TOP 5 Development Companies In Tbilisi
Last year, record number of residential transactions (28 000) were registered. In 2017, up to 200 construction projects were completed. As of the end of the year, 525 development projects are in progress in Tbilisi, which involves total of 33 000 apartments. In newly constructed buildings, weighted average price for square meter is 663 USD, while in old buildings it is 612 USD. Prices for newly built apartments decreased by 7% and in old projects – by 1%.
Within the limits of residential market research, Colliers International Georgia publishes the list of largest development companies in Tbilisi. Companies were revealed by total area of completed and current constructions.
The largest developer, according to the research, is Dirsi, although the company is implementing only one project, it turned out to be the largest in Tbilisi. Archi Group company is implementing 14 projects in the capital, however, it is number three on the list.
According to total area of residential complexes in 2015-2017, following top 5 companies were revealed:
- Dirsi – 201,137 m2 of completed construction;
- M2 – 187,477 m2 of which 77,660 m2 are completed constructions and on 109,817 m2 construction is in progress;
- Hualing – 185,660 m2 of which 103,221 m2 are completed constructions and on 82,439 m2 construction is in progress;
- Archi - 151,725 m2 of which 47,312 m2 are completed constructions and on 104,413 m2 construction is in progress;
- Maqro Construction - 84,634 m2 of which 32,963 m2 are completed constructions and on 51,671 m2 construction is in progress.