Tall & Urban News

Construction Starts on Four-Building Residential Complex in Minsk

The complex site is situated in the north-eastern part of Minsk in the Sovetskaya district, near the Cnianskoe reservoir.
The complex site is situated in the north-eastern part of Minsk in the Sovetskaya district, near the Cnianskoe reservoir.
15 April 2020 | Minsk, Belarus

Tenkinvest has started construction of the 4 Sezona (Four Seasons) residential estate in Minsk. As the Belarusian currency is vulnerable to rapid devaluation, the developer has frozen the apartment prices in Russian rubles.

The complex site is situated in the north-eastern part of Minsk in the Sovetskaya district, near the Cnianskoe reservoir. Four 16-story blocks, a shopping center with a car park for 300 vehicles, and green areas are to be developed on the plot of a former estate of wooden houses.

Concierge services, mini-libraries, stroller storage rooms, bicycle parking areas, and free rental of electric scooters are to be provided as amenities in each building.

The buildings will have ventilated façades with textured concrete. The apartments themselves will have panoramic loggias and French windows.

Prices for unfitted units amount to around RUB3,100 to 3,200 (US$41 to 43) per square meter. Recently, the value of the Belarusian ruble has fallen from BYN2.25 to more than BYN2.6 against the US dollar, resulting in an increase in property prices and interest on loans.

“We have frozen the exchange rate at the level of RUB2.5 per dollar, which will allow our clients to minimize the exchange rate risk of purchases” commented a representative of Tenkinvest.

Around 50 percent of the apartments have been sold in the first building, which should be ready in March 2021. The construction of the entire project will take around 3.5 years.

For more on this story, go to Eurobuild CEE.