Sector Analysis

The recent boom in demand for residential and commercial space has made the construction sector one of the fastest growing sectors of the economy. The rapidly developing availability of mortgage financing is beginning to power the purchasing ability of customers and creating a much larger market than existed before. However, associated real estate services are not growing correspondingly. The most prominent feature of the real estate broker market is a very large number of small agencies, most of which provide identical listings.

In the last year, foreign investors have purchased two large local hotels, the Adjara and the Iveria, with plans already underway for their total refurbishment. In addition, a defunct Soviet era amusement park overlooking the capital has been purchased and when reopened will boast the largest roller coaster in the CIS. Another recent example of foreign investment in real estate is the 49-year lease awarded by the Ministry of Economic Development to Umbrella Consulting, an affiliate of Silk Road Group, to renovate, restore, and manage the famed Tsinandali estate, including its botanical garden, wine cellar, and guesthouses that serve as hotel, conference center, and presidential retreat. To view the Ministry of Economic Development’s press release click here.

AmCham Members

 Association for Protection of Landowners' Rights
Tel: +995 (32) 931 276
Website: http://www.aplr.org
The APLR was founded at the first stage of land reform in Georgia. Many significant results of Georgian economic reforms have been achieved with active support and involvement of the Association, including privatization of enterprise land, privatization and registration of agricultural land, conduction and monitoring of cadastral works, facilitating transactions on real estate and simplifying procedures of transactions. The Association works to streamline legal and regulatory framework of real estate ownership and management, to register land ownership rights, to increase public awareness and promote active dialogue over land issues in Georgia and throughout the Caucasus region.

Eljan Holdings
Tel: +995 (32) 751 039
Website: http://www.eljanholdings.com
Eljan is a private equity investor/developer of real estate in Georgia/Eastern Europe. It has a number of projects in Georgia with its local partner.

 GMT Group
Tel: +995 (32) 988 988
Website: http://www.gmt.ge
GMT Group manages a number of investment projects in hotel business, construction and other areas.

 Greco Group
Tel: +995 (32) 393 138
Founded by California based Southern Counties Oil Co in 1993, Greco is a pioneer American investor in Georgia and one of the founding members of AMCHAM Georgia. GRECO GROUP through its division companies has diversified investment portfolio in the sectors of Petroleum product distribution, Commercial real estate, and the Transportation. GRECO OIL is an official distributor of ConocoPhillips Lubricants, GRECO TRANS is a distributor of Petroleum products and also involved in Transportation sector through Georgian Truck Center- GTC, and GRECO CENTER is the owner and operator of commercial real estate projects in Georgia.

 Salford Georgia
Website: http://www.salfordcapital.com
Salford Capital Partners' Georgian Office (Salford Georgia) engages in private equity investments and asset management activities in Georgia. The Office identifies, analyzes and executes attractive investment projects in Georgia for Salford Capital Partners' clients in Georgia. Georgia office's focus lie in following business sectors: telecommunications, real estate, media and financial services.