Ericsson expands and consolidates office space within West Gate compound in Bucharest

Telecom equipment producer Ericsson Romania expanded its office space within Genesis Development’s West Gate office compound in Western Bucharest, adding 4,000 sqm to its existing 12,000 sqm, and consolidated its activity into two buildings in the compound. Ericsson will slowly move staff from a third building where it occupies space, and by fall this year will have all operations consolidated in two office buildings, where it will occupy six floors. Ericsson’s staff will occupy almost fully one office building, and partially a second. The five office buildings in the compound are structured on ground floor and five floors. The telecom company also extended it lease until 2019, with its current lease running over 11 years in total. Ericsson moved to the compound in 2008, when it leased 4,000 sqm. With the new office space upgrade, the compound is 96 percent leased. Other companies expanded their office spaces in the compound recently too: Societe General doubled its office space to 5,000 sqm, while WNS more than doubles, from 1,500 sqm to 4,000 sqm. Other tenants in the compound include Dacia Renault, Siemens, Accenture, PPD (Pharmaceutical Product Development), Panasonic, Citibank, Alpha Bank, Carestream Health and Medicover. West Gate, developed by Genesis Development, a developer owned by Romanian investor Liviu Tudor, includes five buildings with a total leasable space of 75,000 sqm. The company also developed Novo Park, and the private campus West Gate Studios. The developer’s investments in Romania to date rise to EUR 300 million. Corina Chirileasa, corina@romania-insider.com