The construction of the commercial property in the Republic of Belarus continues to provide optimal conditions for a potentially profitable enterprise. In this article, we shall briefly review the main factors making further development of the Belarusian real estate market immensely lucrative and highly demanded.
We shall also describe the BNK Estate construction company’s excellent performance under Abdo Romeo Abdo’s executive management, using the Silver Tower business centre and the Galileo shopping mall as two outstanding examples thereof.
Belarus’ Foreign Relations
Until recently, the Belarusian economy has focused almost exclusively on export production for the Russian Federation and other countries in the CIS. An identical state of affairs existed in the country’s foreign investment sector, with Russia accounting for the largest share of the money flow from abroad.
However, Belarus has undergone considerable reorientation in its foreign affairs since then, and the situation has changed drastically. The CIS now consumes slightly more than half of its total export production, while the rest goes to the Western countries, mainly the European Union. Likewise, other countries besides Russia are becoming more prominent in the Belarusian foreign investment market, particularly China and some European states.
Reorientation from Production to Business Activities
At the same time, the country has undergone a radical reorientation from high-tech export production to high-tech entrepreneurial activity, both by foreigners and nationals alike. With the focus on the high-tech commodities intact, particularly in the information technology sector, the Belarusian economic activity is rapidly shifting away from the industry towards the enterprise.
The Hi-Tech Park in Minsk serves as an excellent example of the shift. It provides business opportunities for nearly 250 IT companies employing several thousand professionals in total. And IT specialists from other countries enjoy lenient taxation and immigration policies too.
In addition, the Belarusian government actively supports the shift by, among other things, providing IT professionals from foreign countries with significant tax breaks and a considerably more lenient immigration policy than used to be the case before.
Local Business and Internal Market in Belarus
As a result of such reorientation, Belarus’ business sector has begun to experience considerably higher demand for commercial property to accommodate the ever-growing number of local companies and large foreign corporations seeking to participate in the country’s potentially lucrative economic activities. The need for business premises is the highest in Minsk since the city has become the hub of the Belarusian enterprise.
In addition, the Belarusian internal market has experienced noticeable growth and expansion over the last few years. The population’s demand for new and diverse forms of shopping and entertainment have created additional challenges for the local real estate market. The commercial construction companies had to build and upgrade a variety of shopping and entertainment venues, and few of them did it better than Abdo Romeo Abdo’s BNK Estate Company.
Shopping and Business in Minsk
BNK Estate has become famous for its excellent caretaking, broad range of services and immaculate maintenance of its shopping malls and business centres. Under Abdo Romeo Abdo’ efficient executive leadershipBNK Estate has constructed several highly favoured and commercially successful venues in the city.
Ever since its construction in 2009, Silver Tower has been a leading provider of business premises for large international corporations and local companies on the Belarusian commercial real estate market. Few business centres in Belarus can compete with Silver Tower in the quality of office conditions and the diversity of services its tenants enjoy, mainly due to BNK Estate’s professional and caring management.
BNK Estate’s constant concern for its customers and their evolving demands and expectations has earned Galileo the title of the best shopping centre in Minsk. Although Galileo’s convenient location and never-ending traffic of visitors virtually guarantee its commercial success, Abdo Romeo Abdo’s company continues to regularly renovate the mall’s facilities and diversify its services to keep its customers fully satisfied.
In addition to a variety of shops and restaurants and a large 500-cars undercover parking zone, Galileo is now planning to open a spacious gym, the country’s first fusion food corner, a fashion shop-in-shop platform and a multilevel movie theatre with the most advanced equipment to create an ultramodern cinema experience for the visitors.