The FINANCIAL — TBC Bank is offering a new mortgage loan which has been developed specially for potential clients of Lisi Development, and has an interest rate which ranges from 0% to 8.44%. The percentage-free loan applies to a 15 month term, and in the case of a 5-year loan the interest rate is 8.44%, lower than the standard rate per annum.
“Lisi Veranda” is situated near Lisi Lake, close to Godziashvili Street. This is a completely new, environmentally-friendly housing concept, multi-functional, with recreational zones and perfected modern architecture.
The Lisi Development residential complex will be expanded to cover 355 hectares. Buildings will occupy only a third of the otherwise green territory, while the remaining area will be full of unique flora and specially cultivated gardens.
Lisi Veranda is exceptional in terms of its climatic conditions, thermal waters and breathtaking panoramic views of the city. This is due to the principle of planning used for it – low density development and no more than 4-storey high buildings. There is also a newly-built hippodrome near Lisi Veranda.
Lisi Veranda is a project of the company Lisi Development, the first development company in Georgia to implement such a large-scale project. The company’s goal is the creation of a building complex of modern style, with exquisite architecture in line with the promotion of a new ecological, healthy lifestyle.
There are three main types of accommodation available at Lisi Veranda:
1. Apartment
2. “Townhouse” with private courtyard
3. Villa with private courtyard
The first phase of the project will include a 4,000 square meter area of parkland, a swimming pool and gym. The residential complex will provide 24-hour security and a concierge.
At this stage construction of more than 120 apartments, 16 townhouse and 2 villas is already finished. 19 duplex-style and 8 studio-type apartments are still under construction.
The next phase of the project will begin in May 2014, and will involve the construction of 48,000 square meters and 260 living units.
According to the project, every house is energy-efficient. Also, special attention is being paid to the quality of the construction materials and their environmental qualities.
“The Lisi Development residential complex will be expanded to cover 355 hectares,” Nodar Adeishvili, General Director of Lisi Development, told The FINANCIAL. “At the moment the amount that has already been constructed is 5 acres, which comprises 160 living units. The 160 living units include townhouses, apartments and villas. The first phase currently comprises 5 hectares of land. The second phase is scheduled to begin at the end of May, meaning the development of 260 living units of approximately 9 acres.”
“Our main purpose is to ensure that the place has sufficient greenery. Out of the whole area, 25% will be buildings and the remaining 75% will be completely green. Most of the trees are imported from Italy, they have been chosen so as to be able to adapt easily to the local climatic conditions,” he said.
“Every house is currently thermally insulated making the houses energy efficient. They are cool in the summer and warm in winter. In terms of building materials, we used Italian bricks, Dutch façade materials and German doors and windows. Dutch wood is characterized by its stability. The exclusiveness of this project is in it having the best view of the city,” he added.
“We also built a fitness centre and a swimming pool which will only be available to customers who have bought an apartment within this project. The project includes 24-hour security and a concierge. Future phases of the project will also include tennis courts, a stadium and other facilities. 80% of the apartments are already sold. For this part of the project expenditure was USD 30 million. For the second stage of the project we are planning the construction of 260 living units, in which the company plans to invest USD 60 million,” Adeishvili said.
“We have 3 types of product,” Zurab Tcharbadze, Commercial Director of Lisi Development, told The FINANCIAL. “The first is a 4-storey residential apartment complex. For this the price range is from USD 1,180 to USD 1,300 per square meter. The price depends on the arrangement, the floor, the views and other individual characteristics. The second type is a townhouse, the minimum price of which is USD 1,350 per square meter. This is a 2-storey independent house with a small plot of land. Nearly 300 square meters. The third is a villa, the minimum price of which is USD 1,590. Each villa is constructed on an area of 800 square meters.”
“The new product by TBC Bank enables customers to have greater access to such apartments and houses,” said Nino Kacheishvili, Head of the Retail Loans Sales department, TBC Bank. “For example, an apartment which is 65 square meters costs USD 77,000. In such a case, the customer must have 30% participation, and then the loan amount will be USD 51,200. The standard average rate is 11% whereas for this special programme the rate is 8.44%. The 8.44% interest rate is for a 5 year term. However, there is also the possibility of a 0% interest rate. This will be in the case of a 15 month loan. For a period between 15 months and 5 years, the rate will be lower than 8.44%. The monthly fee in a standard case is USD 1,115, and for our joint project the fee will be USD 1,050. The service fee is 1% on the market; for this product it will be 0.5%. And savings for the customer will be USD 4,116. This product is already available so customers can come into any branch of TBC Bank now and take advantage of it.”
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