The Real Estate Development Company Redco and the Bank of Georgia announced a joint operation relating to Georgia real estate. Within the scope of the program, Redco offers its customers renovated apartments in the networks of Gudauri Apart-hotels at the value of an apartment finished to white carcass measure (which is when all of the central structures are available, still, none of the cosmetic touches are added). In its turn, the Bank of Georgia offers interested customers an investment loan, a simplified mortgage in GEL, or a loan tied to their personal needs.
What is Apart-hotel?
One of the most beneficial options to invest your money is buying real estate. In those areas where tourism develops, the prices of apartments rise accordingly. Taking this pattern into account, real estate developers designed a new type of real estate, Apart-hotel, which is a mix of a residential apartment and a hotel. The system of Apart-hotels is proven to be a successful project in developed countries. This type of system also promises to be profitable for Georgia real estate sector.
The idea behind the apart-hotel is that the owners can take advantage of hotel services, including reception, concierge, cleaning, etc. In the absence of the owners - when they do not use the apartment themselves, the managing company can assist them in offering the apartment with rent. Only during this sophisticated service, the managing company receives a fee from the rental income.
This is one of the reasons that the profitability of apart-hotels in tourist zones is a sure thing. As Gudauri is a popular resort both locally and internationally, the value of an apartment purchased today will be worth more in the future resulting in a well-made investment.
Redco’s representative remarks about the project, “Redco cares for its customers and constantly offers news at emerging resorts. Now, the company continues to do so along with its partner bank. According to the general plan, Redco will construct 26 buildings in Gudauri, including Apart-hotels, various entertainment and recreation centers, several hotels of world-renowned brands, including Radisson Blu Gudauri. In addition, Redco plans to open the hotel of the international brand Le Meridien in Batumi in spring. The company has allocated $80 million as the investment for this project.”