Build Yourself a Bright Future – Invest in Green Diamond
Investing in Georgia is becoming more and more attractive for foreigners. The stable political situation, sustainable and fast developing economy, diverse nature and developing tourism are the key factors that influence them to believe this an environment worth investing in.
MAQRO Construction offers the best opportunity, product and payment terms to make the multifunctional residential complex Green Diamond an ideal investment.
We spoke to MAQRO Construction’s Deputy General Director, Oguz Kaan Karaer.
Tell us about MAQRO Construction’s large scale investment, the residential complex Green Diamond
The new residential complex of MAQRO Construction company, Green Diamond, launched on May 28, 2016 consists of three stages of construction, with the first seeing 731 units ready to move into by May, 2018. 500 units have already been sold, but we still have over 200 units available.
In Green Diamond, there are four unit types:
• 2 room apartment of an average 35 – 45 m2, with a starting price of $ 30 000
• 3 room apartment with open kitchen – of an average 55 m2, starting at $ 45 000
• 3 room apartment with close kitchen – of an average 75 m2, starting at $ 60 000
• 4 room apartment – 95 m2, with a starting price of $ 80 000
For payment in full, customers can enjoy a 15% discount from the listed price.
It sounds unbelievable that in just 55 sq.m you can fit a three-room apartment, in 35 sq.m you can get two rooms, but in Green Diamond it is possible thanks to the optimal planning- and this is one of the strongest sides of the project.
Customers have the chance to see the show rooms of all four apartments in the sales office, simplifying the buying process and showing them exactly what they will get. For those customers wanting something bigger, Green Diamond is offering apartments on the top two floors of the buildings with up to 250 m2.
Tell us more about the project
The unique residential complex is being built in an ecologically clean district of Tbilisi, near to the Olympic facilities. Next to Green Diamond will be the mega project Technological University, unique in Eastern Europe. The area of the residential complex is almost 70.000 m2 with more than 23.000 m2 of enclosed green territory- it is an ideal chance for residents to try a unique, brand-new and affordable life in Tbilisi. In the complex, you will find 23 living blocks (9, 11, 21 floor buildings) and 1772 units. You will be able to satisfy all your needs, including with three swimming pools, four basketball areas, four outdoor fitness areas, four children’s playgrounds, seven pergolas, indoor sport facilities, walking and running tracks, commercial areas, social terraces, a kindergarten and a school.
As Green Budapest is the first residential complex, it became the visit card of MAQRO Construction’s quality. Green Budapest is currently handing over units, so people can be assured of the high quality, as in Green Diamond the construction and renovation materials will be exactly the same as in Green Budapest. Those interested can visit the informative and interactive sales office to see the units and construction materials for themselves.
Creating a proper product, optimal planning, affordable prices and flexible payment conditions have lead to the success of Green Diamond. People are grabbing this opportunity very actively and this makes us happy, too.
You say this is the best real estate opportunity for investors in Georgia. Tell us more
Green Diamond is becoming very popular among foreigners wanting to own an apartment in an ecologically clean district of Tbilisi, and I’m proud to say that among the future residents of Green Diamond are not only locals, but residents from several countries, including UAE, Qatar, Kuwait, Turkey, Iran, and Russia. Foreigners can take advantage of applying for residency after investing $35,000 in Georgia, so Green Diamond is an opportunity not to be missed!
How profitable is it to invest in Green Diamond?
Investing in Green Diamond is very profitable for buyers. First of all, the unit planning and concept of the complex are very attractive, with a starting price of $800 per sq. meter. If the buyer pays in full, that price is just $700. In May 2018, when the construction of the first stage is finished, the customer can get approximately 50% profit within just two years. I think you agree that this is a very high indicator.
A second example: A three-room $50,000 apartment in Green Diamond residential complex can easily be rented out for $500 a month. That means that the owner can recover the amount paid in just eight years with an early 13% return. In the real estate business, these rates are really high compared to other countries, where the yearly return is around just 5-6%.
MAQRO Group is one of the largest investors in Georgia. Why has Georgia become an attractive investment destination for the company?
Since 2013, the Company has been bringing together a variety of projects, including residential complexes with unique concepts, Green Diamond and Green Budapest, the international 4-star Hotel Mercure Tbilisi Old Town, Hotel Ibis Styles (to open in March), Furniture Factory Glorya, Furniture store chain Bellissa and restaurant Dinehall, unique for its culinary creations and boasting a marvelous interior.
As, in Georgia, there is a healthy and stable investment environment, we recognized the need for quality construction on the Georgian market. Therefore, we decided to share our own experience and to this day make huge and valuable investments. The residential complexes Green Diamond and Green Budapest are the largest-scale investments of international holding MAQRO Construction. Green Budapest, based on preliminary information published by the National Statistics Office of Georgia (NSOG), belongs to the ten largest investments of 2015 according to the amount of direct foreign investments made to the country, including Hotel Mercure Tbilisi Old Town. The key to our success at MAQRO Construction has been a responsive approach to business and quality control, and the management team’s ability to recognize changes in the marketplace and adapt to them. MAQRO Construction continues to invest in the Georgian market and has ambitious plans for the future.
What is the key to the success of MAQRO’s projects?
Flexible and unprecedented payment conditions are one of the main reasons for selling apartments so well in Green Diamond. MAQRO Construction gives an opportunity for customers to use monthly payment and helps them to simplify the purchasing process.
General payment terms are extremely tailored to customers: 10% - first payment, and 30% of the total amount is distributed over 30 months, so it means that customers are paying only 1% monthly. When the construction is completed (May, 2018), customers need only pay delivery payment- 60%.
The initial price for the fully renovated units with kitchen furniture, built-in appliances and bath headset is from $30,000. The clients can pay 3,000 USD for the first payment and $300 per month thereafter.
What are MAQRO Construction’s future plans?
In March, hotel Ibis Styles will be opened and soon we will launch the second stage of Green Diamond and use all the opportunities to develop other future projects.