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2 Oct 2020

Commemorative capsule ceremony at national exhibition center construction site just outside Minsk

Commemorative capsule ceremony at national exhibition center construction site just outside Minsk

MINSK, 2 October (BelTA) – Prime Minister of Belarus Roman Golovchenko and Chairman of the investment company Emaar Properties Mohamed Alabbar have placed a commemorative capsule at the construction site of a national exhibition center just outside Minsk. The center will be the first building in the area where a smart city will rise in the future, BelTA has learned.

Roman Golovchenko said: “Any country would be proud to welcome such an investor. It is also a strong signal to other potential investors that are weighing pros and cons and analyzing the situation. It is a very important event from the point of view of replenishing the Belarusian portfolio of success stories.”

In his words, in the entire history of the country it is one of the most significant investors that have decided to implement a project relating to direct investments into the Belarusian economy. “The terms of the investment contract are being worked on now. But it will not contain any exclusive privileges. The general terms are attractive to foreign investors the way they are. Moreover, the company has previously indicated it will take care of a large social burden that will not generate profits but is very important for the entire real estate development area,” Roman Golovchenko added.

The official noted that it is a long-term project taking into account all the phases of its implementation. The detailed layout and development stages are being worked on now.

Roman Golovchenko also stressed that the Belarusian economy needs such a facility. “Our capital city needs a world-level national exhibition center where we could demonstrate the latest accomplishments. The complex is only the beginning of the majestic project our guest has suggested and the country’s leadership has approved of. We hope that one of the world’s leading real estate developers will utilize all its experience and competences in the Belarusian capital city,” he said.

Minsk Mayor Vladimir Kukharev is convinced that the arrival of such an investor in Belarus heralds the coming of new technologies, innovative materials, and new approaches to civil engineering. “I am convinced that thanks to the construction of such objects financial and business institutions will emerge in Minsk to contribute to such projects and to the organization of exhibitions that will welcome guests from various countries,” he stated.

In turn, Mohamed Alabbar noted that the company examines the politics and the dynamics of the economy of the countries it works in before deciding in favor of investing. “It is totally obvious that Belarus is on the right development track and faces a good future. The president has built a successful country from the point of view of security, politics, and administration structure,” he stated.

Speaking about the national exhibition center, the investor said it will host not only exhibitions but conferences and various cultural events. Cutting-edge technologies will be used in the course of its construction. “Expos are the economic engine of the country. Small business grows to become big business thanks to such expo centers. I hope this facility will become such a point,” he concluded.

Mohamed Alabbar is a co-owner of large international companies specializing in investments, real estate, hospitality business, electronic commerce, logistics, public catering, fashion industry, and other areas. His businesses are present in more than 50 countries across the globe. He inspired the vision of today’s Dubai and worked to implement the concept. He is a key advisor for economic and investment affairs (personal and national ones) for leaders of Abu Dhabi and Dubai.

Emaar Properties is one of the world’s largest real estate developers and civil engineering investors. The company owns over 60 daughter enterprises and is present in over 30 countries in the Middle East, North Africa, Asia, Europe, and North America. The company specializes in hotel business, trade and entertainment infrastructure, commercial real estate leasing, development of information and communications technologies and services, real estate investments and maintenance. Dubai’s largest civil engineering projects, including the world’s tallest building Burj Khalifa and one of the largest shopping centers Dubai Mall, have been implemented by Emaar Properties. Apart from that, the company is busy developing the King Abdullah Economic City in Saudi Arabia. The project occupies 168km2 and comprises a sea port, an industrial zone, a business area, a residential area, and a resort area. It features education and healthcare institutions, retail facilities.

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