Real Estate
Posted: 1 week ago

Rating of Georgian Construction Companies

Construction sector is one of the most stable and profitable fields of Georgian economy.

The enforced law on Publicizing Financial Reports has also touched major construction companies. According to the report published by Reportal.ge, Forbes Georgia has prepared the rating of Georgia-based construction companies, jointly with Ebit Group consulting company.

The list includes companies with key focus on construction business (the list does not name development companies).

The rating of construction sector is based on several criteria: total incomes of companies, index of net profits and size of assets.

The rating includes construction companies that build residential structures, highways and tunnels.

The list mainly comprises contractor construction companies that implement projects for various customers, government or development companies and carry out various engineering works. At the same time, the list includes development companies that perform construction works themselves. They are marked with the symbol of *.

Under the report, total incomes of 20 major building companies exceeded 1.4 billion GEL in 2018.

The rating consists of publicized auditing reports and the documents comprise figures due to companies’ report on profits and losses. Key actors of development market have not published annual reports because of various reasons, including frequently, development companies act in fragmented structure – that is they establish one or several legal bodies for building each project and these legal entities are not united into Holdings and this factor complicates the real size of a company.