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Irakli Burdiladze

Development Sector Faced Serious Challenges in 2015: CEO of m2 Reviews the Year of 2015

Irakli Burdiladze CEO at JSC m2 Real Estate assesses the year of 2015.

The current year was full of important events. We finished a new energy efficient residential complex M2 on Nutsubidze, ahead of schedule, and handed over finished apartments to the customers. Moreover, in October 2015, we started constructing our largest project M2 at the hippodrome.

The project calls for constructing 819-apartment energy efficient complex with modern technologies, safety systems, comfort and recreation and children zones.

A two-floor nursery school will be arranged in this complex. It should be noted the early sales started in summer and has finished successfully.

We have also attracted a new large investment. The International Finance Corporation (IFC), a member of the World Bank (WB) group, and Green for Growth foundation has allocated 23 million USD loan to m2 Residential ltd, a subsidiary of  JSC m2 Real Estate, to develop and expand the energy-efficient (the so-called Green) construction complexes and make them attainable to average-income population. Moreover, IFC will also allocate additional 7 million USD credit resource to our subsidiary for constructing three-star hotel Ramada Encore in Tbilisi.

Through this project, we will start improving hotel infrastructure in Georgia to meet the tourism sector’s growing needs in Georgia. 

In 2016 we will finish three new residential complexes: m2 on Kazbegi, m2 on Tamarashvili and Optima in Isani. Revival of our projects and the accommodation process is very important and pleasant moment for us.

Thus, in 2016 about 800 families will move to new apartments to live in comfortable environment.

Moreover, naturally, we have expansion plans and will launch new projects. We are developing several new projects and introduce them to our society in 2016.