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UAE's Green Valley launches $136m Georgia project

The new project is part of Green Valley’s move to enter Georgia’s rapidly growing real estate segment

The residential units at the Green Valley City vary between 33.69 sqm and 99.62 sqm.
The residential units at the Green Valley City vary between 33.69 sqm and 99.62 sqm.

UAE's Green Valley International Real Estate Group launched the $136m (AED500m) Green Valley City project in Tbilisi, Georgia.

The move represents the company’s efforts to expand and mark its presence across the country’s rapidly growing real estate segment. 

According to the company’s senior executives, the Green Valley City project is located across Tbilisi’s Green Belt area, one of the most prominent natural forest reserves in Tabakhmela.

Spread over an 88,000 sqm expanse, it will be composed of 10 buildings containing 510 residential units ranging from studios, one- and two-bedroom apartments. It will also house a private district catering to luxury villas that are built in the form of elevated stairs to offer views to its residents.

Once completed, the project will feature key amenities like swimming pools for adults and children; football, basketball, tennis and squash courts; public gardens and children playing areas; a walkway and a fully equipped gymnasium with sauna and Turkish baths; a supermarket; luxury restaurants and cafes and retail facilities.

“Georgia is one of the most attractive destinations for real-estate development and investments in Europe--complete with remarkable nature areas, a secure living environment, socio-economic stability, advanced infrastructure, outstanding investment facilities and attractive incentives such as tax exemption and permanent residency,” said Ali Saeed Al Salami, general manager, Green Valley International Real Estate Group. 

The residential units at the Green Valley City vary between 33.69 sqm and 99.62 sqm; units are priced starting from $45,556 (AED167,300).

All villas are 205.52 sqm with an outdoor garden spread over 125 sqm; prices for villas start at $241,231 (AED885,900).

“For this project, we will be providing special offerings and facilities to Arab and GCC citizens who would like to invest in it, which further reinforces our commitment to encourage Gulf investments in foreign markets, particularly in Europe where real-estate and construction industries continue to score high growth rates,” concluded Salami.

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Construction Week - Issue 747
Aug 03, 2019