The new Belarus office of real estate consultant Colliers International expects the construction of Class A office space to double to 52,000 m[sup]2[/sup] in the capital Minsk next year. Collier's market overview also forecasts that construction of Class B and C offices is to increase from 20,800 m[sup]2[/sup] this year to 86,600 m[sup]2[/sup] in 2008, and that this is likely to swamp the market in this segment for a time.

The new Belarus office of real estate consultant Colliers International expects the construction of Class A office space to double to 52,000 m2 in the capital Minsk next year. Collier's market overview also forecasts that construction of Class B and C offices is to increase from 20,800 m2 this year to 86,600 m2 in 2008, and that this is likely to swamp the market in this segment for a time.

A shortage of land and parking lots in the centre of Minsk is likely to result in the development of new office projects further out from the city centre, the property advisor said. Colliers International, which opened an office in Minsk earlier this year, is the first international property consultancy to operate in Belarus.