First Real Estate Exhibition & Sale in Georgia
On March 30- April 1, the real estate exhibition-sale “Area-expo 2018” will be hosted in Tbilisi for the first time. This event will bring together the construction sector to exhibit real estate and planned projects to customers and interested persons. No such exhibition-sale has been conducted in Georgia before, although it is very popular abroad.
Area-expo 2018 will host developer and construction companies active in Georgia, about 15 exhibitors covering issues regarding construction and relevant know-how, thousands of visitors and potential real estate purchasers. This is a place where real estate owners, interested purchasers, business units and persons responsible for the development of sectors gather.
The event is officially supported by the ministries of Economy and of Sustainable Development in Georgial, which will present an exhibition and sale of the National Agency of State Property as "50 Assets for Your Hotel".
The event is fully organized by Area Group, a Real estate service company aiming to establish international standards in the sector. Organizers say, “Area-expo” will become one of the most important events for developing the annual market in the future. Nino Jinjolava, the managing partner of the company, claims it will go beyond the boundaries of Georgia and will become even more diverse for both the participants and the audience.
“Major changes are occuring in the real estate marketand, nowadays, around 8.3% of GDP is occupied by this sector,” Jinjolava said. “It is one of the main branches of the economy in general. Although chaotic constructions are now common, the lack of clear and well-formed policies and a unified general development plan for this sector from the government, and customers’ and citizens’ lack of knowledge of this field has changed the true image of the city.”
The market has become actively competitive and consumer demand for quality and additional services has also increased significantly. In these conditions the government is more inclined to make changes in this field and meet the international and European requirements: all the actors in the must contribute to the development of real estate. Therefore, every initiation, which serves to maintain healthy competition in the industry, bring diversity to the market and which is directed to self-development, is seen as a key factor in the advancement of the estate sector.
Such events are especially relevant when the estate industry is expanding in every direction: starting with the number of granted planning approvals anda high supply and demand index. In this situation, having access to consistent information sources is extremely important for the retail consumer.
“Area-expo 2018 is an ideal information platform where both developers and consumers can obtain information about the innovations currently occuring in the estate industry. Every ongoing construction project will be presented in the exhibition space, where consumers have an opportunity to compare and chose apartments, office and commercial spaces, according to the price, location, favorable payment terms,etc. Within the scope of the exhibition, the banks will be presented at the place to purchase real estate properties selected by the user within the event.
The exhibition will take place in “Expo-Gerogia” IV, V and VI pavilions. Minister of the Economy and Sustainable Development, Dimitry Kumsishvili, will open the event.