Development Company Axis Claims Leading Position in Georgian Market

The development company Axis, which has been operating in the Georgian market for over 18 years, is advertising itself as having kept a leading position in the country’s development market.

The firm has constructed thirty eight multi-story residential buildings so far, with fifteen more projects to be implemented during the coming year.

The company, when speaking to the press, divides its portfolio into three, distinguishing between work from before the 2008 crisis, from immediately after the crisis, and from the most recent years.

Eighteen multi-story residential buildings were built in ten different places in Tbilisi before 2008. For the post-crisis period, twenty multi-story residential buildings were built in eight different places across Georgia.

The company claims that the year 2016 was a special one for Axis, due to ongoing work on the Axis Towers project. After stalling, the project was resumed in 2015, in a cooperative deal between Axis and Georgia’s Co-investment Fund.

The complex consists of 41 floors with a height of 147 meters. It hopes to include five developmental models, including housing, office space, hotel space, and commercial and recreational functionality.

Construction is slated for completion this year, with the hotel opening, barring setbacks, in summer of 2018.

Several other projects are scheduled for Axis during the fiscal year 2017-2018, among them the Axis Palace trade center, which will be one of the largest shopping centers in Tbilisi.

The Sairme Palace project is considered to be of the utmost importance for Axis. Construction had been suspended but is set to resume this month.

by Thea Morrison