Georgians have been observing the construction of EastPoint Tbilisi mall on the Kakheti Highway for the past year. Everyone is curious to see what the outcome of the long construction will be like.
The country’s yet largest mall is set to open its doors on September 12, 2015 with Nino Katamadze and Insight’s concert. Located on 85,000 square meter territory EastPoint will have 10 cinemas, the first IMAX Movie Theater in Georgia, the biggest electronics hypermarket and a 3,500 square meters children’s entertainment space under one roof.
CBW spoke with the Marketing Director of EastPoint Tea Lominadze regarding the advantages of the new mall, its main investor company Quadrum Global, and the mall’s future plans.
There have been rumors in the Georgian media in regards to an H&M store opening at EastPoint mall. Were these rumors baseless or there actually were negotiations with the Swedish retail network?
Unfortunately, at this point H&M has no plans of entering the South Caucasus region. In this regard, they could not have been part of our project either. These were just baseless rumors, I have to say.
How large is the investment put into EastPoint’s construction? And who is the investor?
The investment amounts to over USD 100 million. An international private equity investment company Quadrum Global is the main investor. Quadrum Global manages USD 1,3 billion capital in equities, which are distributed in different real estates and investment funds. The company’s head office is located in London. Quadrum Global also has offices in Hong Kong, Shanghai, Beijing, Moscow, Kiev, and Tbilisi.
In Georgia, Quadrum Global operates under the name of CBD Development Ltd and BD Property Ltd. Two major projects in Georgia are under the management of these companies — the entertainment and shopping mall on Kakheti Highway EastPoint Tbilisi and the multi-function residence complex Tbilisi Gardens, located on Asatiani Street.
With these two projects, Quadrum Global is making a 200 million USD investment in Georgia.
From the perspective of a Marketing Director, how do you think EastPoint will take on the challenge of competing with the existing Tbilisi Mall?
Healthy competition on the market is always a positive factor that pushes the market players to develop their projects further. EastPoint will offer a unique architecture, a diverse brand mix, a good location – just 12 minutes from the city center in a spot where there is practically no traffic jams.
EastPoint will also operate the very first IMAX technology Movie Theater in Georgia and 10 cinema halls; 12-lane professional bowling center with an accompanying café and a restaurant; the biggest ZARA, MANGO, Massimo Dutti and Stradivarius stores in the South Caucasus; a construction hypermarket Domino – this is the incomplete list of all the comforts and advantages we will offer our customers starting September 12.
By the end of the year, we will also operate an electronics market, where the largest operators in Georgia will be present in one common space. EastPoint will operate the Georgian consumers’ beloved Carrefour, as well as a 3,500 square meters children’s entertainment center that will have no analogs in South Caucasus.
You can attend the opening of EastPoint Mall and enjoy Nino Katamadze’s concert for free on September 12!