Brands That Left Main Shopping Streets of Tbilisi

"The weighted average lease of contracts registered during the pandemic is 36% lower than in 2019."

This is stated in the Commercial Market Summary 2020 published by Colliers International Georgia.

"The average weighted lease of contracts registered during the pandemic is 36% lower than in 2019. That figure dropped dramatically by 50% on Aghmashenebeli Avenue, from $ 25.8 to $ 12.8 per square meter. A significant 40% decrease was observed on Rustaveli Avenue and the weighted average rent was $ 19.6 per sq.m. The average rent decreased by 38% on Pekini street, while the figure fell by only 3% on Chavchavadze Avenue, ”the study reads.

According to the authors of the study, 169 tenants left the main shopping streets of Tbilisi in 2020 and the total area of ​​vacated facilities was 11,385 sq.m. According to a study by Colliers International Georgia, 57% of the vacancy was located on Chavchavadze and Agmashenebeli Avenues.

Dunkin 'Donuts, OVS kids, Parfois, Flo, Finca Bank are among the tenants who left the main shopping streets of Tbilisi last year.