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A- Class Business Center Hillside Residence Opened in Old Tbilisi

A- Class Business Center Hillside Residence Opened in Old Tbilisi

Specialists have been speaking for a long time about the deficit of A class office spaces. The last figure shows that A-class office spaces account only 7% of the total market in the capital.

A-class business center Hillside Residence has been opened in Sololaki old district of Tbilisi.

The head of the real estate company RENTALS who signed the exclusive agreement with the company on providing  services claims that the volume of  rented space is 4 thousand square meters. Underground car park, a cafeteria are located in the building which has a 24-hour security and a concierge staff. In the words of Zurab Eristavi,  the business center has the grand living room and a 6-meter Swarovski chandelier, the interior responds to all the requirements of A class business center. According to the company, prices range within  $ 17-20 per square meter.

Specialists have been speaking for a long time about the lack  of A class office spaces. The last figure shows that  A-class office spaces account only 7% of the total market in the capital while the share of  A, B, B-class office spaces is 7%, 23% and 1% respectively.

A large share of rented accommodations (42%) is spaces of C and D class. The research  showed that the amount of modern office space in Tbilisi is 4.6 times less than in Central and Eastern European countries. This figure totals  1 436 m per  1 000 people  while in Tbilisi  293 sq meters. The average cost of renting office space of the highest class reaches $ 21 which is equal to the average figure of Central and Eastern European countries.