"Music Island" Project on Ilia Lake to Feature Homes from $170,000

Ilia Lake, located in the Kvareli Municipality of Georgia's eastern Kakheti region, is under construction. A new housing complex is being built on its surface, called Music Island. The small lake is already becoming crowded with homes, mainly used as holiday rentals.

Music Island is being built by Ferrus Georgia and will be managed by Royal Batoni, the castle-like hotel overlooking the lake. Ferrus Georgia is a branch of Latvian construction firm Ferrus, which specializes in enivronmentally friendly projects. So far, they have invested 1.5 million EUR.

Prices for the new housing complex have recently been announced - $171,000-228,000 - clearly targeted at the wealthiest few Georgians or foreign investors. Few in the Kvareli region will be able to afford this exclusive, luxury development.

“At this stage, we have already constructed six houses and another six ones will be added in summer 2019. These eco houses are being built immediately on the Lake surface; We have already constructed a concert Island for various events. Royal Batoni will manage the leasing of these houses and maintain the infrastructure. We will provide services for this company and operate it as a hotel, restaurant and a concert island. In June-July this infrastructure is scheduled to be fully completed and to launch operations”, said Gia Piradashvili, founder of Royal Batoni and Chateau Mere.

By Samantha Guthrie

Photo: Georgian Holidays