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Minsk City Mall to be built for $ 20m in Belarus’ capital

Next year it is planned to begin construction of the Minsk City Mall shopping and entertainment complex close to the capital's railway station. The project is implemented by Amtel Group, founded by Russian businessman of Indian origin Sudhir Gupta.

Now the shopping and entertainment complex is in the design stage. “The conceptual architect of the project is international company Chapman Taylor,” as it was noted in the developer unit of Amtel Properties Group.

The construction period is up to three years after the passage of the design expertise. The volume of investments is at least $ 20 million. The total area of the shopping mall, which will present major national and international brands, will be about 50 thousand sq. m. Regulated land plot is located in Dryzhnaya and Tolstogo Streets, in close proximity to Vokzalnaya metro station, which is under construction.

Minsk City Mall will be a logical infrastructural continuation of the multipurpose complex located opposite to Hampton by Hilton Hotel and the business center, also owned by Amtel Group," as it was noted in Amtel Properties.

The hotel and business complex was opened in late 2015. The volume of investments amounted to $ 18 million. It was the first project of Amtel Properties in Belarus.

During the ceremony, CEO Daniel Gupta announced his intention, despite the unstable economic situation in the region, to start and finish on time the construction of the second project in Minsk — Minsk City Mall shopping and entertainment complex.

Amtel Properties was founded in 2005 on the basis of non-core assets (land and facilities) of Amtel Group, which was founded by Sudhir Gupta. He is of Indian descent, arrived in Russia in the late 70s of the last century. He created Amtel Group engaged in various types of business: supplying rubber and electronics, producing juices, mineral water, alcoholic beverages, tires. In 2005, Amtel Group acquired one of the largest tire corporations in Europe — the Dutch company Vredestein. However, two years later Sudhir Gupta sold his stake in the company, and invested the money in real estate operations. The real estate operations are the main activity of the Group.

Amtel Properties portfolio is of 1 million square meters. The company implements projects in the warehouse, office, hotel sectors in Russia, Ukraine, Georgia and Belarus.

“In Belarus, by the way, it is very comfortable to work — the city administration is very active, going forward, in compliance with all the terms of coordination. Our facility we built ahead of schedule by almost a year, «told Sudhir Gupta to Vedomosti in April last year.

Source: naviny.by