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Red-Co Continues Construction of Resort Complex in New Gudauri

In 2023 Georgia will host the international ski championship, with Gudauri as one of its main locations. In order to conduct this championship on the highest level, with a high class infrastructure, developer company Red-Co spares no effort and keeps creating a new modern ski town called New Gudauri, located at 2,196 m above sea level.

Red-Co builds the town according to a master plan where alongside with residential and resort complexes various tourist infrastructure makes the small settlement at the elevator more diverse each year.

If we look at the tourism growth dynamics, demand for real estate in New Gudauri grows as well and becomes a certain trend.

Within the projects started and finished by the company in 2012-2017, 99% of approximately 1,400 apartments have already been sold. There are cafes, restaurants, bars, shops for tourists in the complexes, various entertainment activities are conducted. In 2017 the first casino and Bisplendi shop representing collections of the world famous fashion brand BOGNER were opened in New Gudauri.

New Project Construction Started in Spring

In May 2018 Red-Co announced construction of new projects. Among them, Alpic and Twins projects are already on sale, you could buy an apartment there starting from GEL 60,000.

If calculated, you can buy an apartment in New Gudauri at GEL 2,000 per 1 sq. m. which according to the company’s representatives is a very competitive price, taking into account incomes that renting out an apartment in Gudauri can bring.

As announced by the company, the price for these projects is now 30-50% lower than it will be at the completion stage. Together with tourism growth, demand for real estate grows as well. Not only Georgian but also foreign citizens are interested in purchasing an apartment in tourist area. Approximate distribution of sales is at 60/40, where 60% belongs to Georgian citizens, while 40% to foreigners.

“It becomes an economically active zone not only in the winter season but also in summer. Gudauri will be one of the hosts of the 2023 ski championship to be conducted in Georgia. This will further promote Gudauri real estate on the international market. Especially since by that time construction of New Gudauri conducted by Red-Co will be mainly over and prices for real estate in Gudauri will be completely different”, said head of the Red-Co marketing.

“At the same time, alongside with creating infrastructure, our goal is to provide increase in service level, both for tourists and apartment owners for whom investments in the mountain resort should not be connected with various technical or household problems. Red-Co management team will take care of that”, said Maia Bichikashvili.