation is intriguing. Working fewer hours doesn’t necessarily improve one’s perception of work-life balance. If any connection exists, it appears to be the other way around – professionals willing to work longer hours also seem to have a greater sense of work-life balance. In Europe, especially, we need follow-up studies to find out where these sentiments are coming from, so we know how to reignite the passion for work,” says Farin.

The Lack of Leadership Ambition Extends to Politics

Further results from the survey show that the Global South countries demonstrate a higher aspiration for leadership roles and entrepreneurial ventures. Notably, 76% in India express a desire to run or manage a company, followed by 66% in Brazil and 54% in China. In contrast, the UK (52%), the US (49%), France (37%), and Germany (36%) trail in these aspirations. The global lack of leadership ambition extends to politics, with respondents deeming it the least desirable career across most countries. Only 19% express a motivation to make a positive impact, with 51% prioritizing financial stability and 39% aiming for a specific lifestyle.

Looking at these results, Farin emphasizes a further concern, “In surveying individuals with at least a bachelor’s degree across various countries, our results prompt a crucial question: If most professionals lack ambition for high-level leadership, who will shape the future of economies and societies? Our societies rely on people, their expertise, and motivation. Are we approaching a future where we question not only corporate leadership but also national leadership?”

About the Survey

An online survey was conducted and gathered insights from 8,000 participants, with 1,000 respondents from each of the following countries: Brazil, China, France, Germany, India, Poland, the US, and the UK.

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The survey aimed for representativeness across these diverse nations, capturing perspectives from individuals aged 20 to 60 (Gen Z: 20-26, Young Millennials: 27-34, Old Millennials: 35-42, Gen X: 43-60), all possessing at least a bachelor’s degree. Where applicable, reported results represent the top two answer sets (strongly agree/agree).

About Amrop

Amrop is a global leadership consulting firm, offering retained executive search, Board and leadership advisory services. We advise the world’s most dynamic, agile organizations on identifying and positioning Leaders For What’s Next – adept at working across borders, in markets around the world. Established in 1977, Amrop operates in Asia, EMEA and the Americas across 69 offices in 57 countries.

www.amrop.com 

Contact:
The Amrop Partnership SC
Rue Abbé Cuypers 3
1040 Brussels, Belgium
T. +32 471 733 825
E. [email protected]
Brigitte Arhold, COO

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Siraj Finance PJSC signs an agreement with Azentio for iMAL core and digital financial services solution subscription optimization

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SINGAPORE, Dec. 23, 2024 /PRNewswire/ — Siraj Finance PJSC, a leading Islamic Finance Company in the UAE, has signed an agreement with Azentio, a pioneer in the core banking technology service provider. The agreement represents the collaboration for implementation of the core and digital banking solution to further enhance the operational capabilities and digitization of Siraj Finance’s product and service offerings. The step is directly in line with Siraj Finance’s goal of providing diversified Islamic financial products and services via channels that are innovatively utilizing latest technology while remaining customer centric and regulatory compliant.

Mr. Amjad Hijazi – Chief Operating Officer, Mr. Joseph Daniel – Chief Business Intelligence & Strategy Officer, Mr. Syed Moosa Kaleem Al Falahi – Chief Business & Investment Officer and Mr. Fazal Nassim – Chief Governance & Compliance Officer represented Siraj Finance, whereas Mr. Rahul Arora – Chief Sales Officer, Mr. Harkaran Singh – Senior Vice President, Middle East & Africa, Mr. Zaher El Khatib – Vice President Global Islamic Banking Sales, Mr. Alfred Quertier – Director Global Sales Engineering and Mr. Bhushan Kelkar – Vice President Sales represented Azentio, in the signing ceremony.

Commenting on the partnership, Mr. Amjad stated, “We are delighted to be working with Azentio as our technology partner of choice to empower our ongoing business growth. For us, iMAL and its comprehensive functionality coupled with the adherence to Islamic principles, align with our goals, allowing our team to streamline processes, enhance productivity and elevate the omnichannel customer journey.”

Mr. Rahul added, “We are extremely pleased to partner with Siraj Finance to deliver a user-friendly digital financial services experience to both their retail and corporate customers. This partnership reflects our ongoing commitment to empowering financial institutions in the region with cutting-edge technology designed to meet both current and future needs.”

About Siraj Finance

Siraj Finance is a private joint stock company based in Abu Dhabi and regulated by the Central Bank of the UAE. Established in 1999, it proudly offers a multitude of financial products, designed in compliance with the Sharia principles. It caters to Corporates, Small and Medium Enterprises (SMEs) and individuals, with the objective of providing a variety of tailored product and service options that are best fit for their aspirations and needs.

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DAZN ADVANCES GLOBAL EXPANSION WITH ACQUISITION OF FOXTEL, A LEADING AUSTRALIAN SPORTS AND ENTERTAINMENT MEDIA GROUP

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  • Milestone deal for DAZN’s position as the global home of sport.
  • This acquisition establishes DAZN’s sports platform in Australia, one of the world’s most attractive sports markets.
  • Foxtel Group will leverage DAZN’s global reach, industry-leading technology and extensive content portfolio to further enhance the viewing experience for Australian sports fans.

LONDON, NEW YORK, and SYDNEY, Dec. 22, 2024 /PRNewswire/ — DAZN, a world-leading sports entertainment platform, has today announced an agreement to acquire Foxtel Group (‘Foxtel’) from its majority shareholder News Corp and minority shareholder Telstra at an enterprise value of US$2.2 billion, subject to regulatory approval.

The acquisition establishes DAZN as a leader in sports entertainment in Australia – a highly attractive sports market – while also expanding DAZN’s global footprint and enhancing the group’s standing as the global home of sport. The addition of Foxtel to DAZN brings the Group’s pro-forma revenues towards US$6 billion and provides the additional content, expertise, and expansion opportunities to accelerate DAZN’s growth trajectory.

Foxtel is one of Australia’s leading media companies, with 4.7 million subscribers, who will benefit from DAZN’s extensive portfolio of sports content, platform technology, and global reach.

From its beginnings as Australia’s original pay-TV innovator, Foxtel has evolved to become a digital and streaming leader in sports and entertainment and the proposed transaction positions Foxtel for continued expansion as a digital-first, streaming-focused business. Foxtel will maintain its local character, led by the CEO, Patrick Delany, and his world-class management team.

DAZN, a sports streaming platform with a truly global reach, is committed to growing the global audience for domestic Australian sports across the 200 territories in which it is available.

Under the terms of the transaction, News Corp and Telstra will become minority shareholders in DAZN, enabling them to retain an interest in Foxtel.

Shay Segev, Chief Executive Officer of DAZN, said: “Australians watch more sport than any other country in the world, which makes this deal an incredibly exciting opportunity for DAZN to enter a key market, marking another step in our long-term strategy to become the global home of sport. Foxtel is a successful business that has undergone a remarkable digital transformation in recent years, and we are confident that our global reach and relentless pursuit of innovation will continue to drive the business forward and ensure long-term success.

“We are committed to supporting and investing in Foxtel’s television and streaming services, across both sports and entertainment, using our world-leading technology to further enhance the viewing experience for customers. We are also committed to using our global reach to export Australia’s most popular sports to new markets around the world, and we will continue to promote women’s and under-represented sports.

“We’re looking forward to working closely with Patrick Delany and his team, as well as News Corp and Telstra as shareholders in DAZN, to realise our ambitious vision for the future of sport entertainment.”

Siobhan McKenna, the Chairman of Foxtel, said the agreement with DAZN was international recognition of the transformation of Foxtel from an incumbent pay TV operator to a sports and entertainment digital and streaming leader. “Over the last seven years the Foxtel team, with the strong support of News, have achieved an extraordinary turnaround in an intensely competitive environment.”

Foxtel Group CEO, Patrick Delany, said: “Today’s announcement is a natural evolution for the Foxtel Group, having reinvented the company over the past five years as Australia’s most dynamic technology-led streaming company.

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“Kayo and Foxtel provide Australian sports fans with access to the best Australian and international sport and shows, including AFL, NRL and Cricket with 4.7 million subscribers.

“We are excited by DAZN’s commitment to the Australian market. They are experts in the sports media business and can play a significant role in supporting Foxtel as the business grows its streaming capabilities, bringing a bigger and better service to customers across entertainment, news and sport. They are a perfect match for us as we look toward this next era of growth.

“We have been grateful for the support of News Corp while we reimagined the future of Foxtel. In 2019, when we merged Foxtel and Fox Sports we had many people questioning our future.

“After launching Kayo later in 2019 and BINGE in 2020, today we are the largest Australian-based streamer of sport and entertainment, we have stabilised our Foxtel base and launched Hubbl to help consumers find all the streamed content they love all in one place. This wouldn’t have been possible without the support and encouragement of News Corp.”

 

NOTES TO EDITORS

About DAZN

As a world-leading sports entertainment platform, DAZN streams over 90,000 live events annually and is available in more than 200 markets worldwide.

DAZN is the home of European football, women’s football, boxing and MMA, and the NFL internationally. The platform features the biggest sports and leagues from around the world – Bundesliga, Serie A, LALIGA, Ligue 1, Formula 1, NBA, Moto GP, and many more including the 2025 FIFA Club World Cup.

DAZN is transforming the way people enjoy sport. With a single, frictionless platform, sports fans can watch, play, buy, and connect. Live and on-demand sports content, anywhere, in any language, on any device – only on DAZN.

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DAZN partners with leading pay-TV operators, ISPs and Telcos worldwide to maximise sports exposure to a broad audience. Its partners include Deutsche Telekom, Orange, Sky, Movistar, Telenet, Vodafone, and many more.

DAZN is a global, privately-owned company, founded in 2016, with more than 3,000 employees. The Group generated $3.2bn in revenue in 2023, having grown its annual revenues by over 50% on average from 2020 to 2023, through diverse revenue streams comprising subscriptions, advertising, sponsorship, and transactional. For more information on DAZN, our products, people, and performance, visit www.dazngroup.com.

 

About Foxtel

The Foxtel Group is one of Australia’s leading media companies with 4.7 million subscribers. Its businesses include subscription television, streaming, sports production and advertising. The Foxtel Group is owned 65% by News Corp and 35% by Telstra.

The Foxtel Group’s diversified business includes Fox Sports, Australia’s leading sports production company, famous for live sports and shows with the best commentators and personalities. It is also the home of local and global entertainment content and continues to be the partner of choice for the widest range of sports and international content providers based on established, long-term relationships, growing streaming audiences, and position as the largest Australian-based subscription television company.

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