The FINANCIAL — Development company Axis is ready to meet 80 percent of its obligations this year. The company has overcome the post-crisis slump, has found financial investors and is ready to finish all existing projects and start new ones already in 2013.
“All the units belonging to Axis are already financed at this point, which gives us the opportunity to meet 80 percent of obligations this year and the rest – next year,” Giorgi Kapanadze, the Director of Axis, told The FINANCIAL. “Axis was able to find a financial investor, so TBC Bank has returned Axis Tower assets to Axis Development Company. Construction is scheduled to be updated at the end of this year, or at the beginning of 2014. We are continuing cooperation with TBC Bank in other directions as well,” he added.
“In 2012 the company was in a post-crisis state. Before the crisis occurred in 2008, business stood on presales. Accordingly, Axis also had many obligations after the crisis. However, Axis could still finance several projects at the time. Today we are actively continuing with all construction projects, repaying all obligations, and at the same time planning new projects for 2013,” Kapanadze said.
The idea for a project of the first multi-terrace residential house in the country belonged to Axis. Axis implemented this idea for the first time in 1998.
Today Axis is working on seven projects and has seven different dimensions: architecture, engineering, project management, finance, marketing, customer care and design.
Axis has completed several projects since his establishment. These projects are a shopping centre in the Tskhinvali region, two residential buildings on Arakishvili Street, railway stations in Borjomi and in Makinjauri, residential buildings on Mtskheta and Petriashvili Streets, Axis shopping centre, office centre and residential complexes on Tamarashvili and Kazbegi Avenues.
Q. What new offers is Axis presenting to its customers?
A. What’s new is that Axis has created a repair group which offers the highest quality products to customers at very affordable prices, which is impossible to find elsewhere. We are cooperating with the best European brands and using their materials for this.
Q. You mentioned, that Axis is cooperating with TBC Bank again. Are you going to continue the cooperation with this bank?
A. Neither TBC Bank nor Axis ever put an end to their bilateral relationship. We have a relationship with TBC Bank that dates back several years and we intend to strengthen it further still. Negotiations on giving our customers affordable mortgages for renovations and for purchasing flats are already underway. We are finishing the construction of a 23 storey project on Sairme Street, financed by TBC Bank, and are working on joint future plans too.
Development company Axis is involved in several projects at the moment. These are Axis Palace 1 and Axis Palace 2. Axis Palace 1 is the first ever 5 star hotel-type residential complex to offer 24 hour service. It is located at the crossroads of Saburtalo, Gamrekeli and Bakhtrioni streets, with an overall span of 450 metres over all three streets.
Axis Palace 2 is the second multifunctional residential complex project in Axis’s Palace series. All residents can enjoy services which are otherwise only to be found in five star hotels. A staff force of 80 people will work 24 hour shifts offering services for both standard and non-standard packages. The yard of the residential complex includes a recreation zone of 3,000 sq. metres and a specially demarcated area with playgrounds for children.
As I mentioned already, Axis Towers is currently under development and the company plans to fully complete the project. This will be an ultra modern, first class business centre located on Chavchavadze Avenue, which will provide a professional environment for relations between companies and their clients.
The third Axis Palace will be built on Sairme Street, where the concepts of tranquillity, beauty and healthy living will intermingle in the form of a modern yet relaxing, superior type dwelling. The historical traditions of Sairme resort underpin the very idea of the present project. The resort’s grounds, a large swimming pool, spa centre, fully equipped fitness club and specially trained Axis Palace staff will all combine to provide the authentic feel of a health resort holiday.
Another Axis project which is currently under development is one that will be located on Abashidze Street, and is to be a high class dwelling house. The unusual architectural aspect of the façade is in keeping with the style of the surrounding buildings built in the 1950s. It will be of a simple construction with an abundance of modern elements. The construction of the house will use all up-to-date engineering technologies. The foyer will provide a modern and exquisite lobby for business meetings to take place in.
We intend to update the ongoing construction in Didube as well, which is the Three Different Yards project. The residential complex will consist of two 21 storey towers connected with each other by comparatively short 4 and 9 storey buildings. The yards will be full of coniferous trees and bright green lawns as ideal places for work or leisure during the summer. The yards will be interconnected with arches. Their design will be different too so as to create the impression of three clear zones designated for separate activities.
As Axis owns additional plots of land in the city as well as outside of it, the group is going to design several projects for these plots in the near future.
Q. What are the company’s sales statistics?
A. If we compare this year’s sales statistics to those of the same period last year, we will see a threefold increase in the amount of property sold.
Q. What changes are expected on the real estate market and how has the market been developing in Georgia?
A. The whole of the real estate market in Georgia has transferred to the western model, which involves tight cooperation between investors, banks and developers. This is the tendency nowadays and Axis is following it accordingly. Axis was the first company since the crisis to have managed to have successful relations with all its investors, banks and customers and to have incorporated this new strategy in its management.
Q. Why do you believe Axis was named a favourite brand of the Golden Brand Awards Ceremony this year?
A. I think that it is because of all the above-mentioned activities that Axis has been implementing in Georgia. Today, new brands on the market have to prove that they are estimable. But out of the original brands on the market Axis was the first to overcome the crisis. It is significant that since the crisis hit we have not decreased interest in our customers’ wellbeing. On the contrary, we are actually offering them more in terms of both service and materials.
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