Tbilisi mixed use development is one of the premier projects that Rakeen Development PJSc is undertaking in Tbilisi, Georgia. The project will be spread over 72,836 sq m and would consist of a shopping mall, residential apartment complex and an office tower. There would also be facilities like a coffee shop/Juice Bar, gymnasium, swimming pool, high end security facilities etc.

In view of expanding its portfolio, Rakeen has recognized a number of real estate investments which hold the potential to generate superior returns. One such project is the the Tbilisi Mixed use project which is expected to earn good returns when considering the significant growth that the Georgian economy has witnessed in the past few years.

Since the Rose revolution Georgia has been applauded for its efforts to attract foreign investment into the country which has helped increase employment and standards of living in the country. With rising income levels and increasing foreign presence in the Georgian economy, the demand for high quality real estate development has been tremendous. Prices have appreciated more than 100% in the last 2 years as more Georgians look to move into premium apartments and shop in posh shopping malls to buy high end branded products.

Georgia’s tourism sector also holds a lot of potential as Georgia’s picturesque landscape with mountains, rivers, waterfalls, cave towns, resorts and mineral springs is attracting more and more visitors every year. A large number of visitors are also purchasing property in Georgia as they wish to own a second home or a summer retreat in the country primarily because of its scenic beauty.

Tbilisi, the capital of Georgia is at the center of the Georgian renaissance as most of the growth activities are generating from the city. A large number of real estate projects are being developed in Tbilisi as of now as the population of the city is expanding vigorously. Tbilisi also enjoys good connectivity with cities in Georgia and major cities around the world.

On the whole, the project looks to be very promising in terms of generating returns and will add significant value to Rakeen’s overall portfolio.