Green Valley International Real Estate Group, one of UAE’s leading conglomerates specialised in real estate development, investment and holdings, has announced the launch of its Dh500 million ($137 million) project in Tbilisi, Georgia.

The Green Valley City project is spread over an 88,000 sq m expanse where 35 per cent is covered in lush greenery, said the company in a statement.

The launch comes as part of the company’s efforts to expand and mark its presence across the country’s rapidly growing real estate segment.

The Green Valley City project is strategically located across Tbilisi’s Green Belt area, one of the most prominent natural forest reserves in Tabakhmela. It will integrate modern architecture that is in compliance with the highest standards of environmental sustainability.

The project will be feature 10 buildings which will totally house 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 panoramic views to its residents, said the UAe developer.

Green Valley City will also feature a wide range of high-quality recreational services and facilities that have been specifically designed to be at par with the world's set standards of luxury and efficiency.

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.

Unveiling the project, Ali Saeed Al Salami, the general manager, Green Valley International Real Estate Group, said: “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.”

“Another key driver is its strategic location, which is a relatively short distance from the Arab World. This has prompted us to develop Green Valley City - aimed towards addressing the growing demand of Arab and Khaliji investors for Arab projects underway in Europe,” he added.

According to the UAe developer, the residential units at the Green Valley City vary between 33.69 sq m and 99.62 sq m with units priced starting from Dh167,300 ($45,536).

All villas are 205.52 sq m with an outdoor garden spread over 125 sq m. Prices for villas start at Dh885,900 ($241,128).

Al Salami said the Green Valley City project serves as a key addition to its wide portfolio of projects.

"As with all of our projects, we are committed to developing Green Valley City in compliance with set international standards and guidelines. 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," he added.
-TradeArabia News Service