Business news

22 Feb 2021

Lukashenko to consider draft presidential decree on Northern Waterfront project soon

MINSK, 22 February (BelTA) – A draft presidential decree on the Northern Waterfront project will be considered by the president very soon. Prime Minister of Belarus Roman Golovchenko made the statement as he met with Chairman of the Board of Directors of the investment company Emaar Properties Mohamed Alabbar on 22 February, BelTA has learned.

Roman Golovchenko said: “It’s been quite some time since our last meeting, since the commemorative stone was placed at the site of the future national expo center. Nevertheless, we didn’t waste this time. The government and the city administration have been working hard on the draft presidential decree on the investment project Northern Waterfront and on the investment contract between your company and the Minsk City Executive Committee. The work is nearly finished. The presidential decree has been drafted and will be forwarded for consideration of the head of state soon.”

A company has been set up in Belarus to take care of the project’s implementation. “We expect the company will start working hard on developing the site after the presidential decree is signed,” Roman Golovchenko stressed.

In his words, the terms the investor will get are most attractive. The prime minister said he was confident that today’s arrival of Mohamed Alabbar will help address the last few issues and will help launch the project soon.

Mohamed Alabbar said he invests in 14 countries across the globe. “Belarus is not just a place for me to invest in. I see it as a country where I have friends,” he stressed.

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. 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.