Why is it profitable to invest in the construction of Gomel
Over the past few years, Gomel has shown good dynamics of development, which was not left without attention both for local and foreign investors. Moreover, the Belarusian city has become interesting not only for Russian businessmen and CIS citizens, but also for entrepreneurs from other regions. Companies from Iraq have expressed their desire to invest in the construction of Gomel. They are ready to invest in the real estate market and see here a good potential for income generation.
Such a statement was made at the official meeting between the Chairman of the Regional Executive Committee of Gomel and the Consul of Belarus in Iraq. Officials shared their experience and considered new ways of cooperation between the states. The Consul noted that Iraqi businessmen are ready to invest in the segment and are interested in the construction of shopping malls and apartment buildings, both multi-storey and private. In addition, they want to share their experience with local specialists, jointly determine the best options for work. Now foreign investors are carefully analyzing the Gomel market and selecting land plots that are suitable for the construction of new facilities. After that, the parties will talk more about cooperation and mark the important points. Preference is given to options where it is possible to erect several buildings at once – shopping and entertainment center and a residential building.
Iraqi companies are interested in developing business in Belarus. They do not exclude the possibility that in addition to Gomel, they will enter the markets of other cities. However, this region has its advantage – a favorable location. The Gomel region borders both Ukraine and Russia, it has high economic indicators. Various industrial enterprises are concentrated in the region, which are also open for investment.
Businessmen from Iraq visited Gomel and got acquainted with the land plots, which are suitable for realization of projects. Foreigners noted the prospects of cooperation and interest on the part of local authorities. Belarusian officials hope that foreign investors will soon enter the city market.
Gomel Region has been cooperating with Iraq for many years. According to the data for the previous period, the foreign trade turnover between the enterprises of the region and the eastern state amounted to 20.6 million dollars, which is an increase of almost 182% compared to 2018. Most of the region supplies products made of ferrous metals, wood products, lumber to Iraq.
Gomel is also actively developing other segments through foreign investments. In 2019, it managed to attract about 1.4 billion dollars of investment from foreign companies, this amount was aimed at improving the sports industry of the city and the region. This money will be used for construction of hotel complexes, sports and fitness centers as well as for creation of new infrastructure facilities.