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Investment

Prices are $6000 per m2 at Redix Apartments on Chavchavadze Avenue

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Acquisition of an apartment at Redix?Apartments on Chavchavadze Avenue costs 4.2 million USD.

Founder of Redix talked about the more expensive residential complex while in the good independent Georgia with Property Georgia.

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According to Lasha Papashvili, Sales of homes are strictly limited due to quantity.?There are only 11 flats spread across 11 floors, each using an area of 700 m2. The price is $6000 per m2.

“Interior works haven’t even started yet, but we’ve got already sold 7 in the flats”, – Lasha Papashvili declares.

The $70 million project is funded from the European Bank for Reconstruction and Development (EBRD) along with the?Bank of Georgia. It provides residential and office properties, and a hotel. The 14-storey tower will likely be occupied with the?Hilton Hotel. When it comes to 18-storey tower, the highest 11 floors can have homes, although the bottom 7 floors shall be taken up by offices.

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“Even though this is usually a mixed-use project, all reception points is going to be fully independent from 1 another. Each flat will have a private cinema and a built-in wine room having a humidity and temperature control system. I?would want to emphasise we exclusively use premium-quality materials for a lot of interior works. These same properties would cost thrice more in the uk or Paris. Redix?Apartments on Chavchavadze Avenue reflect latest trends from global megalopolises here in Tbilisi”, – the businessman declares and notes, which the residential perhaps the complex will likely be placed in the 1st part of 2019, whilst the 4-star Hilton Garden Inn hotel will open by the end of 2018.

With relation to the accommodation itself, Papashvili notes, likely introducing the earth’s leading brand towards the market in Tbilisi.

“With the exception in the five-star Pullman hotel, which is to be opened over the road from us,?Hilton Garden Inn should have no competitors inside of a radius of 2 to a few kilometres”, – lasha declares.?

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