Georgia Catches The Eye Of Property Investors

It has been two decades since Georgia gained independence from the former Soviet Union during which time increasing numbers of tourists have been making inquisitive forays into the beautiful landscape of the country known as the Balcony of Europe.

Georgia is located in Eurasia, providing a link between Europe and Asia and a melting pot of cultural influences taken from its neighbours: Russia in the north, Turkey in the west, Armenia and Iran in the south and Azerbaijan in the East.

Georgia's capital is Tbilisi, a destination that is becoming increasingly popular with tourists and property investors alike. Green Valley International Real Estate Group, one of UAE's leading conglomerates specialised in real estate development, investment and holdings, has announced the launch of its €130m project in the up and coming capital of Georgia.

The Green Valley City project is spread over an 88,000m² expanse where 35 % is covered in lush greenery, said the company in a statement. The launch comes as part of the company's efforts to expand and mark its presence across the country's rapidly growing real estate segment.

The Green Valley City project is strategically located across Tbilisi's Green Belt area, one of Georgia's most prominent natural forest reserves. It will integrate modern architecture that is in compliance with the highest standards of environmental sustainability.

The project will be feature 10 buildings which will house 510 residential units ranging from studios, one- and two-bedroom apartments. It will also provide a private district, catering to luxury villas that are built in the form of elevated stairs to offer panoramic views to its residents, said the UAE developer.

Unveiling the project, Ali Saeed Al Salami, the general manager, Green Valley International Real Estate Group, said: "Georgia is one of the most attractive destinations for real-estate development and investments in Europe - complete with remarkable nature areas, a secure living environment, socio-economic stability, advanced infrastructure, outstanding investment facilities and attractive incentives such as tax exemption and permanent residency".

"Another key driver is its strategic location, which is a relatively short distance from the Arab World. This has prompted us to develop Green Valley City - aimed towards addressing the growing demand of Arab and Khaliji investors for Arab projects underway in Europe," he added.

"As with all of our projects, we are committed to developing Green Valley City in compliance with set international standards and guidelines. For this project, we will be providing special offerings and facilities to Arab and GCC citizens who would like to invest in it, which further reinforces our commitment to encourage Gulf investments in foreign markets, particularly in Europe where real-estate and construction industries continue to score high growth rates".