Real estate markets in Western Europe are expensive, yields are falling, and the scope for dynamic growth is gradually narrowing. This is one reason why some investors and developers are looking for new regions that currently offer similar potential to that of Central Europe twenty years ago. One such region is Georgia.
This country, situated at the crossroads of Europe and Asia, has been transforming into a modern economic hub of the Caucasus region in recent years. It benefits from growing tourism, an influx of foreign investment, and an open business environment. The Georgian economy is growing at a rate of more than 7% annually, and the country ranks among the highest-rated nations in the region in terms of ease of doing business and conditions for foreign investment. Tourism is also growing significantly. Last year, Georgia welcomed more than seven million foreign visitors, with a dynamic increase in tourists from Asia and the Middle East. New air routes, visa liberalization, and Georgia’s growing reputation as a safe and affordable destination are contributing to this growth.
This is where the Tbilisi Boulevard project is taking shape, with a planned investment of 250 million euros, backed by the Slovak investment group GINO HOLDING. It covers an area of approximately 30 hectares, with green spaces and recreational areas set to make up the majority of the site. The project includes promenades, bike paths, and a full range of public amenities.
The developer’s ambition is not to build an isolated residential complex, but a fully-fledged urban neighborhood for both local and international clients. It is banking on the long-term growth of the capital city of Tbilisi, where demand for quality housing and investment properties is on the rise.
The project also includes the Promenade Hotel, which will feature 276 investment apartments. The five-star hotel, complete with rooftop pools, is scheduled for completion in 2027 and is part of the broader vision for the new boulevard.
Gino Holding is not developing just one project in Georgia. It already operates the Gino Seaside Tbilisi Hotel, which operates under the international Wyndham Collection brand; according to the developer, more than 45% of the apartments have already been sold.
It is precisely the combination of a growing market and a transparent investment model that is making such projects increasingly attractive to Slovak investors as well. Among the benefits are, for example, the option to purchase an apartment VAT-free and a guaranteed return even during construction.
At a time when investors are seeking new growth regions, getting in early on developing areas may be one of the most promising investment strategies in the coming years. More information about the projects is available at ginoholding.sk.
