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Business

Issue of a New 5-star Hotel Resolved

Rustaveli Property will make a statement about  the opening of the hotel in a former  building of the Ministry of Justice located  on Rustaveli Avenue in the coming days. Prior,  the company’s CEO Mindia Gadaev told  “Commersant” that the project’s final details  had been agreed as well as the entry …

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WealthPro-UAE, RAK 2015

16-17 February 2015 Ras-Al-Khaimah Convention Center of Hilton   Bosco Conference invites professionals around the world to participate in the WealthPro conference, that will take place on February, 16-17, 2015, in Ras-Al-Khaimah, united Arab Emirates. The unique two-day conference format will allow participants to comfortably combine conference and exhibition, dedicated to …

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Archi Group assessing real estate business for 2014

Real estate business developed quite sizably in 2014, although considerable price growth was not recorded. As long as demand remained very high, supply increased adequately, which did not cause dramatic price growth. We can say that prices rose by only 5-10%. Customers became more cognizant, they already pay attention to …

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GT Group Enters Wine Business

GT Group plans to bring new brands this year. According to  GT Group Director General , the company’s turnover increased by 20% in 2014, and the same growth is planned in 2015. In the words of Levan Gogsadze, in 2014  the holding will create another subsidiary that will deal with …

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A 7-star Presidential Hotel to be Opened in Tbilisi

“Commersant” exclusively reports  that Dhabi Group plans to open a 7-star presidential hotel behind the so-called Imeli building. Dhabi Group Executive Director told us that it would be Millennium Biltmore, which is functioning only in the United States, California, and the second hotel will be opened in Tbilisi. In an …

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Colliers International Georgia reviews different sectors in 2014

Retail Market The total amount of retail space in the three main Georgian cities amounts to around 1.1 million sqm, out of which 80% is concentrated in Tbilisi. During the last two years the total volume of shopping centre supply in Georgia grew by 28% approximately and currently amounts to …

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Real estate and property developer company,M2 summed up 2014

IRAKLI BURDILADZE Chairman of supervisory board of m2. Demand for residential real estate in 2014 has increased as compared to 2013. Numerous transactions that took place in Tbilisi this year stand as a proof to this. We predict that next year this figure will exceed last year’s by 5%. It is …

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Georgia’s top ski resort Gudauri covered with two-meter deep snow

Georgia’s leading ski resort Gudauri is covered with a massive layer of snow as heavy snowfall continues for already one day. The two-meter snow layer practically isolated the whole resort, while the roads are closed to all directions, including towards Tbilisi and Russia. The travelers from Tbilisi were not able to …

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What will Happen to the Georgian Car Market in 2015?

According to Mikheil Kharati, the Head of the Car Department of Geo Auto-  Georgian representation of Nissan,  in 2015  the company’s sales will  grow by approximately 30-40%. He notes that in 2014 the company was unable to increase sales, but maintained their   stable level. Nissan updated 3 models, which enjoy …

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Developers Look to 2015 with Optimism

Developers predict that the Georgian real estate market will become more active this year. George Kapanadze,  Axis  Director-General makes the optimistic forecast in the air of radio “Commersant” just like  Archi Group Director. According to him, in 2014 this business experienced aprogress. All objects were financed and the company will …

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