Georgia’s simple tax policies, transparency, and ease of doing business are attracting billions in foreign direct investment, fuelling demand in high-quality real estate. Nodar Adeishvili, CEO of Lisi Development, explains the new lifestyle his company is trying to build: combining comfort, environmentalism, state of the art architecture and security; all within close proximity of Tbilisi city centre. By adopting an 80:20 ratio of green space to buildings, Lisi Development is hoping to create a green and healthy environment for its customers, and a special atmosphere and lifestyle unique in Georgia’s real estate landscape.
European CEO: Georgia’s simple tax policies, transparency, and ease of doing business are attracting billions in foreign direct investment, fuelling demand in high-quality real estate. Joining me is Nodar Adeishvili from Lisi Development.
Nodar, what is the current state of Georgia’s real estate market?
Nodar Adeishvili: Georgia’s real estate market is very stable and very promising.
One of the main factors is that Georgia itself, the country itself, is developing dramatically. Only this month it has improved its ease of doing business ranking from 23rd to 16th. This shows how Georgia is developing at this point.
At the same time there is a growing trend for foreign investors to invest in real estate assets. Starting from residential, going to the commercial, and also there is a very big trend in hospitality business, and in different types of leisure facilities.
European CEO: Lisi Development is trying to do something new; what’s the concept behind Lisi Green Town?
Nodar Adeishvili: The main concept is that we’re trying to establish a new lifestyle in Georgia. This is a combination of comfort, healthy environment, state of the art architecture, also security; and very close to the city centre. Unfortunately not in many places in Georgia are you able to find all those benefits in one place.
In the whole world there is a big issue of the environment; unfortunately Tbilisi, the capital of Georgia, is not an exception. So the green concept that we’re delivering – this is the main reason why we’re creating demand for our product.
European CEO: What is this 80:20 concept you’ve adopted; how does it work?
Nodar Adeishvili: We use only 20 percent of the land for the footprints of the buildings which we are developing, and 80 percent of the land is used for green zones, for roads, infrastructure, which creates this special feeling, a special atmosphere, for our Lisi Green Town.
European CEO: Why is green living so important to you?
Nodar Adeishvili: It’s a big problem in the whole world – the environmental problem. So we are spending half of our life in our homes, so it is very important that our children and our families live in a green and healthy environment.
Lisi was one of the first – if not the first – companies building eco-friendly and energy efficient houses. We’re the only company, as I said, to set the 80:20 concept. And the first company to start waste-sorting within our projects.
There are some movements in the Georgia market to see this same type of offerings by other companies, and I hope this influence will grow in the future.
European CEO: And in the coming one, two, five years: what’s next for Lisi Development?
Nodar Adeishvili: At this point we are developing the land around Lisi lake itself: approximately 350 hectares. So we are developing gradually.
When we say residential, there is not only residential: we are developing high schools, gardens, restaurants, different leisure facilities. So we are growing and we are planning to bring new entries and new products to the Georgian real estate market.
European CEO: Nodar, thank you.
Nodar Adeishvili: Thank you very much.