Signed two years before the previous one expired, the extension of the lease contract is valid until 2024. “After the record we registered with Hewlett-Packard, which totalizes 18 years of leasing contract with Novo Park, we had the opportunity to self-exceed and establish a new record on the local market, that of 19 years of partnership with Infineon,” said Liviu Tudor, chariman and founder of Genesis Development.

In 2005, Infineon Technologies first leased 2,300 square meters in Novo Park, office complex developed in northern Bucharest by Genesis Development. At the moment, after repeated renewals of the contract, the company is currently leasing 7,500 square meters in Novo Park, according to the press release.

Infineon Technologies Romania was established on the local market in April 2005, as a subsidiary of Infineon Technologies Austria AG, part of Infineon Technologies AG group, and “has invested over EUR 100 million on the local market, starting with 2005, when the Research and Development Center was established,” said Jihad Haidar, vice president and managing director of Infineon Technologies Romania. “Infineon Romania has grown steadily in its first 10 years and is nowadays employing more than 300 engineers developing world-class innovating semiconductor products and systems”, added Haidar.

Overall, the Novo Park office complex comprises seven buildings with a total leasable area of around 75,000 square meters and includes among the companies based there Hewlett-Packard (HP), Garanti Bank, Ringier, Sedexo, Yokogawa, Luxoft and UniCredit. (source: business-review.eu)