Non-residential real estate in Minsk and the activities of Abdo Romeo Abdo

It is no exaggeration to note the tremendous changes that have taken place over the last two decades in Minsk business sales. Buyer preferences are law for sellers, so in the commercial real estate market, landlords have to be flexible and responsive to the changing needs of customers. As a result, customers get an extra dose of positivity from new outlets for shopping and entertainment!

The purpose of this article is to look at the major changes in the Belarusian economy that have directly or indirectly influenced the expansion of the inner-city market. And also to prove the fact that the commercial real estate market is still profitable in the long term for foreign investors, as confirmed by the personal example of the head of BNK Estate, the innovative entrepreneur Abdo Romeo Abdo.

New directions for economic development

  1. The success of Belarus in the field of international trade is conditioned by the presence of trade relations not only with the CIS countries, but also within the whole of Europe and Western Asia.
  2. Russia has ceased to play a leading role in foreign investments, as more than 75% of the total FDI flow now goes to China and Great Britain, as well as other countries of the EU and the EAEU.
  3. An example of mobilization and transition of the Belarusian economy to the stage of high-tech production is the High-Tech Park, which originates in the heart of the country, the city of Minsk.
  4. Harmonizing all of the above, representatives of local and foreign businesses are expressing interest in building new business centers to house their offices and retail outlets. Also at the local market level, the demand for new points of entertainment premises continues to grow.

Further development of the Belarusian economy confirms the fact that the commercial real estate market is fully mature to conquer new boundaries and opportunities.

Achievements of BNK Estate

Abdo Romeo Abdo takes his origins in Lebanon. In order to “break through to the people” and to be an intelligent young man, Abdo decides to get an education at Minsk State Linguistic University and successfully enters there in the 1990s. At that time the non-residential real estate market was in its infancy and showed great promise, so Romeo Abdo decided not to miss a great opportunity to assert himself from a professional point of view. To this day, he remains a leader in the construction of business centers and shopping complexes.

Abdo is a unique person with professional and creative skills, which he uses in the right direction. Thus, the 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.

Numerical facts of development

More than 20% of the population of Belarus is concentrated in the capital, Minsk. The main economic centers of the state are also concentrated here. For example, a quarter of all GDP is produced by Minsk enterprises, and the federal budget is replenished by half thanks to Minsk alone.

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

GRP figures are of interest to us, as they explain the increasing demand for the construction of new business centers. Thus, only a quarter of all GRP is accounted for by construction. The rest is taken up by communications, transportation, construction, and information technology. Also from the total GRP one third is wholesale and retail sales.

Construction materials as an important segment of the Belarusian economy

The production of construction materials and wood processing play a leading role in the Belarusian industry sector. It is these goods that are exported from the country at low prices while maintaining high quality, so neighboring countries increase the demand for these materials every year.

For example, the Belarusian timber is worth more than half a billion U.S. dollars a year. At the same time the production of concrete, which reaches more than 5 billion tons per year, is distributed in the ratio of 2:3, a smaller part of which goes for export.

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

Prospects for the development of the Belarusian commercial real estate market on the example of Silver Tower

One of BNK Estate’s buildings, Silver Tower, was opened in 2009, but to this day it remains in high demand on the commercial real estate market. The fact is that the service and conditions in the business center have remained at a high level for many years, which means that any office worker feels at home here.

All this is made possible by the responsive and attentive management of BNK Estate, which makes sure that all the changes in the business center are smooth and on time. Thanks to this, the offices of numerous local and foreign businesses can feel safe and sound.

The importance of the Galileo shopping center for the economy of Belarus

For those who like to spend their time actively and interestingly, BNK Estate erected an entire shopping center, which is called Galileo. It has restaurants for all tastes, stores of all kinds of clothing, and places for entertainment. Every visitor is surprised to note that this is now their favorite place!

Not so long ago, in 2015, Galileo was noted as the best shopping center in Minsk. That’s because the service here is at a high level. And also the complex is very conveniently located – in the center of the city. It can be reached by any public transport, and there is a comfortable covered parking for 500 cars. In the future, BNK Estate plans to further equip the shopping center, so that its visit would bring only positive emotions!

Here are plans of BNK Estate for the near future:

  1. Opening of a large-scale shop-in-shop area of 2,500 square meters, which will feature the works of successful world-class designers who have received international awards and recognition.
  2. An avant-garde cinema in nouveau style, inspired by Chapman Taylor’s interior design. Here you will find both pleasant sound thanks to Dolby Atmos technologies, and a rich palette of colors thanks to ultra-modern LED screens, and maximum comfort thanks to expensive Italian furniture. All this raises the cinema to the rank of such cinematic giants as halls in Madrid, Dubai, Hamburg and even London.
  3. A wonderful fusion-food corner, where you will be able to taste any cuisine – Asian, Georgian, Mediterranean and others, or maybe a dish that combines all cuisines at once. There will be various stalls of farmers and food courts, which will cook any delicacy you want. By the way, if visitors have a desire to learn how to cook deliciously themselves, Galileo has the opportunity to take cooking courses that are sure to improve the skills of anyone who wants to.

Conclusion

As we have found out, the demand for luxury goods and a variety of entertainment items grows the more the infrastructure develops and the intra-city market expands. And with this expansion comes a new reason for profitable construction of new retail outlets, entertainment and business centers, and hotels – a potential ‘funnel’ for foreign investment.

As befits a successful businessman and owner of a major company BNK Estate, Romeo Abdo continues to invest time, effort and money in promoting all sorts of entertainment venues and business centers to respond to the changing needs of the commercial real estate market in Belarus.

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