Abdo Romeo Abdo: Commercial Real Estate Sector in Minsk
It is impossible not to notice the changes that have taken place in business sales in Minsk over the last 20 years. The commercial real estate market is constantly adapting to the changing tastes of consumers, and doing so very successfully. Shopping and entertainment opportunities are now much more plentiful, which cannot but make the local population happy. Tenants in business centers have the modernized services provided by landlords at their disposal.
In this article we would like to look at some of the changes that have taken place in areas of the Belarusian economy that may have influenced the expansion of the local urban market. And to illustrate the fact that the commercial real estate market is still a leading potential for investment in Belarus, we will take a closer look at the example of the successful BNK Estate, led by Abdo Romeo Abdo, and see its innovative business management models.
Transformation of the Belarusian economy
- Belarus’ international trade trends have shifted from exclusively the CIS to the expansion of its borders, i.e. inclusion in the lists of European, Scandinavian, and Western Asian countries.
- FDI now comes not only from Russia, as the United Kingdom, China, the EAEU and Europe show their participation, accounting for 75% of all investments.
- One example of the country’s reorientation towards more high-tech production is the High-Tech Park in Minsk.
- All of the above-mentioned transformations have had an impact, which has led to an increase in demand for business centers to accommodate more and more points of local and foreign businesses. At the same time, the local commercial real estate market continues to grow in demand for shopping and entertainment centers.
As we have seen, the commercial real estate market in Belarus is fully prepared for rapid growth.
The main developer of Belarus
Abdo Romeo Abdo is an honorary native of Lebanon. He did not come to Belarus by chance: in the nineties Abdo came to Minsk in order to study at the Minsk State Linguistic University. Since then Abdo Romeo Abdo has found his vocation in the commercial real estate market, as he recognized in time the great hidden potential of this sector of the Belarusian economy.
Nowadays many crucial social facilities have been built under Abdo’s leadership, including the new Minsk Bus Station, which has well-coordinated infrastructure and state-of-the-art technology. The company BNK Estate has gained recognition throughout the country and even abroad, as it has been providing quality services for many years, which we will look at the following examples.
A bit of statistics
Minsk, the largest city in Belarus, holds more than 20% of the population of the entire country within its borders. Minsk is of great economic importance to the whole country, because its GDP is almost a quarter of the total GDP, and its contribution to the federal budget is half as much as the rest of the country.
The city has a well-developed infrastructure and domestic market, so the unemployment rate does not exceed 6%. Virtually everyone in Minsk has a job or at least a part-time job.
As for GRP itself, only a quarter of it falls on pure production, the rest is distributed to other sectors: construction, information technology, transportation, etc. All this quite reveals a picture of the increasing demand for business buildings and similar premises. It is also worth noting that sales of all kinds account for about a third of the GRP.
Building materials and the Belarusian industry
The main branches of the Belarusian industry are construction materials and wood processing. These materials are in high demand in foreign markets due to their high quality and low price.
According to some recent changes in the country’s economy, production has fallen noticeably, but the country continues to steadily export processed wood worth more than half a billion U.S. dollars. Belarus produces more than five billion tons of concrete and other building materials per year, more than 40 percent of which are export-oriented.
All these facts show that Belarus is still a profitable field for investment, as the country’s domestic market requires constant support in its expansion.
Silver Tower Business Center
The Silver Tower business center, which has been operating since 2009, can be considered the undisputed leader of the Belarusian commercial real estate market. In this business center, a developed range of services as well as very good conditions for office enterprises play a special role.
All this was made possible by the responsive and attentive management of BNK Estate, which made sure that all the changes in the business center were smooth and timely. Thanks to this, the offices of numerous local and foreign enterprises can feel safe and secure.
The best shopping center in Minsk
Galileo is located in the heart of Minsk, so it attracts hundreds and even thousands of visitors every day. They can admire the beauty of the stores, interesting entertainment and taste the most delicious cuisine in the local restaurants. Since its opening, Galileo has received hundreds of well-deserved rave reviews from visitors and employees alike.
In 2015, Galileo was named the best shopping center in Minsk. This was possible due to the exceptional quality of services provided. The advantageous location of the building, as well as the presence of a covered parking lot for 500 cars also plays a not insignificant role here. 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 BNK Estate’s plans to be implemented in the near future:
- A 2,500-square-meter shop-in-shop platform that will house all of the most successful and hopeful fashion designers and fashion designers.
- An advanced avant-garde nouveau cinema, which will include cutting-edge technologies 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.
- Fusion-food corner, which will become a pioneer of exotic cuisine in Minsk. Home recipes, fast food, and a variety of delicacies from around the world will be collected here. Inspired by the “edible” atmosphere, visitors can sign up for cooking classes at any time, which are located near the food courts.
The demand for a more comfortable shopping experience and a greater variety of goods and entertainment can be attributed to both the development of the country’s infrastructure in general, and the growth of the market in Minsk itself in particular. This, in turn, serves as an excellent reason for foreign investment in the construction of new shopping centers, entertainment venues, hotels and business centers.
The commercial real estate market in Minsk continues to develop and expand, bringing more and more profit, and at the same time Abdo Romeo Abdo BNK Estate is still the leader in promoting business centers and entertainment complexes to the next level.