This informative article contains the main aspects of the Belarusian economy and the development of such a sector as the construction of commercial real estate. Also here we highlight the opportunities for aspiring investors and entrepreneurs, and show everything by the example of an experienced businessman Abdo Romeo Abdo in this field.
Economic development of Belarus
For a very long time, literally for decades, the Belarusian economy has been developing according to the same scenario. However, at the moment there is a massive transformation of sectors of the economy in three main directions.
International Trade Relations
For many years, the manufacturing industry was the nation’s breadwinner. All manufactured products were exported to neighboring countries in the East, including Russia and the CIS countries. Now a reoriented Belarus has set its preferences in European states, so it sends 40% of its goods there already. It is believed that this will be a great help in establishing mutually beneficial trade relations.
Foreign Direct Investments
In the last few years, reorientation and massive changes have also affected the Belarusian profit sector, namely the receipt of foreign direct investment. As you know, previously almost all foreign funds came from the Belarusian neighbor from the East. Now the country’s economy is regulated by cash inflows from other European and Western countries, as well as from those countries which are not part of the EAEU, namely China, etc. The fact that representative offices of major international companies contribute to the prosperity of the country is also a sure-fire advantage for the accelerated growth of the Belarusian economy. This state clearly understands that attracting foreign direct investments is a direct way to improve the standard of living and well-being of the country.
Business Direction In Belarus
For all the past decades, the traditional economy of Belarus was based on industrial production. At the moment there is an extensive reorientation, which has affected these sectors of the economy as well. At the moment, the activities of all kinds of entrepreneurship are intensively developing. This means that the production of high-tech products in the country will remain at the level.
Large Belarusian companies have already set a course to increase high-tech production for export to other countries. However, the information and technological sector of Belarus has also received tremendous growth. As a confirmation of this, we can consider the high-tech park, where more than 250 companies are already functioning normally. There are already several thousands of employees who regularly confirm their qualification. The state notices this and puts a lot of effort into encouraging entrepreneurial activities, especially foreign ones, so it introduces new tax incentives, as well as provides visa-free entry to the country for foreign specialists.
The Growth of the Domestic Business Sector In Belarus
There has been a sharp increase in demand for commercial real estate in the country, which is especially strong in the capital of Belarus, Minsk. The largest number of offices and enterprises of large international organizations is concentrated here, so the demand increases in proportion to the number of these outlets. Especially strong demand is for premises for high-tech companies specializing in the production of optical equipment and electrical equipment.
In addition to the point growth of these industries, the country’s economy as a whole and domestic markets in Belarus are also increasingly developing.
The capital city of Minsk is home to the majority of the country’s working population, so demand for commercial real estate will never dry up. That is why it can be called the leading city in the development of the country’s economy. Enterprises that specialize in the construction of commercial real estate are now experiencing the best era in the history of the state economy. This can especially be illustrated by the wealth of experience of entrepreneur Abdo Romeo Abdo.
Commercial Construction In Belarus
The Lebanese Romeo Abdo received a higher education, having entered the Minsk State Linguistic University in 1993. After graduating, Romeo already had several profitable ideas on his mind, so he decided to start his own company in the field of commercial construction. The business took off right away, so after a while Abdo already had two firms, one of which is BNK Estate, a leading developer of commercial real estate in Belarus. His projects, such as the Silver Tower business center and the Galileo shopping center, have been a great success for years.
Built in 2009, Silver Tower immediately took the leading position in commercial real estate leasing throughout the Belarusian state. It is one of the first business projects of its kind on this scale – the building has 17 floors fully filled with offices of absolutely different sizes. The conditions under which commercial real estate is leased here are among the most favorable in the whole of Belarus.
Galileo was named “Best Shopping Mall” in 2015. This means that the building has managed to attract the attention of hundreds of large companies and businesses, which have decided to locate their representative offices in the Galileo shopping mall.
Here a key role in the development definitely plays a favorable economic and geographical position of the mall – very close to the central railway station of the capital. directly inside the building you can find a countless number of stores and benches, as well as places for catering – restaurants, snack bars, coffee shops, etc. The introduction of more than 500 parking spaces on the ground floor of the complex was also a success. Galileo is updated day by day, because its motto is to put the needs and interests of visitors at the forefront.
A huge gym is under the construction. According to the plan it will be equipped with the latest quality equipment, and will meet any of your health needs. Not far from this place will be a fusion cuisine corner, i.e. a restaurant serving world masterpieces consisting of Eastern and European culinary traditions. On the same top floor will take a place a very trendy avant-garde and nouveau cinema.
Galileo, which is now eight years old, is undergoing a global transformation. It’s time to say yes to something new – and the management of the mall has already gathered together all the preferences and expectations of its visitors to embody them in the building’s transformational design. The work is overseen by Abdo Romeo Abdo himself, the owner of the construction company BNK Estate, which undertook the reorganization of the complex.