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25 November 2022, 15:32

Northern Waterfront project hailed as new milestone for Minsk

MINSK, 25 November (BelTA) – The Northern Waterfront project will market a new milestone in the development of Minsk, Deputy Head of the Industry Directorate - Head of Production and Technology at the Belarusian Construction and Architecture Ministry Aleksei Podvolotsky said during a ceremony to sign an agreement on cooperation in the construction of the multifunctional complex between Belarusian Cement Company and Riverside Development Holdings Limited from the UAE, BelTA has learned.

Aleksei Podvolotsky stressed that Belarus is very interested in cooperation with Arab partners.

"The grandiose investment project has entered the practical stage. Its implementation will have a positive impact not only on our mutual cooperation, but will also mark a new milestone in the development of Minsk and Belarus as a whole. As for the construction industry, our companies are ready to implement ambitious goals and provide any assistance to this project. This is a long-term cooperation, which will cultivate long-term relations, including with companies and builders," Aleksei Podvolotsky said.

He noted that the Northern Waterfront project provides for the construction of a neighborhood and also an information and business center and places for recreation. "Today customers are not interested in buying just property. They are interested in buying services and infrastructure. It is important for a person to live in a landscaped neighborhood. This approach is now applied by many developers," Aleksei Podvolotsky added.

On 13 May 2021 Belarusian President Aleksandr Lukashenko signed Decree No. 186 “On the implementation of an investment project in Minsk”. The document sets forth the terms of the construction of a ‘smart city' in Minsk. The project is estimated at €4 billion and will be running for 20 years. The Northern Waterfront experimental multifunctional complex will be built within the boundaries of the Minsk Ring Road, the Tsnyanskoye Water Reservoir and the Drozdy Water Reservoir. This will be a high-density neighborhood (93% of almost 1,000 hectares). The project envisages the construction of 6 million square meters of housing, the National Exhibition Center, the Institute of Artificial Intelligence, the Minsk Center for International Trade, schools, kindergartens, a public park and other facilities of social, engineering and transport infrastructure.

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