Lisi Development is the first developer company in Georgia, which is setting new standards for responsible and exemplary urban planning and real estate development in Georgia through its projects, including Lisi Green Town, Kokhta-Mitarbi Resort, and Buknari Resort.
The company has brand recognition in Georgia as a developer of residential space, with a strong niche focus on upscale residential real estate units and plots in the so-called Lisi Green Town community in Tbilisi. Lisi Development’s high performance has benefited from the growing demand for high-quality, modern living space outside of the city centre. As the company notes, its total revenue from sales made up USD 170 million. Lisi Development boasts with a USD 70 million of investment. 13 years of market dominance, the company sold 78,000 square meters of residential units and 412,000 square meters of land for villas.
Company’s good local market position is also due to attractive land bank, the land bank in Tbilisi equals to 340 ha, while in Buknari (on the Black Sea shore) – 9 ha. The value of the investment property amounts to USD 228 million.
According to Lisi Development, the company already sold more than 150k sqm built property with USD 170 m in total sales over the years. 12 years track with 97% of all completed projects sold.
According to the company’s financial report, its equity has made up USD 234.2 million as of 31 December, 2023, instead of USD 228.6 million - in 2022. Moreover, Lisi Development’s EBITDA in 2023 totals to USD 14.4 million (USD 14 million – in 2022).
Lisi placed USD 22 m bond on local capital market. Each time, Lisi was able to achieve one of the lowest interest rates and was significantly oversubscribed sience 2018.
The company also has strong relationships with local commercial banks sucha as Bank of Geoergia, TBC Bank, Basis Bank, whose loans are used for Real Estate development.
Despite its robust performance in upscale residential real estate in Tbilisi, the company’s market share is strengthened by the addition of project in Buknari.
Investment project Buknari Resort gives opportunity to invest in Georgia's prime real estate.
"Buknari" is only a 7-minute drive from Batumi, located directly along the Black Sea coast, it has a unique location with harmonious mixture of sea and mountain air.
The investment cost of the first phase of the project amounts USD 20 million and the completion is planned late in 2025. Project is financed by the leading financial institution in Georgia- Bank of Georiga, that listed on London Stock Exchange.
Hotel-style investment apartments come with turn-key conditions, including full renovation, furniture, kitchen and accessories.
The project provides rooms from 35 sq/m to 70 sq/m. Each apartment has a sea or mountain view.
The general plan and architecture of the resort area have been developed in cooperation with "Lisi Development" and British architectural studios.
Lisi Buknai offers the following to the future residents:
•Exclusive Ownership: 60 days’; personal use of your apartment, with 2 weeks during peak season.
•Beachfront Access: Direct access to best beach on the Black Sea.
•Premium Amenities: Indoor pool, stadium, restaurants, private beach, a parking.
•Prime Seaside Destination : Just 7 minutes from vibrant Batumi, with a unique subtropical climate.
•Profit-Driven Investment : 11% ROI, 70-30 profit split in your favor.
•Flexible Payments: 20% down payment, interest-free installments for 24 month.
Some of Lisi’s notable projects
Lisi Green Town
Lisi Development has been a leader in the Georgian real estate market for 13 years, known for its eco-friendly and innovative approaches.
Lisi Green Town stands as the flagship project of Lisi Development, located near Tbilisi's largest recreational area, Lisi Lake. The town comprises three residential districts and a villas district covering an area of up to 69 hectares. Residents enjoy a clean environment, security, and infrastructure tailored to their needs.
The project's architecture is developed by leading Georgian and international architects, focusing on quality construction with environmentally friendly materials, resulting in an average of 30% savings on communal payments. Lisi Green Town and its surroundings offer recreational spaces, a kindergarten, football field, sulfur bath, running paths, bike lanes, and prestigious schools and academies.
Lisi Green Tower, a new landmark has been completed in 2023.
An architectural firm, UN Studio has a distinguished portfolio of successful ventures, including notable proj ects like the Mercedes Benz Museum in Germany, Shenzhen Mix C+ in China, Rafe City in China, Ardmore Residence in Germany, Samsung Galaxy Studio in Brazil, Beethoven Concert Hall in Germany, Prince Claus Bridge in the Netherlands, and many more. The architectural concept of "Lisi Green Tower" seamlessly blends traditional and modern elements, incorporating Georgian balcony components into the design. The building's terraces serve as inviting spaces for neighbors to gather, interact, and foster a sense of community. This unique feature sets the tower apart and promotes a con- nection among its residents.
Each apartment boasts its own terrace, pro- viding panoramic views of the picturesque Riv. Mtkvari valley and the city of Tbilisi. The design of the tower predominantly utilizes glass, lending it an air of lightness and openness. Natural materials are employed in construction, harmoniously blending with automated systems that enhance the functionality of the terraces. Every element of the tower is meticulously craft- ed to cater to the residents' comfort and well-being, ensuring a truly enjoyable living experience.
Lisi Garden House
Nikoloz Japaridze's LISI Garden House is poised to elevate Georgia's architectural prominence by blending the of urban living with the comfort of owning a home. Renowned architect known for his innovative and sustainable - cant contributions to the architec- tural landscape in Georgia and internationally. Japaridze's work combines contemporary design with cultural and emphasizes sustainability.
The concept behind Lisi garden house draws inspiration from the "House of Homes" and "Columbari- um Habitable," manifesting in the form of vertically positioned residential houses featuring private terrace- gardens. The building itself boasts a unique hybrid structure, combining reinforced concrete and steel elements. The visually distinct character of the building is further enhanced by the caisson concrete slab, achieved through the innovative weaving mold used for reinforcement.
Ricardo Boffil’s House
Lisi Green Town is set to become home to a remarkable architectural masterpiece designed by the famous Spanish postmodernist architect, Ricardo Widely celebrated as one of the most the global architectural landscape with his visionary creations.
The upcoming building, currently under construction, represents the latest addition to impressive portfolio. Known for his bold and innovative designs, architectural style seamlessly blends artistry, functionality, and sustainability. His distinctive approach combines geometric forms, intricate detailing, and a harmonious
integration with the surrounding environment. Upcoming landmark in Lisi Green Town holds great significance for the county and city of Tbilisi.
Kokha-MitarbiResort
Kokhta-Mitarbi Resort, developed by Lisi Development since 2016, is a premier all-season destination in Borjomi Municipalities. It offers a range of holiday experiences, featuring the renowned ROOMS hotel and four-story residential buildings. Preserving the natural beauty of "Kokhta Gora", ensuring the resort's appeal throughout the year.
Embracing the "Ski In Ski Out" concept, the resort seamlessly integrates hotels and apartments with new cable cars and ski tracks, enhancing convenience for residents and guests alike.
Lisi Lake
Lisi Lake is one of the largest recreational areas in Tbilisi. Lake Lisi is part of the master plan of the development, which is also an integrated recreation area for the residents of the Lisi Green Town and not only. The company plans to connect Lisi Lake and the Lisi Green Town area with pedestrian and bicycle paths, which will be highly adapted to the needs of Lisi Green Town’s residents.
Lisi Development embarked on the transformation of Lisi Lake in 2012. Over time, LISI established a 3-kilometer running and cycling track, picnic areas, children's playgrounds, bike rentals, a Lyceum's bath, and food facilities around the lake.
