Bucharest office compound Novo Park gets EUR 0.8 mln upgrade

Romanian real estate investor Genesis Development recently invested EUR 800,000 in new facilities and infrastructure and landscaping works within its Novo Park project in northern Bucharest. The company invested EUR 300,000 in a cafeteria located in building G, which has a total area of 530 sqm and a capacity of 200 people. Another EUR 500,000 has been invested in infrastructure works carried out in the building G area, as well as landscaping works. “These investments are part of the continuous improvement program Genesis Development carries out in both Novo Park and West Gate - the second office compound the company owns in western Bucharest,” reads the company’s statement. The Novo Park office complex comprises seven buildings with a total leasable area of around 75,000 sqm, 1,100 parking places, and has an occupancy rate of 98 percent. Some of the compound’s tenants are Hewlett-Packard (HP), Procter & Gamble (P&G), Mondelez Romania (formerly known as Kraft Foods), Garanti Romania Group, Ringier, Sodexo, Infineon Technologies, Yokagawa, Luxoft and UniCredit Business Integrated Solutions. Novo Park was developed by Genesis Development and is owned by Romanian businessman Liviu Tudor. Genesis Development’s investments in Romania currently amount to EUR 300 million. Irina Popescu, irina.popescu@romania-inisder.com