York Towers Developing a Large-scale Green Residential Complex in Tabakhmela
Environment pollution is one of the biggest problems in the world, and in Georgia it is sadly no different. As such, it is extremely important to use the services of companies which spare no effort to care about ecology and, at the same time, provide maximum comfort for their customers.
These days, there are few construction companies that care for maintaining the conditions created by nature, while also offering an international experience such as York Towers does.
One of the main priorities of the York Towers Company is to conserve a clean environment and fresh air, providing an excellent opportunity to build your family’s healthy future today.
York Towers is a leading international Real Estate Developer with multiple investments in Europe and the Middle East and it continues expanding its projects to cover all real estate activities worldwide.
The Company has successfully finished many projects in Europe and the Middle East and since 2017 has been operating in the Georgian market too.
Right now, the highly qualified and experienced team of York Towers is developing one of the biggest and greenest projects in the country, York Town, an eco-friendly residential complex in Tabakhmela, near Tbilisi’s Mtatsminda Park, surrounded with breathtaking mountains and abundant greenery, including up to 256 cozy apartments and 100 luxurious villas.
This is the largest urban community compound in Georgia and presents a luxurious and modernized lifestyle, serenity and beauty. The project extends over an area of 100,000 square meters in Tabakhmela, with construction exceeding a $100 million investment. Exactly half of the whole area, 50,000 sq.m, will be dedicated to green spaces and recreation zones.
GEORGIA TODAY spoke to Mr. Amr Alabwaz, General Director of York Towers, to find out more about the company’s activities and future plans in Georgia, one of the most distinguished projects being implemented by the company, and his impressions about the local business and investment environment from a foreign businessman’s perspective.
Why did you chose Georgia for your activities and what would you say about the business and investment environment in the country?
This country offers a great opportunity for investors who are really thinking about growing their business and making a profitable investment. Georgia has a safe and open market which is ready to import all good ideas for construction and development – it has great architects, great regulations and safety. Bank regulations and transferring amounts are also worth mentioning. So, everything is pushing you to create your own business here. We have been monitoring Georgia since 2011 to launch our business. We started in 2014, thinking that it would be a big mistake to wait more, and as it turned out, we were right.
So, it was the right decision to start operating in Georgia due to its safe business environment?
Yes, and it has been supporting us to upgrade our strategy for a long time. For example, we started with a brokerage firm here, then upgraded our strategy to start a new business and import new projects and ideas from Europe. So, when we started implementing, for example, the idea of the complex in Tabakhmela, to include all facilities and services necessary for our customers. And it will not only be Tabakhmela: we plan to implement many innovative ideas and construct other complexes here.
Which products does the Company offer to customers? In which districts of Tbilisi can we find buildings constructed by York Towers?
In Georgia, York Towers has successfully finished and delivered many projects, such as Dighomi Mall, multifunctional innovative space Diplomatic Dighomi, and Caucasus Tower in Temka the district.
I don’t like to focus on the city center. It’s overloaded with transport, noisy and is unclean. With the old regulations, many mistakes were made in planning the city center. We will definitely change this situation 100%.
We are trying to bring people out of the city center to the surroundings and suburban areas of Tbilisi, which is a very small city, by the way. For example, you can reach the center of Tbilisi, Freedom Square and Galleria Mall, from our Green Town in Tabakhmela in under twenty minutes. It’s not a long time, meaning there’s no need to live in the city, but in a location which is only 17 minutes away. The main advantage of York Town is that it offers everything in one space, so you don’t have to go to the city center for any service – you already have everything that you need around you! There will be famous brand shops, restaurants, a movie theater, night club, children’s entertainment center and much more included in the complex. So, why you should even care to go to the city center?
In Tabakhmela, we fully ensure services such as renovation, cleaning, security, maintenance and technical support and provide a building in which the whole family can feel happy. The residents of our new complex will be one hundred times happier than people who live in the central districts of Tbilisi. That is our strategy: to focus more on healthy and green environments and not on the polluted and noisy city center.
Which segment of society benefits most from your services? What would you say about customer demand?
Customer demand is quite high. And the customers here in Georgia always need a lot. However, they are suffering, to be honest, from cheap and low-quality construction service. Really. And we also suffer. We are trying to target the medium segment of the society and provide them with affordable prices. Why should a person who needs to live in a compound area have to pay, for example, $1500 per square meters to benefit from various facilities? No, you don’t have to do this. You will pay only $600-650 per square meter and you will enjoy great facilities. Why? Because we are creating a new district. So, our plan is that everyone who can afford to purchase apartments in the outskirts of Tbilisi will also be able to purchase them in our complex and benefit from all the facilities which I have already mentioned.
Which are the most innovative products and services offered by York Towers?
We offer our customers villas, flats, private houses, commercial spaces and lending. We operate in the market, which means that we have high-quality products and services.
Most importantly, we offer new locations to live. But these new locations are not poor in facilities or services area: on the contrary, people will live there in maximum comfort and will have everything they need. For example, in Tabakhmela we will even have a school and kindergarten (which is direct investment for creating an educated and wise generation), a shopping center, commercial and service areas, park, playgrounds and a swimming pool for healthy lifestyles: everything for their happiness.
When will the construction of Green Town in Tabakhmela be completed?
According to our obligations, it is set for three years, but our target is to finish the whole project on June 30, 2021, six months early. And I’m sure that we will be able to do so. We are to announce new projects soon as well, with the same concept as we have in Tabakhmela.
What are the most successful projects and steps implemented by the company in Georgia so far?
We have an impressive project in Dighomi, in front of the Goodwill hypermarket, which is a great location. I am also very confident about the Tabakhmela project, and I’m sure that it will encourage many investors and construction companies to develop the surrounding areas and before or within 10 years we will see a completely different Tbilisi in Tabakhmela with new regulations and planning. It will be a great city.
It should also be mentioned that if the government had had the right treatment towards Dighomi, we would now have a great district there. However, due to the lack of attention and guidance from the government, we see that the overall condition of this area is not satisfactory. I hope the government will instill the right rules for new districts of Tbilisi, such as Tabakhmela, Lisi and so on.
What would you say about your company’s involvement in corporate social responsibility projects?
Involvement in CSR projects is yet another priority of our company.
We support economic and tourism development in Georgia and are ready to use our resources to get love to the Georgian people and country from foreigner tourists.
In June 2019, when the now-notorious Russian travel embargo was imposed, York Towers joined the campaign ‘Visit Georgia’ aimed at encouraging tourists to travel to the country.
Our team was at Tbilisi International Airport. We gave flowers to tourists and wished them a good time in Georgia.
Our company often creates promotional videos depicting the unforgettable beauty and hospitality of Georgia, to attract even more visitors to the country. We have foreign non-profit websites, where we publish positive and pleasant news about the country, to let more people know about the good developments there and get inspired to start making investments, or just visit and enjoy it.
In addition, we have yet another eco-friendly activity planned for the future: our team intends to plant trees in Tbilisi, a city which definitely lacks fresh air nowadays. As for the location, let it be a pleasant surprise. We’ll release news about it soon.
Is there anything you would like to emphasize?
We hope and wish the Georgian government will be more supportive to local and foreign investors. We need some additional support. Georgia has a great law and regulations, but we need these regulations to be implemented in a practical manner so as to enjoy them. I, as an investor, need to enjoy it all – the law, the regulations, the rights… Any investor needs it. We need to be supported by the government to go through the process quickly and implement our activities more effectively.
By Ana Dumbadze
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