View of the Tbilisi sea, beach and mountains within reach. Have you heard about Little Slovakia in Georgia?
GINO Holding a.s., which is behind successful Slovak projects, such as the water park in Bešeňová or the mansion in Orlovo, comes with a unique offer of investment apartments in Tbilisi, Georgia. A luxury neighborhood is growing there, which combines residential living with the possibility of recreation just a stone's throw from the city center. Viktor Čumakov, the company's project manager, talks about the benefits of investing in Tbilisi Boulevard - Little Slovakia GINO Holding as.
You were the first to bring the concept of investment apartments to the AKVAMARIN hotel in Bešeňová. How did clients react to it then and what is their attitude towards such an investment today?
Bešeňová is a phenomenon in Slovakia. The founder of the company, Nodari Giorgadze, built the most famous recreation and relaxation complex with an aqua park in Slovakia from a spring around which a few local people gathered. It offers visitors relaxation, entertainment and health care, which is why there was interest in the sale of apartments from the beginning. People enthusiastically accepted the possibility of investment with favorable valuation and, in addition, with the possibility to use their apartment for free up to thirty days a year.
Why is such an investment beneficial and why should clients invest their investment capital in these properties?
Compare this to, for example, investing in securities, which often offer the same returns. The bonus that clients receive when investing in an investment apartment is that at the end of the day, they will receive the principal with a pre-agreed interest, and in addition to this interest, they will also be left with a property whose value will not be reduced by inflation. In addition, if the property is located in an attractive and unique environment, which the Akvamarin hotel certainly is, its value will increase even more over the years.
Are Slovaks also interested in real estate investments abroad? Was this one of the reasons why you decided to build the project Tbilisi Boulevard - Little Slovakia?
We built on the name of the company and the GINO brand, which we have been building for years and has a good reputation not only in Slovakia. Our clientele is not only from Slovakia, but also from across the Morava River. We "made a good mark" in Bešeňová: first we built a unique water park with accommodation, where we fully utilized the potential of the space, and later during the lockdowns, we were the only ones in the region to complete the construction of a hotel with 235 investment apartments, which are located directly on the water park grounds. The trust of our clients has deepened and many of them now continue with us in Tbilisi as well.
The name Little Slovakia already refers to our country, the project is being built by a Slovak company with Slovak suppliers. Why did you decide to go this route and not use local companies?
I will say it in the words of the company's general manager, Dr. Nodari Giorgadze, who says that as a Georgian, he brought a part of Georgia to Slovakia. Three of the hotels in Bešeňová are named after his grandsons, and he even lived in Bešeňová with his whole family during construction and left his heart here. As he himself says, he does not regret it, because it was a beautiful stage of his life. Now the time has come for him, as a Slovak, to bring a part of Slovakia to Georgia, and that is why he wants to build a project called Little Slovakia.
From the beginning, GINO Holding has established the philosophy that every investor is also our partner.
Viktor Chumakov
So can we say that your potential investors will feel at home with you?
From the beginning, our company has established the philosophy that each of our investors is also our partner. Just like the projects in Slovakia, we are building Tbilisi Boulevard - Little Slovakia together with our partners. They invest funds in the project together with us, we in turn bring our knowledge, know-how, but also the rich experience we have gained over the years. We are convinced that only together can we achieve great things, only together can we look each other in the eyes years later, shake hands and say that we have successfully traveled a long way.
How is the construction of the project progressing at the moment and what are your plans for the near future?
In 2014, we built a copy of the Bešeňov water park near the "Tbilisi sea". The year 2023 was in the spirit of the opening of the GINO Seaside Tbilisi ***** hotel, it is a building with 218 investment apartments, which is right in the area of the water park. Today, we continue to build the project on this land and we are at the beginning of the construction, where a high-end housing estate will grow on 30 hectares within seven years, which will become a new luxury district in Tbilisi, located a few kilometers from the historical center. In the closed and guarded resort, 3 people will find permanent housing here, there will also be a hotel, an office building with a large congress hall, a school, a kindergarten, a health center, an outlet, and sports fields. The dominant feature will be a large promenade on the shore of the Tbilisi sea, which will be lined with cafes, restaurants and shops. Our intention is also to make this project car-free, so it will not be possible for them to park right next to the buildings. However, it is a matter of course that a parking garage will be built within the complex, and each building will have its own underground garage.
What will the client get if he decides to invest in your Georgian project?
We offer clients a fixed income paid quarterly and a ten-year lease. Since no one is sure what will happen after ten years, and we want the future owner not to worry about his investment, we offer future owners the possibility of a buyback after the end of the lease in the amount of 130-140% of the purchase price of the apartment.
Our clients also have the option of a 14-day owner's stay, which means that they do not pay for accommodation during these days. In addition, they will receive a 50 percent discount on admission to the GINO Paradise water park. The benefit is that they can use this stay already during the construction of their own apartment with the possibility of accommodation in the GINO Seaside Tbilisi ***** hotel, located just a few meters from the Tbilisi sea, right in the area of the water park.
What returns can clients expect from their investment?
The yield as well as the redemption depends mainly on the selected program. Specifically, we are talking about a return of 6 to 7 percent per year. Clients also have an immediate return, which we pay after signing the contract on the future purchase contract in the amount of 2-3 percent per year. During construction, the real estate earns money for the client.
How does the whole process work? Is it possible for investors to get an apartment without visiting Boulevard Tbilisi - Little Slovakia?
We are open to any kind of cooperation and, of course, clients can also buy an apartment in our project directly from Slovakia. We are happy to welcome every potential client to our offices, where we will present the project to them with the help of a virtual tour.
However, our recommendation is to directly visit Tbilisi Boulevard - Little Slovakia, thanks to which they will have a better idea of the project. Anyone who has purchased an apartment from us, already during the construction of the project, we offer free accommodation in the hotel GINO Seaside Tbilisi***** as part of the owner's stay, which is only a few meters from the building itself. Over the course of seven days, clients can better familiarize themselves not only with the project, but also enjoy relaxing in the water park and get to know the beauty of the city of Tbilisi and its more than fifteen hundred years of history. All information can be found on our website www.ginoparadise.sk.