₾2 Million Invested in Construction of Residential Complex in Telavi

A brand-new residential complex called TelaValley Residence has begun building in Kakheti, Telavi, on a 20,000 square meter plot of land. The first construction for building the complex is 2 million GEL, according to the company's founder, Zurab Iakobishvili.

The founder of TelaValley Residence told BM.GE that along with the expansion of the complex, the amount of investment will also increase.

"We are implementing the residential complex project at the exit of Telavi, where vineyards are planted. Currently, the arrangement and construction works of the first building, swimming pool, tennis court, small cellar and bicycle path are underway. This process will be completed in one year, however, in the future, we plan to fully utilize the territory, which includes the addition of new buildings and private residential villas.

There are 30 apartments in the first building, the area of which is 38 and 68 sq.m., says Zurab Iakobishvili.

TelaValley Residence hasn't started sales yet, but the company's founder says there is a lot of interest in the project, and after the holidays, sales will begin.

"The interest in the project is quite high. We are mostly approached by Georgians, although feedback also came from foreigners, we were contacted by intermediary companies that cooperate with them, I am mainly talking about citizens of Lithuania, Latvia, Estonia", - notes the founder of TelaValley Residence.

TelaValley Residence apartments are priced from $33,000 to $70,000. It is noted that the residential complex will create 10 jobs after its launch.