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Tbilisi Business Centers Pass First Classification under International Standards

Real estate international consulting companies Colliers International Georgia and Cushman&Wakefield Georgia have carried out classification of modern business centers by joint initiative. The project has covered 71% of 34 modern business centers represented on Tbilisi market (total office space of 192 000 square meters).

Business centers were classified based on international experience and peculiarities of the domestic market, due to 32 criteria.

Characteristics include location of business center, number of parking places, engineering and management systems appraisals, quality of office interior and other services created for tenants.

As a result of classification process, it turned out that there are four A-class, eight B-class and 10 C-class business centers on Tbilisi market.

A-class business center shape 12% of supply of office paces, 32% – B-class and 27%- C-class.

Meanwhile, the market ratio of unclassified business centers accounts for 29%.