The commercial real estate market in Minsk through the eyes of Abdo Romeo

It is hard to believe that some 20 years ago the situation in Belarusian business and shopping was radically different. Nowadays, buyers’ tastes and preferences are changing extremely rapidly, which is not always to the advantage of tenants. However, salespeople in the commercial real estate market do not think of giving up, but rather improve their skills every day and readily adapt to changing circumstances. That is why visiting such shopping and entertainment centers leaves no one indifferent.

The main focus of this article is the economic changes in Belarus, which may have influenced the internal expansion of the urban market. But it will also look here at the example of one successful entrepreneur, Abdo Romeo Abdo, head of BNK Estate, who will show that the commercial property market is by no means the last area of the Belarusian economy worth investing in in the long term.

The economy of Belarus and its transformations

  1. To give a boost to the domestic economy, Belarus is following foreign trade, including expanding ties with Europe, Western Asia, and other states besides the CIS.
  2. The leading role in the inflow of foreign investment is now played not by Russia, but by China, Great Britain and other countries of the EU and EAEU associations.
  3. In Minsk, you can find living proof that the reorientation of the state economy towards high technology is going well. This is the High Tech Park.
  4. All this affects the increase in demand in the foreign and local markets in the emergence of new business centers to accommodate the offices of enterprises, as well as in the construction of shopping and entertainment complexes to open new outlets.

Summarizing all of the above, we are fully confident that the commercial real estate market of Belarus is ready to take on a new level of development.

A little about the founders

An interesting fact is that the talented businessman Romeo Abdo is a native of Lebanon. He decided to connect his life with Belarus in his youth, in the nineties, when he entered Minsk State Linguistic University. Noticing a new emerging area of the economy, commercial real estate, Abdo Romeo Abdo decided to improve his skills as a builder of non-residential facilities, such as business centers and retail outlets.

Abdo is not going to stop at his professional field, so he involves both local and foreign companies in his projects. All BNK Estate buildings have a developed infrastructure and are decorated according to the latest technology, which deserves admiration and rave reviews from customers and visitors. Here are just a few examples that confirm it.

Some statistical information

As you know, almost one-fifth of the country’s total population is concentrated in Minsk. It is also where 25% of the country’s GDP is produced, and almost 50% of the federal budget comes from here.

The development of the city can also be assessed in statistical terms. With a well-developed infrastructure and a rich domestic market, the unemployment rate is only 6%, which means that employment in Minsk is not difficult.

An interesting fact about the GRP of Minsk is that only a quarter of it is in manufacturing, while the rest is in information technology, construction and transport. This explains the rapid growth in demand for the construction of new office buildings and business centers. And it also affects one-third of the GRP coming from sales.

Industrial sectors in Belarus

Building materials and wood processing are the pillars on which industrial production in Belarus rests. These materials are produced with high quality, and they are exported at bargain prices. As a result, the demand for these goods increases every year.

At the moment, the revenue from the harvested wood is more than half a billion U.S. dollars a year. Building materials are also exported, about 2 billion tons out of the 5 billion produced.

This and much more proves that the Belarusian sector of economic development will bring more and more profit every year, and thus remain potentially profitable for foreign investments and investments.

Leader among Belarusian business centers Silver Tower

Undoubtedly one of the most successful business centers in the country is Silver Tower, which was built in 2009 and has been attracting the best clients ever since. There are first-class conditions for office locations here, because the service has remained at the level for many years.

Under the reliable management of BNK Estate, the business center continues to develop and surprise its tenants with more and more loyal service and proper quality.

The importance of the Belarusian shopping center Galileo in the development of the country’s economy

If you’re thinking about where you can have a good time even in bad weather, the perfect place already exists! This is the Galileo shopping center, to which “all roads lead”, because it is located in the center of the city near the Central Station of Minsk. There are stores of popular brands, and restaurants of different cuisines, and places for recreation and entertainment.

Thanks to all of the above, Galileo was named the best shopping center in the Belarusian capital in 2015. It was also influenced by its favorable geographical location and the availability of a covered parking lot, which can accommodate 500 cars. Thanks to the efforts of BNK Estate it is planned to carry out even more ambitious projects, which will make the complex even more pleasant to visit.

For example, here are some of them:

  1. A shop-in-shop space of 2,500 square meters. Here will be presented points of successful designers and brands that have earned international recognition and received international awards.
  2. An avant-garde nouveau and Chapman Taylor movie theater that meets all the modern needs of visitors. Equipped with the latest technology, this cinema can be put in line with its “colleagues” in London, Hamburg, Dubai and Madrid. Here will be absolutely everything – a pleasant atmosphere, Italian furniture, LED screens and even the technology Dolby Atmos.
  3. Of course we can’t do without “edible” space. To please every visitor there will be food-courts and kiosks of different cuisines according to the concept of fusion-food. Visitors will also be able to take cooking courses right in the mall and learn the intricacies of the world’s cuisines.

Conclusion

The increase in demand for more expensive and sophisticated products can be explained by the smooth development of the infrastructure throughout the country, as well as by the establishment and expansion of the city’s home market itself. Therefore, foreign investments can be profitably realized in the construction of new establishments and sites, such as business centers, shopping malls and hotels.

Time is of the essence and with it, the commercial real estate market continues to develop and expand. That is why Romeo Abdo’s activities at BNK Estate still consist of promoting new shopping centers and entertainment venues.