Placemakers’ project, The Lake, is entering a new stage of development. As the company’s partner and CFO, Zura Pichkhaia, told TV-program “Business Weekly,” a South African investor has joined the project, and sales have already exceeded $3 million.
According to Pichkhaia, the new partner is one of South Africa’s leading developers. The agreement has been finalized, and the investor will not only participate in The Lake but has also expressed interest in future projects.
“The South African investor will invest in The Lake. The agreement has been reached, and they are becoming our partner. With their involvement, we are fully funding The Lake House, which allows us to actively advance its development. This building is the heart of our development and the central focus of the project,” Pichkhaia said.
Regarding sales, Pichkhaia noted that results have exceeded expectations. So far, the project has generated nearly $3 million in sales, with additional interest in the pipeline.
“Sales have started very positively, already generating around $3 million. Most buyers are paying in full upfront rather than using installments, which reflects confidence in the project and its future. Land values have already increased significantly and will continue to grow as the project develops,” Pichkhaia added.
In parallel, infrastructure work is actively underway. According to the plan, by next spring, all utilities, roads, and landscaping will be completed. The company is also collaborating closely with TBC Bank for the project’s financial support.
