PPD, a clinical research company, has extended its office lease at West Gate Business District in Bucharest for a further three years. The renewal marks the fourth consecutive extension of an agreement that began in 2008, taking the partnership with campus owner Genesis Property beyond the 20-year mark.
"In real estate, performance is not only about attracting companies to a development, but also about creating an environment where they choose to stay and grow. Four consecutive lease extensions and a relationship that will span more than 20 years are, for us, an important validation of this approach," said Elena Panait, Head of Leasing at Genesis Property.
The renewal coincides with all five buildings at West Gate Business District achieving BREEAM In-Use Outstanding certification. The assessment covered more than 94,000 sqm and returned scores of 88.1% for Asset Performance and 90.2% for Management Performance.
Genesis Property has also developed broader campus infrastructure at the site, which includes more than 16,000 sqm of green space, an outdoor swimming pool, a fitness centre, a four-star accommodation facility, a tennis court and a running track. The company says these investments are intended to support companies in attracting and retaining talent.
Genesis Property owns and manages two business campuses in Bucharest, West Gate Business District and YUNITY Park, with a combined GLA of more than 150,000 sqm. Tenants include HP Inc., Hewlett Packard Enterprise, Accenture, Ericsson, Garanti BBVA, Infineon, Luxoft, Yokogawa and Siemens, employing more than 15,000 people across both sites.
