David Namgaladze -Chief Commercial Officer

York Holding's success story began in 2016, and the number of satisfied customers grows yearly. Chief Commercial Officer (CCO) of York Holding Group, Davit Namgaladze, talks about the current situation in the company and prospects.

What does it mean to be a member of YHG?

York Holding is an exceptionally fast-growing company that constantly innovates in the market while also focusing on establishing responsible business standards. Being a member of this team means being ready for innovations and challenges, focusing on development, and constantly improving existing results.

How was the pandemic period for your company and what changes did you make?

The company adapted to the current reality quite quickly. When most employees could not go to the office and the operational cycle was at risk, 2020 was quite successful. The basis for this was offering properly selected messages and products to international and local investors.

In the face of the restrictions and uncertainty caused by Covid, offering relatively small investments and customized payment schedules has proven particularly effective. The mentioned changes increased the trust in the company and contributed to the growth indicators in the next period.

How would you assess 2022? What did last year teach you?

2022 was distinguished by the best results in the holding's 6-year history. Diversification of projects and correct investment calculations, along with the growing trends of real estate in the country in general, allowed us to record a 150% increase in sales compared to 2021.

In addition, 2022 saw the strengthening of all company areas and a significant increase in team members. The mentioned fact contributed to the rise of the efficiency of the performed work and, at the same time, expanded the prospects.

What is the potential of the Georgian market? In which countries is the demand increased?

The potential of the Georgian market has been steadily growing over the last years if we do not consider the migration processes of the previous year, which led to a significantly increased demand in the third quarter.

Traditional markets remain active, supplemented by the demand from Eastern European countries and the Middle East. The real estate market of Georgia is truly a unique and interesting investment destination. According to existing studies, there are no signs of the economy overheating; therefore, we do not expect prices to decrease.

Is there competition in the local market, and what are the main challenges?

On the one hand, the competition definitely exists and is growing, but on the other hand, none of the outstanding projects have problems with realization. The main thing is to deliver a quality product to the market, which means offering real estate as a complex infrastructure, space, and not just a specific residential or commercial unit. Based on the above, our niche projects are located away from the city center, where there are more opportunities to offer our customers a comfortable and healthy environment.

What are YHG's future goals and plans?

This year we will launch a real estate management platform initially intended for existing clients, allowing you to earn income from real estate rentals without extra effort. We opened a new branch in Dubai three months ago and will soon start operating in Eastern Europe. We plan to open another representative office in a new country by the end of the year. In addition, we are actively working.

We will continue to make successful investments and offer customers innovative new projects.

As we know, you are working on new, completely innovative projects for the Georgian market at this stage. Tell us about it.

Yes, we are actively working in two directions. First - it will be an opportunity to invest in real estate across the ocean, due to many factors, in a very attractive geographical location. According to our research, it will be significantly interesting to local and international customers. And the second is a digital platform that will introduce a completely different approach to investing in real estate and make it more accessible, regardless of the location and market value of the real estate.