LONDON, April 18, 2018 (GLOBE NEWSWIRE) -- Living under the strict rules of Yugoslavia’s socialist government was not always easy for the Karić family. Limitations on private enterprise conflicted with the family’s long-held entrepreneurial spirit, while high unemployment and the mass emigration of skilled workers made economic growth difficult to achieve.

It wasn’t until the country loosened its ideological restrictions in the 1960s that the Karić family’s business ideas could finally come to fruition. After opening the first private factory in Eastern Europe, they subsequently created the BK Group and set about transforming it into an industrial network of more than 400 contractors. The prevailing communist power structures in Beijing and Moscow may have disapproved the family’s entrepreneurial endeavours, but the development of the local economy was a vindication of their efforts.

Today a BK Group subsidiary, Dana Holdings, continues to show how private enterprise can deliver sustainable growth and empower local workers. The real estate construction company has already completed more than 1,000 projects across various markets and has many more planned for the future.

Among its most high-profile developments is Minsk World, a 3,000,000sq m mixed-use project scheduled for completion in 2028. When finished, it will comprise 30,000 high-quality residential units, 305,000sq m of Class A office space and a new International Financial Centre capable of attracting investment from all over the world.

Although the fall of the Iron Curtain has certainly caused an upturn in fortunes for many former-Soviet countries, there remains work to be done. States in Central and Eastern Europe still need an estimated €615bn of investment in transport infrastructure to catch up with countries in the West. Fortunately, Dana Holdings is helping to make that happen, one project at a time.

For more about Dana Holdings and how its construction projects are providing a boost to economies in Eastern Europe, check out an exclusive article in the latest edition of World Finance, available in print, on tablet and online now.

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