One United Properties (ONE) Q3 2025 TU earnings summary

Executive summary

• 467 apartments and commercial units sold or pre-sold in 9M 2025, totaling EUR 137.7 million, compared to 713 units and EUR 190.6 million in 9M 2024.

• Average sales price per sqm increased by 22% year-over-year, driven by a sales mix focused on advanced-stage projects.

• 82% of available apartments under development and delivered were sold as of September 30, 2025, with 1,089 units remaining in the portfolio.

• EUR 372.6 million in contracted cash inflows expected by 2027, supporting predictable cash generation.

Segment performance

• Residential: 393 units pre-sold in developments under construction and 74 units sold in finalized developments in 9M 2025.

• Commercial: Headline rent for 9M 2025 was EUR 21.6 million, up 3% year-over-year; 98% of the 144,086 sqm lease portfolio leased or pre-leased.

• 7,739 sqm of office and retail spaces leased or pre-leased, with 21,900 sqm of lease extensions signed in 9M 2025.

Outlook and guidance

• Plans to expand the sales pipeline with new launches, including One Academy Club, One City Club, and One Park Lane.

• Landbank of 467.5k sqm with above-ground building rights for over 1.2 million sqm, supporting future development of 9,650 apartments and 151k sqm of commercial buildings.