Georgian real estate developer Biograpi Living’s investment portfolio, currently comprising 10 ongoing projects in Tbilisi, has exceeded USD 1 billion and is expected to reach nearly USD 2 billion in the near future, the company’s CEO, Vasil Pkhakadze, said in an interview with Business Morning.
Pkhakadze said the company’s priority was not the volume of construction but the quality of its developments and the value they bring to the capital. He noted that Biograpi Living is currently working on 10 projects at different stages of construction, while several additional developments are in the design phase. The company aims to become one of Georgia’s leading premium real estate developers.
According to Pkhakadze, sales performance has been strong, with more than 75–80% of apartments in the company's ongoing projects already sold. International buyers account for 30–40% or more of sales in many of its developments, compared to the estimated 10–15% average for typical Tbilisi developers.
The CEO highlighted the company’s Hisni project, where 95% of apartments have already been sold despite two years remaining until construction is completed. Prices have increased by an average of 40%, while the first two blocks are fully sold out. The company has now launched pre-sales for the third tower.
