MAQRO Construction Commences New Housing Project In Tbilisi

Having delivered its first housing project, Green Budapest, in Georgia, MAQRO Construction has now shifted its focus to a new housing project in Tbilisi. The Green Diamond, consisting of 1772 apartments, was announced to the public with a commencement ceremony on May 28. Renowned footballer twins Achil and Shota Arveladze participated in the new project’s introductory film.

The Green Diamond is a massive new housing project with not only apartments but a variety of infrastructure, social activities and a green area.

Oguz Kaan Karaer, MAQRO Construction’s Chief of Project Development PR, Sales & Marketing Officer says there is a need for qualified and complete apartments in the country. “MAQRO develops projects responding to such needs. We have already begun delivering our first project, Green Budapest and the sales and marketing process for the new Green Diamond project began on May 28, 2016.”

Karaer went on to underline that the confidence created by their high quality apartments allows these products to be swiftly and easily rented out. Consequently, he said, investments made in MAQRO projects can redeem themselves within seven or eight years with the income they generate from rent.

Green Diamond

The Green Diamond project that is being built in Tbilisi will consist of 1772 residential apartments. The payment plan that will be offered with this massive project taking place over a field of 70 thousand square meters will also make it easier to purchase homes. Prices are to start from 25,000 American dollars. It can be possible to be a homeowner in Green Diamond by paying 2.500 USD down payment, and monthly installments of 250 USD.

Life at the project will begin in May, 2018

“Apartments in the new project will be built to European standards and delivered after total completion. Those who buy the apartments will be able to move in and start living on the date of delivery. We are aiming to finish this project quickly, by May 2018. We are confident we can do it,” said Karaer.

Neighbor to a large university

“The project’s growing investment value will contribute to the region’s development,” said Karaer, ading that a new university will be based 600 meters from the Green Diamond project. “The Georgia Institute of Technology is being built over a field of 240 thousand square meters and the foundation has been laid. Furthermore, there are other private universities in the region. This project is located in the most convenient place to live or to rent. On top of that, it is being built with the quality and trust of MAQRO.”

Large high-quality surrounding neighborhood

Underlining that Green Diamond has important opportunities for socialization, Karaer says that the project makes a difference by its use of ecologic and green fields. “Green Diamond presents buyers with an opportunity as valuable as gold. A massive neighborhood with high standards and 1772 residential apartments built in Tbilisi in a neighborhood with its own kindergarten, school, swimming pools, social areas, outdoor and indoor fitness centers, market, café, pharmacy, and more.

Perfect payment conditions

Unit prices start from USD 25,000 in Green Diamond. It is possible to buy an apartment with a down payment of USD 2,500 and then monthly installments of USD 250. Units will start redeeming themselves within 2 years with income generated from rent. Investors who invest in Green Diamond will be able to redeem their investment with only income from rent over seven years.

Customers should pay a 10% first installment, only 1% monthly for 30 months and 60% when the construction is completed. The more down payment you pay, the more discount you can get, up to 15%.

“In Georgia, people have a great desire to improve their lifestyles, are willing to have better life conditions, but unfortunately the financial situation often prevents them. Green Diamond is the best opportunity,” Karaer said. “According to our flexible payment terms people have the chance to pay only down payment (2500 USD) and monthly payment (totally 7500 USD for 30 months), that is only USD 10,000 USD and the remaining 60% from the rent fee, as the last payment is in the period when they can use a bank loan. MAQRO construction has created unprecedented and tailored payment terms to help people have a different, modern life. With this kind of payment term the construction of Green Diamond is financed by MAQRO construction’s own finances, not from the proceeds of sales.

Archil and Shota to advertise the project

The advertising faces of the Green Diamond project, the Arveladze twins, are among the home owners in Green Budapest project.

“Deliveries in the company’s first project, Green Budapest, began as of this month. Green Budapest is the first project through which we met the Georgian market. We are demonstrating the quality of our company to the Georgian public by completing this project on time. Green Budapest consists of 351 fully furnished homes. This investment is among the top 10 foreign investments in the country, according to Georgian National Statistics Bureau,” Karaer said.

Proceeding with the goal of becoming a global brand, MAQRO Construction has made investments throughout Georgia. The company built the four-star hotel of Mercure Tbilisi Old Town and turned it over to the managing company Accor Group.

Due to MAQRO’s advantageous circumstances in business and investment environment, Accor Group continues its cooperation with MAQRO in their new project. The company is planning to open its new hotel investment, being undertaken in cooperation with Accor Hotel, the IBIS STYLES HOTELS Tbilisi, in 2017.

DINEHALL Tbilisi, recently introduced as the first casual café-restaurant in the world and located in the heart of the city, also opened its doors to guests in June with a concept of bringing food and art together.

MAQRO is also operating in the retail sector with its furniture brand, Bellissa.

Katie Ruth Davies