London: Time to Invest in Georgian Real Estate

More than 100 Georgian and British businessmen gathered in London, at the Palace of Westminster, Houses of Parliament, in order to find out more about the opportunities in Georgia’s expanding real estate and hotel development sector. The aforementioned event, entitled “Invest in Georgian Real Estate”, co-organized by real estate services company Cushman & Wakefield | Veritas Brown and Georgian National Investment Agency, brought together leading Georgian and UK Real Estate developer companies, Private Equity Funds and a high-level group of professionals.

The attendees had a chance to learn more about upcoming commercial and non-commercial large-scale projects and discuss possibilities of their future engagement in the country’s real estate market.

“Invest in Georgian Real Estate” was supported by the Embassy of Georgia in the UK and the British Embassy in Georgia and sponsored by a development company m2. The organizers hosted Networking Reception, which was attended by BRIT-nominated Georgian musician - Katie Melua.

According to IMF, Georgia’s economic activity is set to be weakened as a result of the economic crisis in Russia and reduced oil prices. However, most experts do not predict drastic financial meltdown and maintain a positive outlook on the country’s economy. Tom Day, Regional Director of Hospitality Services & Investor Services for Cushman & Wakefield | Veritas Brown, believes that now is the time to engage in the country’s real estate and hotel development sector – “Demand for real estate in Georgia is strongest from Turkey, Azerbaijan and China, with stronger demand seen during 2014 and 2015 from the GCC region and Western European countries.” The recent legislation passed by the Parliament of Georgia also works in favor of investors, as it makes it easier for them to stay in the country, attracting more businessmen.

Despite the tension, the future of Georgian businesses seems bright and, thanks to such projects as “Invest in Georgian Real Estate,” Georgia’s real estate and hotel development sector will show no signs of slowing down in the near future either.

Beqa Kirtava

11 June 2015 21:56