„All of our projects are built with energy efficient materials“, Zurab Mekvabishvili, Co-Founder and CEO of SEU Development

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The FINANCIAL — Q. What do you think of the condition of Tbilisi’s architecture?

A. First of all, I would say that the city’s heritage from the Soviet Union is inadequate and does not fall into the category of the historical development of Tbilisi. However, it is noteworthy that Tbilisi City Hall is very intensely involved in the resolution of the issue, which is reflected in its new regulations and initiatives.

One such example are the problems with so-called “Khrushovka” flats, which are vitally important to solve to ensure improved living conditions as well as developing the outward appearance of the city. It is noteworthy that in terms of the abandoned constructions that we face today, it would be great if there were to be some steps taken in this direction, towards local self-governance and investors.

Q. What differentiates SEU Development from the rest of its competitors?

A. I would say that this is the quality of our company, the timing of completion and payment conditions that we offer to residents.
109 apartments have been sold at “Green Yard” within the space of just 4 months. This figure is exceptional for the Georgian market – it is a clear indicator of trust towards the company. After successful sales of the project in November, 2017, the company gained its first international recognition. It was awarded a prize by the Real Estate Forum & Project Awards, in the nomination of successful sales, held in Ukraine’s Eastern Europe Real Estate Forum.

Q. Do you have any new projects in the pipeline?

A. In one of the city’s suburb districts, we are working on a huge project that covers an area of 50,000 m2, which includes a recreational zone, accommodation/office spaces, fitness spaces, and also a new direction – a school.
Another interesting project we are working on is on Zubalashvilebi St. At this stage, there are ongoing works on the regulation of development, which will be completed very soon. We think that this will be one of the most important projects for our company.

Q. How do you choose the location for a new project?

A. Choosing the location is one of the most important and difficult phases. The first thing that we consider is the demand. We are trying to maximally assimilate Tbilisi’s suburbs and make them grow. If we take into consideration the fact that the city has been very much saturated with buildings, we might plan for our next projects to be situated far away from urban noise and peripheral development.

Q. How do you reconcile the issue of environmental protection with the process of Tbilisi’s urban development?

A. All of our projects are built with energy efficient materials and our company is engaged in the implementation of new technologies. One of our priorities is to maintain the existing recreational zone and further develop and maximally try to avoid environmental pollution.

Q. What do you consider to be the main problems affecting your business today?

A. We can say that the regulations that are being implemented today are creating some inconvenience. However, despite that I would still say that it is very important that all companies operating in our business together with Tbilisi City Hall are involved in those regulations and initiatives which aim to bring in new investors.

Q. How do you envision Tbilisi in the year 2020 and your role in its development?

A. I’d go back to the first question, it’s crucial to improve the remnants we’ve been left from the Soviet Union. The architectural part is as important as the visual side, as well as it being an architectural solution which will give us an even more beautiful city in 2020.
Our involvement, of course, will be reflected in our projects, in the direction of development of recreational zones, even in energy efficiency directions. I think our involvement is very important if we want to achieve a better city by 2020 with better living conditions that will be available to all.

Eva Bokvadze, The FINANCIAL


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