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Colliers International Georgia and Cushman & Wakefield Georgia Plan to Carry Out Joint Classification of Offices

Global real estate services companies Colliers International Georgia and Cushman & Wakefield Georgia plan to carry out joint classification of offices in Tbilisi, Property Georgia reports. At this stage the two companies are developing the criteria based on which modern business centres across Tbilisi will be evaluated. Within the framework of the project; the …

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Virtual Office from Regus – Simplifying the Way Business is Done

Virtual Office – a project that allows business people to reach and connect with partners around the world without the need for face to face meetings. In fact, Regus Virtual Office offers the ability to access different businesses and offices to anyone with this system already established around the world. …

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Real Estate Price has Decreased on Pekini Avenue

The price of real estate on Pekini Avenue has decreased, and the owners of shops located there complain about the reduction of realization. The lease price of commercial real estate on Pekini Avenue in 2017  decreased by 9% compared to the previous year, while the vacancy of the premisesby 7%. …

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Property Georgia: 10 Questions to Ask Before Choosing Office Space

Porperty Georgia first online property guide portal publishes ten questions everyone should ask before choosing an office space. Is it the right location for my key employees? Is the location convenient for clients and partners? In case of increasing number of employees, do you have chance to expand spaces? How …

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Developers Should not Spare Funds for Construction Safety Norms

In his interview with the Business Morning Irakli Kilauridze, director general of Colliers International Georgia, talks about positive and negative tendencies on Georgia’s real estate market. He made emphasis on construction safety norms and their improvement mechanisms. Construction works supervision is one of the key directions for Colliers, Kilauridze noted. …

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Colliers: Land Price will Rise in Central Part of Tbilisi

Land price will rise in the central part of Tbilisi, Irakli Kilauridze, director general of Colliers International Georgia, noted. Cities grow in size and they are developed in Georgia, however, this process is mainly emphasized in the capital city, Irakli Kilauridze said. “Urbanization level gradually grows and this is inevitable …

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Tbilisi Mayor: 54 Construction Projects were Suspended because of Violations

Tbilisi Mayor Kakha Kaladze noted at the Tbilisi Government meeting that statistics of construction violations in the capital city is troublesome. He referred to the statistics that records violations from November 20, 2017 through January 17, 2018. Municipal Surveillance Office has given verbal warning to more than 200 projects, legal …

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Apartments Cheapen, Commercial Real Estate Rises in Price

Activity is Declined at the Real Estate Market in May

As compared to December 2017, prices declined on apartments. At the end of 2017 the price of a square meter of Tbilisi-based apartment exceeded 1 000 USD, while the value declined to 950 USD in January 2018. Unlike apartments, prices of commercial real estates keep growing. Over the past month, …

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Real Estate on Balance of Ministry of Economy

There are 47 719 agriculture land plots on the balance of Ministry of Economy. Total space of these land plots constitutes 3 791 424 603 square meters, including the major part (16 389) is located in Kvemo Kartli, while the smallest part is registered in Racha-Lechkhumi and Kvemo Svaneti Region. …

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Challenges Faced by the Real Estate Sector in 2017

property Georgia

De-dollarization has been one of the main challenges for the Georgian real estate market in 2017. Following the devaluation of the Lari in 2016, the government of Georgia and the National Bank of Georgia (NBG) jointly designed a plan of ‘Larization’ of loans. The relevant legislation came into force on …

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