July 15 (SeeNews) - In SeeNews story "PPD Romania extends lease in West Gate Business District to Oct 2026" dated July 15, please read in the headline "PPD extends lease in Bucharest's West Gate Business District to Oct 2026" (corrects name). Please note that the text has also been amended throughout to comply.
In the first paragraph, please read: "Drug development, laboratory and lifecycle management services provider PPD ...", instead of "Premium alcoholic beverages distributor PPD Romania ..." (Corrects PPD's line of business.)
A corrected story follows:
Global drug development, laboratory and lifecycle management services provider PPD has extended the lease contract for its headquarters in the West Gate Business District in Bucharest by five more years for the third time, the office park developer Genesis Property said on Thursday.
PPD has been based in the West Gate Business District since 2008 and is among the longest-term tenants of the office park, Genesis Property said in a press release.
The company has renewed its lease in West Gate until October 2026.
In the last month, Genesis Property also announced a five-year lease extension with the local branch of Japanese company Yokogawa, located in Novo Park.
"PPD is the second tenant to decide to renew its lease contract for their office spaces. This is a clear sign of the confidence our partners have in our long-term relationship and, at the same time, in the future plans," Genesis Property chairman Liviu Tudor said.
The offices in the West Gate Business District cover 75,000 sq m of leasable area. The complex includes five buildings, each with 15,000 sq m of usable space, with high quality class A offices and auxiliary spaces.
Genesis Property owns and manages over 150,000 square meters of Class A office space in Novo Park and West Gate Business District in Bucharest.
Among the most important tenants in the two office parks are companies such as HP, Accenture, Societe Generale, Citibank, Ericsson, Garanti BBVA, Infineon, Luxoft, Yokogawa, Siemens, Alpha Bank, where a total of over 20,000 employees work.