How Attractive Is It To Invest In Real Estate In Georgia?
With simplified registration procedures and tax code, lower and unprogressive taxes, as well as a positive attitude from the government and various investment institutions towards local and foreign investors, make Georgia one of the more attractive countries to do business and invest in. That is why multiple investments have been conducted in the Georgian construction sector. I would also like to point out that the most significant investment projects from the past few years, such as Hilton Batumi, Millennium Tbilisi, the East Point shopping mall, the Hyatt and Intercontinental hotels, Axis Towers, King David, hotel Rixos in Likani, as well as other projects, will leave a significant mark on the Georgian real estate sector.
Of course, there are certain factors that affect the country’s economy from time to time. However, one must also bear in mind that unlike the European markets, the Georgian market is not yet saturated, and is still offering diverse opportunities to the investors.
What Makes Your Company Stand Out?
Approximately four years ago, when Cushman & Wakefield | Veritas Brown began operating on the Georgian market, we brought together the best specialists whose experience and professionalism, as we can confidently claim, guarantees the high quality of our service.
The company provides full service in the field of real estate that is tailored to the customer’s diverse demands – buying/selling/renting out, managing commercial real estate, investment, assessment, and research/advice. Growing demand for experts and qualified consultants on the real estate markets of Central Asia and the Caucasus led to the establishment of our company.
Development of the real estate market in Georgia is important to us, and we are actively cooperating with all the major players in this field: financial institutions, development companies and hotel operators, as well as commercial property owners who wish to increase the profitability of their property through professional management, sales, assessment or rental. We have a broad database of both local and foreign companies/investors, and with the help of this software, we can conduct a filtering process to fit an individual project or an investor’s demands. Clients who turn to us will get professional advice and high-quality service. The success of each one of them is our priority. Our client portfolio includes large companies such as the Silk Road Group, TBC Bank, Rakeen Development, Hualing Group, Capitol Holding, Wissol Group, as well as numerous large development companies.
What Advice Would You Give Private and Institutional Investors, About Investing In Real Estate In Georgia?
The tourism sector stood out through its growth over the past few years, and it therefore became a major target for investors. This is the area in which both the existing and future major projects are developing, and numerous international hotel operators are entering the market. Notably, the niche is relatively free for low-budget and economy-class hotels, and it is therefore currently a subject of great interest for investors. One could also highlight the potential of agricultural tourism (wine tourism in particular), and the development of infrastructure in this field. There are numerous other areas in Georgia that are yet to be developed and explored, and they have a promising future.