ORBI Group Project Gains World Recognition
The Orbi Twin Tower is the new grand project built on the coast of the Black Sea in Batumi. With 4,500 rooms, it will be the sixth largest hotel by capacity. The project was awarded The Best Investment Project 2016 in Panama which means Orbi Group was awarded an “Oscar” in the real estate sphere.
We talked with the General Director of Orbi Group – Irakli Kvergelidze about the project, the prize and its significance.
What does it mean to build the 6th largest hotel complex and who else is in the world’s top ten?
The world’s top ten:
1. Las Vegas - The Palazzo Resort Hotel & Casino - 8108 rooms;
2. Moscow – Izmailovo’s Hotel Complex -7500 rooms;
3. Las Vegas - The Signature at MGM Grand - 6772 rooms;
4. Malaysia - First World Hotel - 6118 rooms;
5. Las Vegas - Encore Las Vegas - 4570 rooms;
6. Batumi - ORBI Twin Tower - 4500 rooms;
7. Las Vegas Luxor Hotel&Casino – 4400 rooms;
8. Las Vegas - Mandalay bay – 4337 rooms;
9. Thailand - Ambassador City – 4210 rooms;
10. Las VEgas - The Venetian – 4027 rooms.
Orbi Group is proud of carrying out a project which will put Georgia on the world map in the real estate market. This project goes far beyond regional significance and gives our company, and Batumi as a touristic destination, a completely new importance. More information about the Orbi Twin Towers can be found at www.orbigroup.net.
How important is the FIABCI Prix d’Excellence for Georgia?
The fact that the Orbi Twin Towers has been acknowledged as the best investment project in the world is of course a great success not only for our company, but a very significant accomplishment for the whole country.
As for the FIABCI Prix d’Excellence – it is the most prestigious award, the same as the Oscars but in the real estate industry. FIABCI is an international real estate federation founded in Paris in 1948 by the leading developers and real estate specialists of Europe and America. In 1954, FIABCI was awarded official consultant status in the United Nations Economic and Social Council. It is the only organization in the industry which had the privilege of making a speech from the UN Tribune.
Throughout the history of the FIABCI, Prix d’Excellence awardees were such large-scale projects as the Trump Tower in NYC, the Guggenheim Museum in Bilbao, Petronas Towers in Kuala Lumpur, Disneyland – Paris, Millennium Park - Chicago, Republic Plaza - Singapore, The Palace - Taiwan, Sinar Mas Land Plaza – Indonesia, Norwest Business Park – Sydney and many more famous successful architectural and real estate projects. The award is so important that every such company is proud of this recognition and it has become one of the most significant bases for their future success. To this day no company from the post-Soviet territory was able to get the prize apart from us – the Orbi Group. Mega companies from the US, China, Singapore, Dubai, Malaysia, Japan and other European countries whose budgets exceed not only that of our company but of Georgia by 15 and 20 times, were also participating in the competition.
The jury comprised of 70 competent, international experts, who studied the presented projects from more than 40 counties for six months, decided that Orbi Twin Towers is the best investment project of 2016. There has been no such precedent in the history of FIABCI that a project has won unanimously, which was highlighted by the President of FIABCI at the award ceremony.
Orbi Group trades apartments in the Orbi Twin Towers. What makes these apartments different from traditional flats?
Our apartments, just like any ordinary flats, are private property, documented in the Public Register. There is no difference between our apartments and any apartment owned by a private owner in terms of legislation. What makes it unique is that it is built in an multifunctional hotel complex, having a complete 5-star-hotel level infrastructure and service: reception, concierge service, room service, security, technical support, casino spa center, open and closed swimming pools, cafes, restaurants, shopping zones, kids playgrounds, medical center, etc.
The owners can live in their apartments permanently, only on holidays or just rent it out. If the owner wants to rent out, Orbi Group will provide full support and the owner will receive a monthly, stable income. It should be noted that a multifunctional complex with 5 star hotel service and infrastructure is high in demand, which means the apartments can be rented very often and at high prices.
How can an interested client purchase an apartment in Orbi Twin Towers? What are the terms and benefits?
Orbi Towers has a unique architecture and location; constructed near the dancing fountains in Batumi, 50 meters from the sea with every apartment having an amazing view.
Orbi Twin Towers has prepared a special offer, as is our tradition, at the beginning of every project Orbi Group sells apartments for the best price. Until September 1, 2016, an apartment in Orbi Twin Tower costs just USD 17,500. The first contribution amounts to USD 1700, while monthly payment will be just USD 250. The owner can purchase the apartment with Italian furniture, renovation made according to European standards and built in appliances.
There are standard as well as lux and even higher class apartments in the complex. Some of which cost USD 500,000, USD 1 million and even USD 1,500.000.
As for the benefits I would like to say that while investing in the real estate two factors should be taken into consideration:
1. What kind of stable income the rent of the real estate will bring
2. How the price of the purchased real estate will increase after completion
Purchasing a standard apartment in Orbi Towers will bring an annual income of about USD 5 or 6 thousand. As for the increase of the price of the purchased apartment, by the end of the construction it will approximately double. Orbi Twin Towers construction will last 24 months.
How actively do the Georgian citizens buy apartments in real estate constructed by Orbi Group and what are the dynamics of purchases by international clients?
Orbi Group was able to create a project which would be interesting for locals as well as foreigners. That is why Orbi Group has up to 30 offices in 7 countries and by the end of 2016, another 50 representational offices will open across the world.
Apartments purchased in Orbi Group’s multifunctional hotel complex are not only real estate, but a business which guarantees secure income. The system of payments is very flexible and simple, therefore, those who live in Georgia can invest only 1700 USD initially and pay just 250 USD monthly. Because of this flexible offer we have many clients from larger cities of Georgia as well as different regions.
Apart from this there are a lot of cases of immigrants purchasing apartments for their parents or other family members in order to provide them with stable income. Moreover, the apartments are great for spending holidays.
Apartments are interesting for busy people working in their industries (e.g. lawyers, accountants, auditors, doctors, etc.) everyone who does not have time or opportunity to run a personal business independently. By purchasing apartments in hotels, they secure stable income and can at the same time continue their career. As I mentioned before, rent and operation of apartments is provided by Orbi Group and the buyer just receiving the monthly amount from the rent straight in their bank account.
The interest from other countries like Germany, Poland, Russia, Ukraine, Latvia, Lithuania, Kazakhstan, Belarus, Israel, America, Dubai, Qatar and others is also quite high.
Since the Orbi Twin Towers was named as the best investment project of 2016, awareness has increased dramatically on an international scale and we already have clients from 35 countries.
Please tell us about Orbi Group’s future plans
Orbi Group plans to start a large-scale project in Tbilisi. Apart from us being the first Georgian company to begin development projects beyond our country, we also plan to develop many other projects and directions locally and internationally.
How can interested parties contact Orbi for further information?
Toll Free Number: 0800 100115; +995 555330000, +995 555320000, +995 555350000;
website: www.orbigroup.net e-mail: batumi@orbi.ge