One United Properties (ONE) Q3 2026 TU earnings summary

Executive summary

• Preliminary 9M 2026 trading update; residential sales, pre-sales and reservations totaled €145.5m, while the rental portfolio expanded after One Technology District opened.

• Four residential developments comprising 2,453 units were completed in 9M; 2,238 units were delivered in Q3 alone.

Financial highlights

• Total residential transaction value was €145.5m in 9M 2026 versus €137.7m in 9M 2025; 2026 includes reservations, so the periods are not directly comparable.

• 9M 2026 transaction value comprised €54.5m of sales and pre-sales and €91.1m of reservations; Q3 total was €39.9m.

• Average selling price was €3,807/sqm versus €2,979/sqm in 9M 2025; 339 apartments and commercial units were contracted versus 467.

• Headline rent reached €22.6m in 9M 2026, up 4% YoY.

Outlook and guidance

• Further conversions of H1 reservations into pre-sales and final sales are expected in Q4 2026.

• One Gallery is expected to be finalized and inaugurated in Q4 2026, increasing the lease portfolio to 188.3k sqm.

• Contracted residential customer collections total €447m through 2029, including €110m in Q4 2026 and €194m in 2027.