Up to 80% of units in the building set for completion this year within the “Tbilisi Boulevard” project have already been sold, according to Gino Holding’s managing partner, Nodar Giorgadze. Sales in newly launched buildings have also reached around 38%.
The $250 million project, located near the Tbilisi Sea and spanning 30 hectares, will combine residential, commercial, hotel, and recreational infrastructure. Completion of the first phase is planned for 2026, with the second phase scheduled for 2027.
Giorgadze noted growing interest from foreign buyers, who are purchasing not only investment properties but also residential units. Buyers include Europeans, as well as investors from Israel and Arab countries.
According to him, foreigners account for about 15% of total sales, including 5–6% Georgian emigrants, while local buyers make up 85%.
