GREIMS Batumi 2019
On June 22 and 23, a closed event dedicated to foreign real estate, investments and migration issues took place in Batumi – GREIMS Batumi.
The participants and speakers were representatives of 24 companies: Horizons Group, Simetria, Green Cape, Premium Group, Hochbau Development, Schuchman Real Estate, Batumi Paradise, Sky Inn, Dreamland Oasis, Panorama Kvariati, Binadari Development Company, , , Remart Group, Batumi View, REA Investment, Mgzavrebi Hotel Chain, AVG, Geo Estate, York Towers, MSZ Georgia, Fin.Exp.Corporation, Sfero Holding, ZULU VIP.
The difference between GREIMS Batumi and GREIMS events in other cities is that most of the participants were local development and consulting companies, as well as real estate agencies.
Especially for the event in Batumi, the Global Promotion Group company organized a delegation of visitors consisting of representatives of the CIS countries, the Baltic States and the Persian Gulf countries. The delegates were foreign real estate agents who are already engaged or planning to engage in real estate in Georgia, as well as potential investors and buyers of Georgian real estate.
As part of the business program of the first day, participants and visitors gathered at a round table where they discussed the current situation in the real estate market, as well as issues related to investment and migration. The current topic was the relationship between Russia and Georgia, in particular the cancellation of direct flights between them.
The participants of the discussion came to the conclusion that this situation will undoubtedly affect the volume of sales in the short term, but this does not mean that Russians will completely stop buying real estate in Georgia. The proof of this is the fact that in October 2006 direct flights between the countries were already suspended, but the Russians continued to invest in Georgia. In addition, it is a good incentive to find and attract investments from other countries, which there are already many examples of, and one of them is the situation of the Russian authorities banning the import of Georgian wine, which served only as an impetus for Georgia to enter other markets.
It was also noted that Georgia remains a fairly budgetary destination for investment, but in the future, Georgian developers face important tasks: the need to improve the service and quality of construction, as well as the development of the “after sales management” service to diversify incoming investments and expand the geography of a potential buyer. It is also necessary to conduct an advertising campaign in a targeted manner, including for Russian buyers, despite the current situation, because there is a share of buyers who are ready to invest in real estate in Georgia.
In addition to Russia, buyers from Kazakhstan, Ukraine and the Middle East are showing increasing interest in real estate in Georgia. During the discussion, the issues of what is interesting and relevant for these buyers in the Georgian market were also discussed.
Then the business program continued with a series of presentations that the companies held on the first day for local and invited real estate market professionals, and on the second day for private buyers and investors.
In addition to presentations of residential and commercial facilities by Georgian developers, the GREIMS Batumi business program consisted of the following topics:
- How to invest in Batumi correctly?
- Analysis of the demand for real estate in Georgia among the Russian-speaking Internet audience in 2018-2019;
- Digital solutions for the real estate market;
- "Why Georgia, and not..." - current requests of Russian-speaking buyers;
- The struggle for an investor: architecture and design - why is it worth developing the luxury segment in Georgia, and how to attract HNWIs?
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