Cushman & Wakefield Georgia, a real estate consulting company, has published an office market report on recent trends and outlook estimations.
Economic activity still remains fragile, but stabilization signs have appeared. According to the report, Parliamentary elections have brought uncertain environment and affected market creditworthiness and expectations.
Number of employees has increased by 6.6% in the third quarter of 2016, mainly in commerce sector, real estate, restaurants business and health sector. Moreover, GEL exchange rate depreciation affected real estate prices too.
As for the business centers, the report names GMT Plaza as the most expensive business center, where, according to December indicators, price of a square meter was 45 USD. The so-called Green Building rents a square meter for 30 USD, Pixel – 27 USD and BCV Redix – 23 USD, Mantashev business center – 25 USD, Besiki business center – 20 USD. At Grato the rental of a square meter space is 20 USD.
At Chavchavadze business center a square meter is rented for 16 USD. Tiflis Business Tower – 15 USD, Aghmashenebeli Business Center – 20 USD, Tarkhnishvili Business Center – 18 USD, Meidan Palace – 25 USD.
Grand Opening of A – Class business center in Tbilisi on Freedom Square is planned for the second quarter of 2017, Alliance Center, will be the leading A – class provider of workspace, with prime location, high-quality, fully serviced spaces for tenants including some of the most successful, recognizable, business leader companies and corporations.
“We are pleased to welcome all local and international companies to Alliance Center, based on our experience and global outreach. We are delighted to bring our international and local expertise and market knowledge to the most prestigious project: We are glad to offer the tenants the most desirable location in Tbilisi”, Said Anano Beridze, the Sales & Leasing Manager of Alliance Centre at Cushman & Wakefield Georgia. She has shared the information regarding the upcoming Alliance Center and gave comprehensive analysis regarding office sector in Georgia.