Batumi has a shortage of commercial spaces. As the director of the shopping center "Metro City" told TV-program "Real Estate Prospect", in recent years the interest from both international and local brands has increased, and the existing supply cannot respond to it.
According to Nino Iremadze, the rental price for per square meter in "Metro City" ranges from USD 30 to USD 35. In the last 5 years, the price has increased by about USD 20.
"The demand on commercial spaces is up. The only exception was the pandemic. Our mall was opened in 2017, the total area was 16 thousand square meters. Since then, based on demand, we have increased it 2 times, now it is 33 thousand square meters and it is fully loaded. The average rental price at Metro City amounts to USD 35, for comparison it stood at USD 15 during the opening period.
I think the developers will think about adding shops because the demand is high. There is interest from international brands as well as locals," Iremadze said.
