The FINANCIAL -- The innovative developer m², which is distinguished for its high-quality projects and modern management principles, is one of the largest and most consistently growing companies on the Georgian real estate market. Company is covering four main business segments and accordingly has a large share in Georgian real estate sector.
Residential, Hospitality, Commercial Real Estate Business (Retail, Office, Warehouse) and Construction - these are the main directions that company operates and has future plans for.
Nino Rukhadze, Head of the PR department of m², talked about the company’s plans and vision for the future.
m² GOING BIG on Future Plans
“Up until recently, m² was known as the residential developer only, as part of the company growth process we have captured new opportunities and developed new business lines.
In about 5 years’ time we plan to operate 10 hotels across Georgia, reaching more than 1000 guest-rooms. We have already opened our first hospitality project on Kazbegi ave. - Ramada ENCORE by Wyndham Hotel & Resorts. We are also planning to open additional Ramada Wyndham Hotel on Melikishvili ave, and internationally branded luxury hotel on Gergeti Street. As for the regional coverage we are planning to open hotels in Telavi, Akhasheni, Gudauri, Kutaisi, Mestia.
By developing our construction Business Line at full speed – through our company BK Construction, we have successfully completed the construction of Radisson Collection Tsinandali, Moxy by Marriott in Tbilisi, Hotel Ramada Encore on Kazbegi ave. and also have rehabilitated iconic restaurant “Funicular” on Mtatsminda. Meanwhile we are in the process of constructing the City Mall on Saburtalo and Ibis Stadium by Accor Hotels. In the pipeline the plans are ambitious, we are planning to launch two new residential districts in Tbilisi.
We have already accumulated number of high-quality commercial assets throughout Georgia and are planning to further enhance our portfolio through opportunistic acquisitions and development within our residential and mixed-use complexes.
In Terms of Residential Real estate, we have delivered up to 3000 turn key apartments and are planning to double this number in the nearest future. The plans are ambitious, and scales have increased, what has not changed is our drive for innovation and our team of professionals, they never stop.
CSR and m²
As the socially responsible company we are working hard on following important directions: Environment, Education, Women Empowerment, Healthy Living and Support of Disabled People. In this relation we are involved in large-scale projects, such as re-planting of 2 hectares of Mtatsminda slope after the fire, this comprises 3 years of different stages, including planting, monitoring and irrigation, this is one of the projects that I am proud of. Second important environmental project is Electric Vehicle Chargers project, for the promotion of Electric Vehicles in Tbilisi and saving the air from pollution, we have installed 56 chargers in collaboration with “e-space” and are planning to work on additional 44.
We are a real estate company, therefore the quality of the workforce is extremely important for us, to overcome this challenge we have established the construction college “Construct2”, in collaboration with the Ministry of Education of Georgia, this project is worth 3 million GEL and is covering 11 short professional programs and 1 long term state program, for the professionals who are willing or are already involved in construction business. It provides the opportunity of getting a particular education free of charge, followed by potential employment at our company and not only. The director of the construction college is a lady, with this gesture and not only we are supporting women empowerment within the company, we are conducting quarterly seminars covering this subject as well. It is worth mentioning that the majority in the management of the company are strong women.
We have successfully completed the construction of a new Specialized Family-Type Service for Children with Severe Disabilities. We have funded the construction of the alternative care facility. Specialized Family-Type Service is an alternative care for 0-18-year-old children deprived of parental care and having severe/profound disabilities and complex health problems. The goal of the service is to provide beneficiaries with individual needs-based care, psychosocial assistance and create proper conditions for their development and social inclusion. The service provides 24-hour care of the beneficiaries, including nursing care, monitoring of their health condition, provision of the programmes promoting development of the children’s physical, functional and social adaptation skills. Family-type service has been established in collaboration with the Ministry of Internally Displaced Persons from the Occupied Territories, Labour, Health, and Social Affairs and with the support of USAID and UNICEF.
I think that every company has their fields which they need to focus on. We at m², take initiative to contribute to harmonious and sustainable development of society and environment through all business activities that we carry out. We comply with local and international laws and regulations as well as the spirit thereof and we conduct our business operations with honesty and integrity.