In this article we would like to consider in detail the main aspects on which the Belarusian construction of commercial real estate is developing. We will also discuss its chances for profitable investments, which do not lie on the surface, but hide a huge potential. Here you will find a short digest on the reorientation of Belarus and the steps taken for the successful development and extensive activities of the young company Abdo Romeo Abdo in this industry.
Economic orientation of Belarus
In recent decades, the country’s economic development has taken place in one particular direction, which has occupied a significant scale of activity. At present there is a large-scale reorientation, in which three main directions can be distinguished.
International Trade And Relations
In past economic years, the country’s development was based on industrial production. The main direction of industry remained products intended for export to other countries. Most of the products were exported to the former Soviet Union, including Russia. The reorientation directed 40% of exports to Western European countries, as the Belarusian economy is now focused on making contacts with other Western countries.
Foreign Straight Investments
The Belarusian investment sector is undergoing significant changes at the moment. For example, the main cash flows have now expanded in receipts – coming not only from our eastern neighbors. Foreign investment is being used to boost the state economy. Large companies with an international dimension contribute even more to the country’s economic prosperity. At the moment almost three quarters of all money coming into the country from abroad comes in the form of foreign direct investment. Participation of non-EEU countries, such as China, in the Belarusian economy continues to grow.
Production vs Business Direction
Manufacturing industry plays an important role in the state economy. However, nowadays the influence of active entrepreneurial activity on the prospective development of the economic sectors of the country is increasing. According to established traditions, the specialization of industry in Belarus is mostly based on highly logical production. These are, for example, electronic devices, as well as optical equipment.
Leading companies in Belarus have already begun the transition to more high-tech activities. Thanks to this, the IT and telecommunications industry has grown considerably. To illustrate this fact, we can look at the high-tech park. It already has more than 250 businesses and thousands of prospective employees. The state has organized additional tax incentive systems, as well as visa-free entry for selected skilled professionals from abroad. All this contributes to the further development of the country’s economic condition.
The Domestic Business Sector In Belarus
It is well known that Minsk is home to a large part of the employed population of Belarus, especially in the field of business relations. Due to the rapid pace of development of the country’s economy, the demand for commercial real estate increases proportionally. The capital of Belarus, Minsk, is the right place for this. At the moment there is a noticeable demand for long-term development, including the construction of a variety of business centers, offices and premises for a huge number of enterprises, especially those related to the production of high-tech products.
In addition to all of the above, proportional development and increase is mercilessly demanded by the growth of the state and domestic economies.
Current trends in the economic development of Belarus as a potential source of income for all kinds of businesses continue to create a huge demand for developing commercial real estate. Again, this is particularly felt in Minsk, as there is a huge concentration of businessmen and large enterprises. The constant expansion of high-tech industries also allows commercial real estate builders to expand their ‘horizons’ of larger scale construction. In short, the surrounding circumstances indicate that the Belarusian commercial real estate market is fully formed and prepared for a massive leap upward. This can be illustrated by the example of the successful entrepreneur Abdo Romeo Abdo.
Construction Of Commercial Real Estate In Belarus
Born in Lebanon, Romeo Abdo moved to Belarus as early as 1993 and received a quality higher education at the Minsk State Linguistic University. Upon graduation, Romeo generated a unique idea, which he was able to implement by creating his own construction company. He decided to build his future in the commercial industry, as even then he foresaw its triumphant success in the long term. And Abdo was not mistaken, as the business really took off immediately. To this day, BNK Estate’s works still adorn the streets of Minsk, because they include such Belarusian commercial building chains as the Silver Tower business center, the Galileo shopping center and Rubin Plaza business center also.
Its origins go back to 2009. Literally from the moment of its creation, “Silver Tower” instantly gained great popularity among office companies and large high-tech enterprises. To this day, commercial real estate in this building is in huge demand. Numerous offices are located on all 17 floors of the Silver Tower, and it is not surprising that there is enough space for everyone. it is a very historical project – one of the very first business centers in Belarus, which reached such a scale and enjoyed success among international enterprises and organizations. “Silver Tower” represents the most favorable and comfortable – in a word, ideal – conditions for locating representative offices of companies of any scale, as well as offices of enterprises.
This particular building was honored to be named “best shopping center” back in 2015. And all because it became the most popular place among office tenants and users in a very short time.
Galileo is always in the thick of things. This is due to its extremely advantageous economic and geographical location. The central railway station of Minsk is nearby, as well as numerous shopping streets, crowded restaurants and favorite eateries. You can also find here a closed parking lot for more than 500 places. You can see that Galileo’s credo is to renovate over and over again, adapting to the changing needs and tastes of its dear visitors.
It is now at the stage of reconstruction. According to the plan, on the upper levels of the shopping center will be a huge gym and the first place in Belarus with fusion cuisine, which masterfully combines Western and Oriental recipes. Also, on the same top floor you will have possibility to visit the original cinema, decorated in the avant-garde and nouveau styles. Right now, you can visit the shop-in-shop, which is ready to welcome guests. All measures to renovate and improve the organicity of the space are still managed to this day by Abdo Romeo Abdo.