White Sails: Welcoming a New Living Standard with 10,000 sq.m. of Recreational Space

The recent changes in the construction regulations in Georgia made an impact on the real estate market. From one side, the changes were necessary due to the recent liberal approach which caused the rapid but chaotic development of the real-estate segment.

The applied regulations are in favor of citizens and customers: new rules regulate the issues which are of greatest concern, like architecture, parking, and recreational zones. Of course, the potential buyers should be happy by this as it means they will receive a much better product at the end of the day.

A number of developers are less than eager to welcome the new regulations, as it means they have to spend more on infrastructure and facilities, increasing the direct cost of the construction. At the same time, price is regulated by the market, so instead of increasing the selling price, investors are forced to reduce the profit margins.

In all countries, the capital cities represent the core of economic growth, business, buying power and other economic indicators, and the same applies for Tbilisi, but what is the situation in the regions?

Over the last decade, Adjara has become a center of real-estate development. The presence of local and international investors and proximity to the sea have made Adjara the main “exporter” of real estate to foreigners, who represents at least 80% buyers there. Foreigners are buying apartments as their summerhouses, for business and for living. Actually, more for business and less for living, because the current style of apart-hotel type buildings is not typically very comfortable for a cozy or quiet lifestyle. If we analyze the real-estate market of Adjara, it is obvious that all developers are offering more or less the same terms. They are attracting customers with small studio apartments, with payback in around four years, with entertainment facilities or international brands, and management and rental services of the property. But, unfortunately, no recreation zone or yard where kids can play. Will these buildings comply with the new regulations?

Among all these skyscrapers, the White Sails residential complex is grabbing potential buyers’ attention with quite a strong selling point: over 10 000 sq.m. of common recreation space and yard. The White Sails complex is located in the most developed (and developing) area of Batumi and it is not a simple building with flats for sale; it really is a residential neighborhood for living in. With all the facilities, parking for over 70% of residents, outdoor swimming pool, children’s playground and other infrastructure, the complex, which is set for conclusion by the end of 2019, sets one of the highest standards in the real estate market, in fact, much higher that the new regulations require.

The authors, developers and owners of this unique complex are Raul Kaitamba and Astamur Chazmava.

“We’ve been in the architecture design business for over 14 years,” they told us. “To date, we have designed over one million square meters, including houses, hotels and sports complexes. We realized that most developers request commercial living buildings, meaning overcrowded flats in skyscrapers. We saw a niche for a product which is targeted on customers that have higher demands in quality, that need not just a flat to rent out but place they could live and do business in at the same time. Therefore, we decided to create a residential complex that people would love to live in, which will be comfortable, and which considers all the needs of its residents. The multifunctional residential complex White Sails is placed on a 19 000 sq.m. land plot and consists of only five blocks with a total of 850 apartments. The decision was made to sacrifice the commercial part to create more comfort for residents; for example, the current new regulation requires having parking space for 40% of the apartments, and we raised that to 70%. We decided not sell the parking space but to have it as free usage for the apartment owners. Most important, instead of making an area overloaded with buildings, we dedicated over 10 000 sq.m. for common recreational facilities like a children’s playground, eco-zone, outdoor swimming pool with a section for children, walkways, outdoor fitness zone and more. Add on high safety standards, smart house function and competitive prices and you get unique, resident-oriented living comfort. We also offer management and rental services, as we believe tourists will greatly enjoy all the facilities of the complex.”

White Sails complex has surpassed the strict regulations and created a product that is highly in-demand on the market. This means that it is possible to fulfill the requirements and regulations and still be competitive.