By Kate Tabatadze
Arakishvili Residence is a residential complex located in central Vake that has a distinguished architecture, affordable prices, and flexible payment terms.Head of Colliers International Georgia’s brokerage services Zaza Baiadze spoke to Property Georgia about Arakishvili Residence.
- Based on what criteria is Colliers International Georgia choosing its projects?
For us, one of the most important factor during the process of selecting the projects is to share mutual interests with our partners and to correctly determine our priorities – to what extent do our views coincide with regards to such significant issues as product quality, trust, or adherence to international business standards and deadlines? It is also important to establish long-term and fruitful business relations.
As a rule, Colliers International Georgia becomes fully involved in a project. In the case of managing a residential complex, our company combines marketing and sales services. This process is preceded by project development, which is also conducted by our company.
Generally speaking, Colliers International Georgia is a global real estate service company that offers full service for real estate owners, lessees, developers and investors both domestically and globally. The company’s main fields of activity are real estate development service, corporate brokerage, real estate research, consulting and assessment.
- Why did you choose Arakishvili Residence, and what makes this project stand out?
Arakishvili Residence is primarily interesting as a development project. It is also attractive from architectural point of view, and further stands out due to its great location.
The project is being financed by the Bank of Georgia, which serves as a guarantee for its successful completion. This was a crucial factor in Colliers International’s decision to become involved in this project.
- Which company is conducting the construction and architectural works? What about the quality of the construction?
The construction of Arakishvili Residence is conducted by Anagi, which is currently one of the largest players on the Georgian market in this field. It has numerous ongoing and finished large projects to its name. It is worth highlighting the company’s high quality of work and fast working schedule.
- What is included in the residential complex infrastructure?
Arakishvili Residence has a distinguished location in central Vake. The residential building is easily accessible by private and public transport. Getting to Arakishvili Residence is convenient from almost any point in the city.
The four-block, fourteen-storey building naturally enriches Arakishvili Street. The building’s ground floor, with its pedestrian path and tall vitrages, will form a kind of a passage. The complex has 84 residential flats. The building’s basement contains a two-storey car and bicycle parking lot, while the yard has a sports field. The green and well-equipped yard is separated from the street by a barrier. The flats are ideally planned for different views and tastes.
- Which segment is being targeted?
Arakishvili Residence’s target audience is primarily made up of clients with middle and high income levels – people who value quality and prioritise living at a prestigious location in the city centre.
- What payment and financing terms do you offer your customers?
Clients have the opportunity to benefit from an interest-free internal instalment payment plan until the completion of the project. They can also take out loans which the Bank of Georgia is offering them at an interest rate of only 6%.
- When will the construction be completed, and in what state will the flats be delivered to the clients?
Arakishvili Residence will be formally delivered to clients on 30 November 2017, with owners receiving their flats in the so-called ‘white frame’ state.
- What are the company’s pricing policies like, and do you have seasonal promotions?
On the average, 1 sq.m. of area within the residential complex costs between $1200 and $1400. However, we are now running a promotion which will allow customers to pay a discounted rate of $1000 per sq.m. until 15 September.
- What guarantees do you offer customers in terms of quality or timely completion of construction?
The involvement in this project of leading companies such as the Bank of Georgia, construction firm Anagi, and one of the world’s largest real estate service provider Colliers International, can be viewed as the main guarantee.
As for the quality of construction, this is a responsibility of the company Anagi, which is known for its high standards and fast working schedule.