July 12 (SeeNews) - The Romanian subsidiary of German semiconductor manufacturer Infineon Technologies is expanding its headquarters in a Bucharest office building and has extended its lease agreement until 2025, the building's developer Genesis Property said on Tuesday.
Infineon will expand its headquarters in Novo Park business campus with two additional floors and a lab in Building D, bringing the total leased area to 10,000 sq m, Genesis Property said in a press release.
Moreover, the company has signed an extension to the existing contract until 2025. Infineon Technologies Romania is a tenant of Novo Park since 2005.
Infineon Technologies Romania's development center in Bucharest is part of Infineon's European research and development network and has grown to be one of the R&D leaders in Romania. Established 2005, Infineon Technologies Romania today engages more than 400 engineers in the development of semiconductor products for automotive, industrial and digital security applications, according to its website.
Genesis Property owns and operates over 150,000 sq m of prime commercial real estate space, where more than 20,000 employees work. Genesis Property is also the developer of the first private student campus in Romania, West Gate Studios, and a 4-star accommodation unit, Studio One Accommodation Suites.
In April, Genesis Property announced it started the transformation of Novo Park into YUNITY Park, a project expected to be completed in the first quarter of 2023, following an investment of 50 million euro ($50.5 million).
($=0.9898 euro)