Business
Posted: 1 month ago

Real Estate Developer Company - Redco to Build a New Residential Complex Bamboo Beach Resort in Tsikhisdziri

Bamboo Beach Resort is the new project of the developer company "Redco", the building of which will officially start at the end of May. The company starts building new recreation and residential facilities in Tsikhisdziri, 20 kilometers from Batumi, on the first line of the Black Sea, near Petra Fortress. The project of the family type resort was developed by Green Design Society.

The hotel and apartment complex includes 521 premium class apartments, 119 hotel rooms, a  private harbor, private beach, outdoor and indoor swimming pools, aqua park, zipline, spa, and gym.

 

"We think, that despise the reduced demand in the market and current challenges, development of real estate should be continued. We can not stop, such a term does not exist in the economy since it means going backward. Therefore, we decided not to stop the projects and start new ones. From May 22nd, in Tsikhisdziri, we will officially start building processes of a new project by the sea. It will be a mixed-type complex that includes both a hotel and apartments. Negotiations are being held and discussed, that this should be the brand hotel associated with Marriott. The project has been agreed and we already have a construction permit.", defined Malkhaz Kunelauri with Commersant.

The working processes will be completed in 2 years. The investment price of this project is 70 Million GEL in total.

Redco was established in 2012 and since then seeks to understand industry dynamics in order to develop unique living and recreation concepts.

The company’s approach includes managing the entire process of designing, financing, constructing, operating, and owning a growing network of apart-hotels, residential blocks, international brand hotels, and complementary infrastructure of these projects. The main benefit of the projects for individual investors is the opportunity to profit from purchasing hotel rooms and suites.

Redco’s services offer building, renovating, selling, and managing projects.