Home / Business / Price is $6000 per m2 at Redix Apartments on Chavchavadze Avenue
Price is $6000 per m2 at Redix Apartments on Chavchavadze Avenue

Price is $6000 per m2 at Redix Apartments on Chavchavadze Avenue

Acquisition of an apartment at Redix Apartments on Chavchavadze Avenue will cost 4.2 million USD.

Founder of Redix talked about the most expensive residential complex in the history of independent Georgia with Property Georgia.

According to Lasha Papashvili, Sales of residential properties are strictly limited due to quantity. There are only 11 flats spread across 11 floors, each with an area of 700 m2. The price is $6000 per m2.

“Interior works have not even started yet, but we have already sold 7 of the flats”, – Lasha Papashvili declares.

The $70 million project is being funded by the European Bank for Reconstruction and Development (EBRD) and the Bank of Georgia. It includes residential and office properties, as well as a hotel. The 14-storey tower will be occupied by the Hilton Hotel. As for the 18-storey tower, the top 11 floors will have residential properties, while the bottom 7 floors will be taken up by offices.

“Even though this is a mixed-use project, all reception points will be fully independent from each other. Each flat will have a private cinema and a built-in wine room with a temperature and humidity control system. I would like to emphasise that we use only premium-quality materials for all interior works. These same properties would cost three times more in London or Paris. Redix Apartments on Chavchavadze Avenue reflect latest trends from global megalopolises right here in Tbilisi”, – the businessman declares and notes, that the residential part of the complex will be completed in the first half of 2019, while the 4-star Hilton Garden Inn hotel will open by the end of 2018.

With regards to the hotel itself, Papashvili notes, that they are introducing the world’s leading brand onto the market in Tbilisi.

“With the exception of the five-star Pullman hotel, which is to be opened across the road from us, Hilton Garden Inn will have no competitors within a radius of 2 to 3 kilometres”, – lasha declares.