Dubai-based TGM Consultants has been appointed to provide full scope property management and leasing services for Tbilisi Mall, the largest retail and leisure development in the Southern Caucasus region.
This appointment cements TGM’s position as one of the leading consultancy firms in the region; following its entrance into the Southern Caucasus late 2013 through its ongoing involvement with the Yerevan Mall in Armenia, said a statement from the company.
One of the most significant leisure developments in Georgia, the Tbilisi Mall has been developed by UAE-based Rakeen Development.
The mall is the first modern centre to combine leisure, retail and entertainment in the region. With a gross lease area (GLA) of 74,000 sq m, the centre attracts more than five million visitors per year from all over Georgia and neighbouring countries, the statement said.
The development boasts 108 shops, 25 kiosks, and offers a broad range of high street fashion and internationally- established brands including Zara, Massimo Dutti, Gap, Marks & Spencer, Carrefour and Banana Republic.
Close to 80 per cent of the brands are new entrants into the Georgian market, it added.
TGM Consultants, which has a track record of successfully managing and leasing shopping centres for a period of 20 years, took over the property management and leasing tasks of Tbilisi Mall from July.
Philip Evans, the managing partner of TGM Consultants, said: “Historically, TGM has focused on the increasingly saturated CEE region – and while there are still ample amounts of opportunities for TGM in this region, we have followed our long-term strategy to further explore markets that are less mature and have significant business potential.”
“After conducting business in China and North Africa, and following our introduction to the Mena region last year, we are very pleased to have this opportunity in such a rapidly developing country within the Southern Caucasus,” stated Evans, who recently relocated to the new Dubai office in order to personally oversee the international operations.
“On the basis of our expanding strategy, we will also utilise the best practices of our new headquarters for international operations in Dubai alongside those of our retail franchise contacts throughout the region,” he added.
Krieshan Groverr, the CEO of Rakeen Development, said: “Georgia lies at the crossroads between Asia and Europe, and Tbilisi itself lies on important international trading routes that are extremely significant networks for the country’s trade.”
“We are happy to have TGM Consultants on board as property managers, as their wide scope of experience and network of offices complements our needs perfectly. We hope it will be a long and fruitful cooperation,” he added.-TradeArabia News Service