The revival of global tourism is expected to start in the spring of 2021. The holiday industry and real estate are related sectors, as can be seen from the example of Batumi in Georgia. The aparthotel business has been developing rapidly in the Black Sea resort over the last few years. New development projects in Batumi are continuing in the expectation of the recovery process. The city's investment opportunities in the post-pandemic period are viewed positively by Solis Residence. “Demand for apartments in Batumi will increase as the epidemiological environment improves and international air traffic is restored. Real estate will remain an attractive investment asset,” states the CEO of Solis Residence Archil Vanadze. According to him, by conducting active marketing campaigns and complying with the existing guidelines, businesses can adapt to the new reality and position themselves properly.
Solis Residence is a 26-storey complex that is being built by the development firm Elite House in the New Batumi Boulevard, next to the coastline. The word ‘solis’ denotes the sun in Latin. “Solis Residence offers unique views over the New Batumi Boulevard and the sea. The sun fills this project with energy,” Mr. Vanadze states. The project location is important, since a healthy environment is crucial to urban development. The complex is situated 10 meters away from the New Batumi Boulevard – a 12-hectare recreational space that makes life particularly comfortable. The project’s energy efficiency is another important environmental component. This is particularly significant in tourist cities such as Batumi. “Our aim was to use modern technologies to build a house in a city that is associated with the sun, the sea, the boulevard and holidaymaking. At the same time, Batumi is a business centre,” the CEO of Solis Residence explains.
The development firm’s main message to potential homeowners is that the project represents a smart investment. Apart from the fact that property prices in Batumi increase each year, the apartment rental service provides homeowners with an opportunity to attain an average return of around 10% on their investment each year, creating a constant source of income. The company offers a full management service for apartment rentals.
The construction of Solis Residence is carried out with a vision of the future. The project incorporates all technological innovations required by a modern person in a developed country. Through smart home systems and a special software, homeowners will be able to remotely control the security systems and manage apartment rentals and bookings.
Apartments can be purchased with a mortgage loan of up to 20 years, taking advantage of the 4% state subsidy programme. An exclusive offer by TBC Concept enables an additional discount of 5% to 9%. Apartment sizes start from 30 m2. The down payment is only 10% of the price of the apartment, while the rest can be paid in internal interest-free instalments over a period of 36 months.
Apartments can be purchased both in white frame and turnkey condition. The first phase of construction is currently under way, involving the installation of piles on the building site. Construction works are carried out by Anagi, one of Georgia’s largest construction firms. “Everything we do is of high quality. Anagi is the leader on the local construction market, guaranteeing that all of the company’s obligations before its clients will be honoured in full and the project will be completed within the set timeframe,” Mr. Vanadze states. Construction of Solis Residence is due to be finished by December 2023.
Project development company Elite House were founded by the management group of Nova, which has 15 years of experience in the import and production of construction materials.
Along with Solis Residence, the company is also planning to implement further new projects in 2021.
