In recent years, several new players have entered Tbilisi’s development market, but only a few have positioned themselves around a broader urban vision rather than individual residential projects. DMG Group is among those companies, bringing experience and capital accumulated through international business into large-scale investment projects in Georgia.
The group’s newest direction, Immobiliare, is a relatively new name in the development sector, although its foundation is linked to years of experience in international trade, energy, agriculture and infrastructure. Today, the company is focused on restoring historic buildings and creating new urban spaces.
In an exclusive interview with BMG, DMG Group founder Kakhi Zhordania says the company’s approach has always been based on long-term thinking and creating projects that add lasting value.
From international business to development
Kakhi Zhordania’s professional background is closely connected with international markets. After returning to Georgia, DMG Group’s first major investment was in the energy sector through the acquisition of a stake in Rustavi-based company RustavOil.
“We arrived in Georgia in 2022. During my student years and early career, I worked abroad. Our business was related to international oil product trading and production, so we identified a suitable asset in Georgia and acquired a share of RustavOil,” Zhordania says.
According to him, the company’s goal was not only to maintain an existing business but also to expand production capacity through investment in infrastructure.
“We used our capital and experience to develop the infrastructure. As a result, production increased around 20 times, and today RustavOil supplies more than 50% of Georgia’s bitumen market. Previously, this product was fully imported, while today a significant share is produced locally.”
Zhordania says this example reflects DMG Group’s broader business model - becoming not only an investor, but also creating infrastructure and value within the local economy.
The source of the group’s capital, according to him, comes entirely from international business activities developed over many years.
“DMG Group’s capital comes 100% from business and the international activities we have been conducting for years,” he says.
Today, the group operates across several sectors, including agriculture, energy, automotive imports, infrastructure and development. However, Zhordania says the development direction carries particular responsibility.
“Development may not be the largest part of our portfolio today, but personally, I consider it the most responsible field. These projects carry history, and that is why we pay special attention to every detail.”
Why Immobiliare was created
Although Immobiliare is a new company, Zhordania says its team combines international experience with local expertise.
“The company itself is new, but it is built with professionals who have worked both in Georgia and international markets. We have a strong combination of young and experienced specialists, which allows us to work effectively with international partners.”
Unlike many development companies that emphasize construction quality and materials, Zhordania highlights a different advantage - vision.
“I do not want to start with general statements about being the highest quality or the best. I believe Immobiliare’s main distinction is its vision.”
According to him, the company aims to combine international expertise with Georgia’s urban identity.
“We want to create projects together with international partners that meet international standards while remaining fully integrated into the Georgian environment.”
For Immobiliare, he says, the goal is not simply to build additional square meters, but to create projects that become part of the city’s development story.
Architecture as a core element of strategy
Zhordania says architecture is at the center of Immobiliare’s approach.
“The essence of the entire project starts with architecture.”
This philosophy led the company to partner with Ricardo Bofill Taller de Arquitectura. According to Zhordania, the main criterion was not only the studio’s international reputation, but its ability to understand the character of a city.
“The most important thing for us was choosing an architect who respects Tbilisi’s identity, Georgian culture and history.”
Before starting work on the project, Ricardo Bofill’s team spent around two months studying Tbilisi’s architecture, including Soviet heritage and contemporary urban development.
According to Zhordania, this approach transformed architecture from a design element into a core part of the company’s business strategy.
Kostava 49 is not Immobiliare’s only project. The company is also developing a broader concept for the surrounding historic area, including the rehabilitation of former silk and tobacco factories and Laguna Vere.
The total investment volume of planned projects is expected to exceed GEL 1 billion.
However, Zhordania says this is only the beginning.
“At this stage, we are fully focused on two projects, although we continue to explore new opportunities every day and want to implement additional projects.”
The company’s plans are not limited to Tbilisi. While the first stage focuses on the capital, Zhordania says that within a five-year perspective Immobiliare is also considering opportunities in other regions of Georgia.
A business built around the city’s history
DMG Group’s development strategy shows that diversification for the company is not simply about entering new sectors. Each new direction is based on accumulated experience and a long-term vision.
While RustaVoil focused on creating industrial infrastructure, Immobiliare’s mission is to integrate historic spaces into modern urban life.
In this approach, architecture becomes more than aesthetics - it becomes a common language connecting business, investment and city development.
DMG Group therefore presents Immobiliare not only as a development company, but as a participant in urban transformation, aiming to create spaces that remain part of Tbilisi’s identity for decades to come.
