Minsk is a constantly evolving city, as evidenced by the evidence of big changes in business and shopping in just some 20 recent years. Customers’ tastes are constantly changing, so sellers in the commercial real estate market have to keep an eye on the profitability of their premises and make the necessary changes in time. Everyone remains happy – both the locals, for whom shopping and entertainment have become even more affordable and comfortable, and the tenants themselves, whose range of services has increased and modernized. 

What will you find in this article? A detailed tour of the major changes in the Belarusian economy over the past few years, which have contributed to the expansion of the inner-city market.  And accordingly, it is also worth considering the commercial real estate market as a potential source of income from foreign investment. The success of this venture is evidenced by the personal experience of businessman Abdo Romeo Abdo, who owns such a large company as BNK Estate. 

Various economic transformations in Belarus

  1. The developing economy is now focused on creating new trade links with countries in Europe, West Asia, Great Britain and Scandinavia. 
  2. FDI now comes not only from Russia, as Britain, China, the EAEU and Europe are showing their participation, accounting for 75% of all investments. 
  3. to confirm the country’s reorientation towards a more advanced level of economic development with the use of high technology, it is enough to pay attention to the High Tech Park, which is located in Minsk.
  4. Harmonizing all of the above, representatives of local and foreign businesses express interest in building new business centers to accommodate their offices and retail outlets. Also at the local market level, demand for new points of entertainment space continues to grow.

As we have seen, the commercial real estate market in Belarus is fully prepared for rapid growth.

A little disclaimer about the BNK Estate

Abdo Romeo Abdo’s roots lie in the beautiful country of Lebanon. But his education also serves him well, as he received it in the 1990s at Minsk State Linguistic University. Over time, Abdo Romeo Abdo has managed to break into the ranks of non-residential real estate builders in Belarus, as his business centers and shopping and entertainment complexes are now very popular with businesses. 

Abdo is a unique person with professional and creative skills, which he uses in the right direction. Thus, projects of his company BNK Estate are on the world level and deserve sincere admiration by all standards of comfort and quality. Let’s take a look at some of them.

Important statistical indicators

According to statistics, currently more than 20% of the population of Belarus live in Minsk. It is also where 25% of the country’s GDP is produced, and almost 50% of the federal budget comes from here. 

To combat unemployment, the city authorities continue to invest in the development of infrastructure and the domestic market. Thanks to these efforts, virtually every Minsk resident has a job and a steady income. 

The situation of GRP in the city is also interesting. So, only a quarter of the total GRP is accounted for by construction. The rest is taken up by communication, transport, construction and information technology. Also one third of the total GRP is wholesale and retail sales. 

The Belarusian industrial market and its development

The main sectors of the Belarusian industry for many years have been woodworking and production of building materials. These materials are in high demand in foreign markets due to their high quality and low price. 

In line with some of the recent changes in the country’s economy, production has fallen noticeably, but the country continues to steadily export over half a billion U.S. dollars worth of processed wood. Building materials are also exported, about 2 billion tons of the 5 billion produced. 

The nuances we have considered prove that in the near future changes will affect other areas of Belarusian economy as well, and this makes the country a potential source of benefits and profits for foreign investors. 

Belarusian Silver Tower and what it is

According to statistics, Silver Tower currently occupies a leading position as a business center in the country. Recall that this building was built only in 2009 and has already gained considerable popularity in the commercial real estate market. Currently, it is still leading the demand in the commercial real estate sector. The most comfortable conditions for offices can be found in this business center, and excellent service will also impress. 

BNK Estate together with its management team strives to maintain the service level and condition of the building to all quality and safety standards, so it is comfortable and pleasant to work on any of the 17 floors of the business center. 

Galileo’s Contribution to the Nation’s Economy

In the Galileo shopping center you can find restaurants, stores and entertainment programs – everything that befits a real shopping and entertainment complex. It is no coincidence that it was placed almost in the center of Minsk, because there is something interesting for every resident and guest of the country. Minsk residents lovingly note that they really enjoy coming here and having fun. 

In 2015, Galileo was named the best shopping center in Minsk. This was possible due to the exceptional quality of services provided. And also the complex is very conveniently located – in the heart of the city. It can be reached by any public transport, and for cars there is a comfortable covered parking lot for 500 cars. Anyway, the work to improve the existing facilities and to introduce the latest technology in Galileo does not stop even today. 

Here are some of the plans of BNK Estate, which will be implemented in the near future:

  1. the opening of a shop-in-shop area, for which a space of 2,500 square meters has already been allocated. The concept of this place will be to present the works of famous designers. 
  2. An advanced avant-garde nouveau cinema, which will incorporate cutting-edge technology such as Dolby Atmos. In fact, this theater in its quality can compete with the best cinemas in London, Dubai, Madrid and Hamburg. Chapman Taylor-style interior design, high-quality speakers, Italian furniture and LED screens are all about the avant-garde movie theater in Galileo Mall. 
  3. “Edible” fusion space, which will accommodate masterpieces of world cuisines from East to West. Everyone can indulge in delicacies and remember their childhood here, the food courts will be placed for every taste and color. And there is also a unique opportunity to sign up for cooking courses “without leaving the box office”, in the mall itself, and learn how to cook the most exquisite dishes using local recipes!

Conclusion

Ironically, the demand for a variety of goods and entertainment, as well as more expensive brands and luxury goods is directly dependent on the development of public and urban infrastructure, as well as the establishment and expansion of domestic markets. Therefore, it is beneficial to realize foreign investment in the construction of new institutions and sites, such as business centers, shopping malls and hotels. 

Both the Belarusian commercial real estate market and Abdo Romeo Abdo’s successful ventures in BNK Estate to promote entertainment facilities continue to develop side by side and reach new levels. 

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