Article by PropertyGeorgia
26 800 players from the real estate sector, up to 6000 investors and 600 political figures from more than 100 countries – these are the numbers behind the 30thMIPIM expo that took place on 12-15 March in Cannes. Investors attending the largest real estate exhibition were drawn towards the Landmark Bakuriani stand, which showcased Dux Development’s innovative project of a four-season rooftop skiing track.
“We did not expect our project to receive such a wide attention. We were therefore represented with a standard-size stand, while London, Istanbul, Berlin, Brussels and Dubai had large exhibition corners set up near us,” states the Marketing Manager of Dux Development, Gvantsa Pachulidze. According to her, Georgia as a whole is drawing a lot of interest from investors, while the Landmark Bakuriani project is attracting particular attention due to the competitive terms on offer: “In most European countries, the average return on investment is 2.5%, while in our case, it is approximately 10%,” states Ms Pachulidze.
International hotel brands have become interested in the Landmark Bakuriani project. Company representatives have held talks with Hilton and Accor Hotels.
Notably, Landmark Bakuriani has also attracted attention from international media. It was named among ‘five craziest projects’ by the French newspaper Nice-Matin.
About Dux Development
The Azerbaijani firm ORI GROUP has been represented in Georgia through its subsidiaries DUX Development and HUECK Georgia since 2007. DUX Development is a construction and development company, while HUECK Georgia, which is the German aluminium manufacturer’s partner firm in the South Caucasus region, has implemented well-known projects such as the Mercedes Benz Centre, Panorama Tbilisi and Hausart Plaza.