Genesis Property invests EUR 50 mln in Novo Park business center in Bucharest

Genesis Property, one of the leading Class A office developers in Romania, announced on April 28 that it started the transformation of Novo Park business center in northern Bucharest into YUNITY Park, a new real estate concept. The project is expected to be completed in the first three months of 2023, with a total investment of EUR 50 million.

As part of this project, the outdoor parking area will be transformed into a green area that will cover 7,500 sqm. The space will include a cutting-edge amphitheater dedicated to outdoor events and a 1,000 sqm urban forest where employees will be able to hold business meetings. YUNITY Park will also have an outdoor terrace serving a 4,000 square-foot food hall.

Indoor, the YUNITY Park project includes co-working and co-living spaces, an ultra-modern conference center with a total capacity of 540 seats, a 190-seat café-restaurant, as well as entertainment, fitness and specially designed areas for socializing and relaxing.

At the same time, the seven existing buildings, which have a leasable area of 75,000 sqm, will also be refurbished.

Genesis Property owns and operates over 150,000 sqm of prime commercial real estate space for blue-chip clients such as HP, Accenture, Societe Generale, Citibank, Ericsson, Garanti BBVA, Infineon, Luxoft, Yokogawa, Siemens and Alpha Bank, where more than 20,000 employees work.

In 2020, the developer launched the IMMUNE Building Standard, an innovative global standard that certifies the resilience of buildings to health threats such as the COVID-19 pandemic.

Genesis Property is also the developer of the first private student campus in Romania, West Gate Studios, and a 4-star accommodation unit, Studio One Accommodation Suites.

(Photo source: Genesis Property)