Archi, Georgia’s leading real estate developer, has unveiled the next phase of its prime development in Tbilisi - Archi Grand Avenue, being set up at an investment of GEL 2 billion ($770 million).

The project comes as Georgia strengthens its appeal to international buyers, supported by its strategic location between Europe and Asia, free-trade agreements with markets including the UAE, said Archi in a statement. 

More than one in four Archi buyers is already international, reflecting growing overseas interest in the country’s property market, it stated.

For GCC buyers familiar with internationally branded residences and mixed-use destinations, Archi Grand Avenue brings together hospitality, lifestyle infrastructure and residential ownership within one master-planned district. The project also offers access to a city that is increasingly attracting international residents and investors, it added.

Archi said the new phase introduces a five-star Hilton hotel, Wyndham Residences and an international team of architects, designers and commercial development specialists.

The milestone was announced at a presentation held at the development recently, attended by the Prime Minister of Georgia, members of the Georgian Government, international partners, media and Archi residents. A symbolic signing ceremony and the placement of a time capsule marked the start of the next stage.

Spanning 21 hectares, Archi Grand Avenue is planned as an integrated urban district combining residential, hospitality, commercial and public spaces. Fifteen hectares will be dedicated to recreation, with parks and landscaped areas, cycling paths, a skatepark, an urban amphitheatre and dedicated spaces for children, said the developer.

The master plan also includes restaurants, entertainment venues, a school and kindergarten, as well as a padel centre, football and basketball courts, a 3,200-square-metre gym and a spa. A planned underground tunnel will provide a direct connection to Tsereteli Avenue.

"Archi Grand Avenue is the new heart of the city - a place where Tbilisi’s historical heritage meets the possibilities of modern living. Together with our international partners, our goal is to develop residential, hospitality, commercial, and public spaces as part of one integrated environment," said Ilia Tsulaia, the Founder and Chairman of Archi.

"We aim to create a district that brings new opportunities to the city and becomes an exceptional place for people to live, work, and relax," he stated.

A central element of the development is the adaptive reuse of Tbilisi’s former railway carriage factory. Its industrial heritage will be preserved while the site is transformed into a destination for dining, coworking, retail, technology and entertainment.

London-based architecture studio Benoy is leading the factory’s transformation, supported by Alkaş & Han Spaces. Chapman Taylor’s Madrid studio is developing the Grand Avenue masterplan and the architecture of the Hilton hotel. Australian studio Oculus is contributing to the master plan and landscape design under landscape designer Bob Earl, while Wei Yap Architecture is developing the wider architectural concept.

“Through this partnership, Wyndham will bring its global experience, world-class hospitality standards and expertise to create an exceptional living experience,” said David Gesto, Director of Franchise Operations, Wyndham Hotels & Resorts, EMEA.

"We believe that together with Archi, we are creating something truly special, a new centre of attraction that will set new standards for branded residences in Georgia," he added.-TradeArabia News Service