Economy of Belarus: Romeo Abdo’s Experience
This article deals with the Belarusian economy, in particular the development of such sectors as the construction of commercial real estate, and its main development factors and hidden potential for profitable investments. Below you can find a detailed description of the reorientation that is currently taking place in Belarus, as well as the history of the successful development of the company of experienced entrepreneur Romeo Abdo in the construction of commercial complexes.
Economic changes in Belarus
Over the past dozen years, the Belarusian economy has been stagnating and flowing in an almost unchanged direction. However, at the moment there has been a global reorientation of the sectors of the Belarusian economy in three main directions.
For many years, the Belarusian economy was entirely based on high-tech industrial production, most of which was intended for export. The main areas of trade were the former Soviet Union countries, including Russia. During the period of reorientation, the emphasis began to be on the countries of the West, including Western Europe, so already 40% of exports are sent to these states. All this is necessary to establish strong and close trade ties and agreements with Western leaders.
Foreign Investments in Belarus
Just recently, the Belarusian investment market has undergone a huge transformation. This included the fact that now cash flows will come not only from the eastern neighbors. The involvement of foreign investments in the country’s economy will serve as a big booster for the state and a safety cushion for unforeseen events. Accelerated growth of the Belarusian economy will also be possible due to the financial support of large international enterprises, which have their representative offices on the Belarusian territory as well. For comparison, at present almost three quarters of the funds come to the country from abroad in the form of FDI. These countries also include those that are not members of the EAEU, such as China.
Production vs Business Direction
Industrial production flourished in Belarus on a permanent basis. Export goods such as optical equipment and electrical appliances were mostly produced. Nowadays, various kinds of entrepreneurship have received an additional boost to development, so the Belarusian industry is reaching a new, more high-tech level.
Belarusian enterprises have set a course for improvement and development of new high-tech goods and services. The sphere of information technologies is becoming widespread, so the supply only manages to keep up with the rapidly growing demand. To illustrate the high importance of the IT industry in the country, we can consider the existence of a high-tech park. At the moment, it already has more than 250 enterprises with thousands of full-time employees. The state’s incentives do not wait long, so there are special systems of tax incentives for foreign specialists as well as active entrepreneurs, as well as visa-free entry into the country.
The Domestic Business Sector
If we take into account the great pace of economic development in Belarus as a whole, it will not be surprising that the commercial real estate construction sector now enjoys a huge demand, which is growing every day. However, it is interesting that in Minsk, the capital of the country, the indicators of demand in this area of the economy are the highest. This is due to the fact that this city has the most points of local and international organizations, which means they may need a place to expand their headquarters at any time. This is especially true for high-tech manufacturing companies.
As the economy of the country as a whole grows, the indicators in the domestic market of Belarus increase proportionally.
Minsk is currently home to a large part of the country’s active business population. That is why the demand for commercial real estate will never decrease. Minsk is the most important city in the economy of Belarus. The business of building commercial real estate in this city is a very profitable business, so entrepreneurs in this area are now thriving. Such conclusions can be drawn from the personal experience of businessman Abdo Romeo Abdo.
Commercial Real Estate In Belarus
A native of the Republic of Lebanon, Romeo Abdo came to the territory of Belarus in 1993 to study at the Minsk State Linguistic University. As time passed, Romeo decided to establish his own business, and for prospective development he chose the field of commercial real estate construction, as this sector of the economy at the time was rapidly gaining momentum. At present, Abdo is the owner of BNK Estate, which has already carried out such successful projects as the Silver Tower business center and the Galileo shopping center. This definitely speaks volumes about BNK Estate.
“The Silver Tower was grandly erected in 2009. Since then, the demand for its commercial space has never waned. The building has 17 floors filled with a variety of offices. Tenants appreciate “The Tower” – it is considered a leader in commercial real estate leasing throughout Belarus. Business projects of such scale did not appear in Belarus so long ago, therefore “Silver Tower” can be rightfully considered one of the most venerable business complexes in this sector. Here you can find the most favorable and comfortable conditions for placing offices of enterprises of any scale and specialization.
“The Best Mall.” That’s how the place was designated in 2015. And for good reason, because in just a few weeks Galileo was able to gather representatives of the best large local and foreign companies, which enjoy great favor with consumers.
It is precisely the favorable economic and geographical location of Galileo Shopping and Entertainment Complex that accounts for its extraordinary success and demand that has not faded for several years. Located next to the Central Railway Station, the mall has an assortment of stores offering a wide variety of specialties, as well as food courts and upscale restaurants, coffee shops and small eateries. On the lower floor of the building there is a covered parking lot, which has more than 500 comfortable places. All this and many other innovations are available because Galileo’s management highly values each of its visitors and considers it its responsibility to listen to their changing expectations and needs.
the project is currently under reconstruction. According to the plan, it will be one of the largest gyms in the country, with equipment purchased to the highest quality standards. There also will be the first fusion food outlet in Belarus. Here you will have possibilityto taste very tasty dishes created according to the traditions of the East and Europe. Also on the top floor of the building will take a place a newfangled cinema, created in the traditions of avant-garde and nouveau styles.
Eight years have passed since the foundation of Galileo Shopping and Entertainment Complex. This means that the time has come for a big change, which has been taken over by the BNK Estate construction company, which has established by Abdo Romeo Abdo.