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New Company to Carry out Energy efficient Construction Projects in Georgia

Caucasus Real Estate Fund will appear on Georgian market soon to make investments in energy efficient real estates. The Fund will be founded by BlueOrchard investment company, which purchased Ternes Real Estate Fund in July 2017.

The company press-release reads that the new fund will make investments in Georgia and other countries of the region.

“Currently, there is a small number of energy efficient buildings in Georgia. Therefore, projects financed by Caucasus Real Estate Fund will considerably decrease CO2 emissions.

Moreover, deficiency of high-quality buildings and profitability of real estate sector will bring considerable financial benefits to Caucasus Real Estate Fund investors. As a result of renovation of the existing buildings and construction of new houses, BlueOrchard will promote an establishment of energy efficient construction tendencies in Georgia.

In July 2017 BluOrchard purchased Ternes Real Estate Fund, which is a pioneer in collective investments made in high-income real estate sector of Georgia. Experience of the mentioned company will enable BlueOrchard to enlarge and develop activities in real estate sector.

Ternes Real Estate Fund was established by  Sascha Ternes, who is vice president of BlueOrchard in real estate issues.  Sascha Ternes has got a 20-year experience of managing financial markets in developing economies. Since 2007 he lives in Georgia, where initially he was a financial director or ProCredit Bank and later became the bank’s director general.

 Sascha Ternes has also worked as deputy director general of Bank of Georgia. Representative office of BlueOrchard in Georgia opened in 2013. Currently, 14 persons work at the office”, the company press release reads.

The press-release also notifies that on August 12-15 BlueOrchard organized a working visit for Swiss investors and real estate sector representatives. Purpose of the visit was to explore the current situation in Georgian real estate sector and to meet with the sector representatives. 

“Taking into account strong macroeconomic indicators, favorable demographic and urbanization conditions, it is clear that demand for affordable and energy efficient real estate grows in Georgia. Therefore, the visit by high-level Swiss investors and real estate representatives was aimed at examining the implemented various projects and meeting with domestic colleagues for deepening cooperation with Swiss Party and promoting investments in Georgia’s real estate sector”, the company representatives pointed out.