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ONE UNITED PROPERTIES UNVEILS ‘ONE 2030’ – STRATEGIC VISION TO TRANSFORM THE BUCHAREST REAL ESTATE MARKET

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BUCHAREST, Romania, April 18, 2024 /PRNewswire/ — One United Properties, the leading green investor and developer of residential, mixed-use and office real estate in Romania, has launched ONE 2030, a transformative strategy to reshape Bucharest’s real estate market and showcase the city as a market of choice for international investors.

ONE 2030 targets a tripling of One United Properties’ residential operations, continued expansion of the group’s commercial operations and will see it establish its hospitality division with global lifestyle brand hotels in Bucharest.

ONE 2030 strategy at a glance

  • 11,000 residential units completed
  • Secure landbank for a further 20,000 residential units, the majority of which will be under development or in planning under premium and affordable premium sub segments
  • 275,000sqm gross leasing area of office and retail space
  • Future expansion of the office and retail division will respond to specific demand
  • Development of six hotels in partnership with global lifestyle hospitality brands – Mondrian Bucharest already signed and The Hoxton under exclusive negotiations, with three hotels targeted to be operational by 2030 and three under development

Residential division

The ONE 2030 strategy addresses the increasing demand in Bucharest for quality residential housing, which is being driven by changing urban dynamics within the city such as the rise in dual income households and residents’ value of convenience and access to urban amenities.

One United Properties plans to expand beyond its current residential segment focus of luxury, premium, and high-end developments and will accelerate the development of affordable premium residential which targets Bucharest’s middle class. It has land under negotiation for a further 10,000 residential units exclusively for this sub-segment, with the first memorandum of understanding for a 21 hectares plot of land that will host 5,000 units being already signed.

Commercial division

Under the ONE 2030 strategy, One United Properties will focus its commercial division on developing fully customisable office spaces that cater to its partners’ needs and are agreed on a long-term basis. The company will also drive demand from environmentally conscious tenants through using geothermal and solar energy to create new sustainability standards in office development.

Hospitality division

One United Properties announced its intention to enter the Bucharest hospitality market in March 2024 through a partnership with global lifestyle hotel group Ennismore to open the first Mondrian hotel in the CEE region. One United Properties is also in exclusive negotiations to bring The Hoxton to Bucharest.

This move follows Romania’s inclusion in the Schengen Area and leverages Bucharest’s growing popularity amongst both tourists and multinational corporations to expand their presence in CEE. One United Properties will revitalise Bucharest’s neglected historic buildings to bring globally recognised luxury and lifestyle hotel and food & beverage brands to the city.

By 2030, One United Properties aims to have six hotels across Bucharest, with half of these being in operation by the end of the decade.

Increased liquidity and reinvestment to support ONE 2030

In April 2024, significant shareholders of One United Properties, including co-founders Andrei Diaconescu and Victor Capitanu, sold a proportion of their respective shareholdings in the company to institutional investors. Following the transaction, Diaconescu and Capitanu jointly own 50.03% of the business.

This strategic sale increases the company’s liquidity, strengthens One United Properties’ shareholder base and bolsters governance by increasing institutional investor ownership of the business. The majority of the proceeds from the sale will be reinvested into the company through the next share capital increase, supporting the continued development and expansion in line with One United Properties’ ONE 2030 strategy.

Victor Capitanu, Co-founder of One United Properties, commented: “ONE 2030 is not just a vision; it’s our commitment to redefine Bucharest’s real estate landscape and position the city, and Romania, as an enticing investment opportunity.

Through our strategic blueprint, we are not only expanding our residential and commercial segments but also pioneering sustainability and innovation in every aspect of development. With a relentless focus on quality, technology, and sustainability, we’re shaping a future where Bucharest stands tall as a premier destination for international investors and a thriving hub for luxury living.” 

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, and 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, STOXX, MSCI, FTSE, ROTX and CEEplus. 

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PB Fintech slips 2% after over 8 million shares change hands via block deal

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PB Fintech witnessed a 2% decline in its stock price, reaching Rs 1,313.65 per share, as approximately 8.4 million shares, equivalent to 1.86% of outstanding shares, were exchanged via block deals on the exchanges. By 9:44 AM, the volume surged to 9 million shares collectively on both exchanges, while PB Fintech’s stock price dipped by 0.56% to Rs 1,333 apiece, contrasting with a 0.22% decline in the S&P BSE Sensex.

Executive Share Sales

On May 16, PB Fintech announced that its Chairman and CEO, Yashish Dahiya, alongside Vice Chairman and Whole-time Director, Alok Bansal, intended to sell partial stakes in the company. Dahiya plans to sell up to 5.4 million equity shares, while Bansal aims to divest up to 2.97 million equity shares. Proceeds from the sale will be allocated primarily towards taxes on current and future ESOP exercises.

Following the sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. The company clarified that no further share sales are planned by the duo for at least one year.

Company Profile and Financial Performance

PB Fintech is actively involved in providing integrated online marketing and IT consulting services, primarily for the financial services industry, including insurance. The company operates Policybazaar, India’s largest digital insurance marketplace, and Paisabazaar, which offers lending-related services.

In Q4FY24, PB Fintech reported a net profit of Rs 60.19 crore, marking a significant improvement from the Rs 9.34 crore loss in the corresponding period of the previous year. The company’s revenue from operations surged by 25.4% year-on-year to Rs 1,090 crore in Q4 FY24, compared to Rs 869 crore in Q4 FY23.

For the entire fiscal year, PB Fintech’s net profit stood at Rs 64 crore, contrasting with the Rs 488 crore loss in FY23. The company’s consolidated operating revenue rose by 34% year-on-year to Rs 3,437 crore.

Analyst Perspectives

Analysts at Nuvama Institutional Equities raised their FY25/26 Ebitda estimates significantly to accommodate higher growth and improved profitability. However, they maintained a ‘Reduce’ rating on the stock due to its rich valuation, revising their target price to Rs 1,160.

Keynote Capital downgraded PB Fintech’s stock to ‘Reduce’ from ‘Buy’, citing that most of the positives appear to be priced in. Despite acknowledging the company’s positive momentum and profitability, the brokerage believes that current market expectations may be overly optimistic.

PB Fintech continues to navigate its growth trajectory amidst strategic initiatives and evolving market dynamics, as reflected by varying analyst viewpoints.

Source: business-standard.com

The post PB Fintech slips 2% after over 8 million shares change hands via block deal appeared first on HIPTHER Alerts.

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US fintech Yendo secures $165m in mix of debt financing and equity

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Yendo, a prominent fintech company based in the United States, has successfully secured $165 million in funding through a combination of debt financing and equity investment.

Funding Structure

The funding round comprised a mix of debt financing and equity infusion, highlighting investors’ confidence in Yendo’s growth prospects and business model. This significant financial injection underscores Yendo’s position as a key player in the fintech sector.

Investment Highlights

Yendo’s ability to attract such substantial investment underscores its appeal to investors. The company’s innovative approach and strategic positioning within the fintech landscape have positioned it for accelerated growth and market expansion.

Utilization of Funds

The newly raised capital will likely be deployed to fuel Yendo’s expansion initiatives, including product development, market expansion, and strategic acquisitions. The infusion of funds will provide Yendo with the financial resources needed to capitalize on emerging opportunities and consolidate its market position.

Market Impact

Yendo’s successful funding round is expected to have a positive impact on the broader fintech market, signaling investor confidence in the sector’s growth potential. The influx of capital into Yendo reflects the ongoing trend of significant investment activity within the fintech industry, driven by increasing demand for innovative financial solutions.

Source: fintechfutures.com

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Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub

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Commerce Bank, headquartered in Kansas City, USA, has recently activated the FedNow instant payments service as part of its ongoing modernization efforts.

Collaboration with Temenos

Commerce Bank has partnered with Temenos, a leading Swiss vendor, to enhance its real-time payment capabilities. This collaboration builds upon Commerce Bank’s previous deployment of Temenos’ core banking platform in 2022 and its adoption of the Infinity loan origination solution earlier this year.

Utilization of Temenos Payments Hub

Commerce Bank has opted for the Temenos Payments Hub to integrate the FedNow service seamlessly. According to Temenos, this choice aims to amalgamate advanced banking products with cutting-edge delivery methods.

Insight from David Roller

David Roller, CIO of Commerce Bank, views this selection as a strategic step in their modernization journey. He emphasizes the bank’s commitment to meeting the evolving expectations of its customers by leveraging the capabilities offered by the Temenos platform.

Features of the Platform

The Temenos Payments Hub, delivered via Software-as-a-Service (SaaS), offers a comprehensive suite of payment tools and frameworks. These include features like straight-through processing, automated exception handling, cloud security measures, intelligent routing, and customizable workflows.

Leveraging the US Model Bank

In addition to the Temenos Payments Hub, Commerce Bank has also leveraged Temenos’ US Model Bank. This collection of pre-configured banking processes is tailored to address the specific requirements of the US market, further enhancing Commerce Bank’s operational efficiency and customer service.

Source: fintechfutures.com

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