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Real estate: Genesis Property real estate developer installed 1,000 photovoltaic pannels on Novo Park office buildings in Bucharest

January 5, 2023

Real estate developer Genesis Property announced that it had implemented a renewable energy project in an office park in Romania, installing more than 1,000 photovoltaic pannels on an area of 4,000 sq.m., on the roofs of office buildings within Yunity Park in the north of Bucharest, following an investment of 1 million euros.   This project is part of a series of sustainable development initiatives of Genesis Property by which it will tunr Yunity Park into a new real estate concept. Genesis Property, the first real estate group in the country which became signatory of UN Global Compact on human rights, labor, fight against climate changes and environment protection, intended to reduce carbon emissions to zero until 2040.   Reducing environment impact becomes an important preoccupation for Romanian employees, in the context of preoccupations concerning climate changes, while green measures expectations increase, accprding to a Genesis Property survey made this year among 1,180 employees around the country. Thus, employees consider that environment protection measures in office buildings and homes are very important, while 70% of them expect a sustainable approach and more initiatives for the environment.   “We make a first steo forward in the effort of aligning the present NZEB (Nearly Zero Energy Building) concept for zero emission buildings (ZEB), thus aligning the energy performance demand of the present Energy Performance of Buildings Directive with the EU long term climate neutrality objective. YUNITY Park is designed as a future example of sustainability, not just for present challenges,”said Ioan Bejan, Genesis Property sustainability manager.   Genesis Property also made a detailed evaluation of buildings and area surrounding Yunity Park and identified an additional set of measures to reduce energy consumption , even if all buildings were included in the highest energy efficiency class -A.   The 1.080 photovoltaic pannels installed on Yunity Park buildings will produce between 650 and 680 Mwh/year, according to weather conditions. Other measures to be implemented include: interior and exterior LED illumination, modernzing heating and cooling installations to reduce consumption, introducing sensors for more efficient management of utilities and waste reduction.   Genesis Property is the owner, developer and operator of class A office buildings in Romania, with an experience of about 20 years in real este industry. The company owns and manages Yunity Park and West Gate Business District with over 150,000 sq.m of office area occupied by important companies such as HP, Accenture, Societe Generale, Citibank, Ericsson, Garanti BBVA, Infineon, Luxoft, Yokogawa, Siemens and Alpha Bank, where over 20,000 employees work.   Genesis Property resumed its engagement to adapt its investment and operational strategy to fully contribute to backing major EC projects, assumed through the European Ecological Accord of reducing by 55% greenhouse gas emission effect by 2030 and reaching climate neutrality by 2050.   Genesis Property is also the developer of the first private student campus in Romania, West Gate Studios, and the 4 star accommodation union Studio One Accommodation Suites.  

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