The FINANCIAL — Lisi Development, which has set the bar for the Georgian development industry, has set a precedent by accepting the two awards at the European Property Awards. The Georgian company battled and competed against leading worldwide companies in the real estate development industry. Lisi Development received two awards – Highly Commended Mixed-Use Development in Georgia, and Highly Commended Residential Development in Georgia.
“The European Property Awards is one of the most prestigious competitions of the real estate industry. It is a part of the International Property Awards. Companies from many European countries enter various projects to participate in the competition. Participants of the contest are developers, as well as architects, interior designers and real estate agencies. There is a big list of standards that companies who are entering are required to meet. The achievements of the competing companies are then evaluated by a special judging panel, consisting of over 70 members. Lisi Development is honoured to have received this award now for the fifth time. The awards are very important to us. They guarantee that the company will maintain the international standards that have been our core priority from the very first days of their establishment. These standards are significant for creating and fulfilling the project which Lisi Development is developing in Georgia,” Nodar Adeishvili, General Director at Lisi Development, told The FINANCIAL.
An International Property Award is a world-renowned mark of excellence. The judging is carried out through a meticulous process involving a panel of over 70 experts covering every aspect of the property business. The awards are open to residential and commercial property professionals from around the globe. Since 1995, they have celebrated the highest levels of achievement by companies operating in all sectors of the property and real estate industry.
In 2015 Lisi Development was included in the annual publication of the World’s Best Architecture / Developers / Agents / Interior Design. The World’s Best publication is also issued by the International Property Awards. “If we have a glance at other world leading companies that were also included in this edition we will obviously see what the scales of this award are. The award is a guarantee for Lisi that it will remain devoted to its high standards,” Adeishvili said.
There are two different directions, for which the company was honoured with an award: residential development and mixed use development. As Adeishvili explained, all of the additional projects that the company offers in their complex mean that the company can apply to enter not only the residential apartment competition, but also mixed use development. “The first award that we received was issued for the first phase of our complex. Now we have competed with the second phase. It is important to note that when applying with the second phase judges request that the standards fulfilled for the previous phase are maintained. It means that we are spending lots of resources on further maintaining the existing standards.”
Founded in 2011, Lisi Development has already completed the first phase of its project, called Lisi Veranda. The project comprises 170 units in total. These include: four villas, over twenty townhouses, and apartment blocks. Realization of the phase has been successfully achieved. Only a limited amount is still available for sale. In the first quarter of 2015 the company started construction of the second phase. Another 260 units will be offered to customers. Construction will be fully completed in 2016. In the new phase the company will be offering residential blocks and townhouses. Villas will be built near Lisi Lake. The company is successfully cooperating with Dutch financial institution, FMO.
“The company owns 350 hectares of territory. The projects that we develop are not only residential units. All of our projects are united in one called Lisi Green Town. The Givi Zaldastanishvili American Academy in Tbilisi, along with the British-Georgian Academy, are both situated within our territory. It is a good practice that educational centres, where children naturally spend a lot of their time, should be located in an ecologically clean environment. It is time to change old habits and implement values other than territorial proximity. Ecological standards should be widespread everywhere. In terms of this, we appreciate the steps of these two educational academies, that are offering not only the high academic level, but are also focused on the environment where future generations are being brought up. We are developing a running track around the lake. Several restaurants have been opened. The sulphur baths are already operating. Entertainment areas for children have also been opened. We have the Lisi Greens plant nursery here which provides green plants from Italy not only for our company but also for the whole city. Our goal is to make Lisi a synonym for a proper, healthy lifestyle for residential apartments, educational centres, entertainment and leisure purposes,” Adeishvili said.
Q. World leading development companies compete alongside you in this contest. How does the Georgian Lisi Development manage to battle these world giants?
A. The company’s vision explains a lot. The main idea of Lisi Development was to offer large recreation areas and low-density development. In accordance, out of the total 100% of our project’s area, approximately 20% is used for buildings. The remaining 80% is used for parks, green areas and public spaces. This concept makes our project unique in Georgia, and, as we have seen – overseas too!
Q. The awards ceremony brings together key players of the development industry. Can we say that for your company this is also a good platform to share ideas and learn something new?
A. Such platforms provide a good opportunity to find new partners, architects, and share experience. It allows us to gather new experience and later use it for the development of our company. We have the advantage of bringing innovations to the Georgian development industry. Our team has always been open to receiving new experiences so we put maximum effort into bringing new knowledge with us after attending the awards ceremony.
Q. One of the main advantages of Lisi Development is its 80/20 concept, which was recognized by international judges. Can we conclude that this approach is universal and is one of the main priorities of consumers regardless of citizenship?
A. An ecologically clean and green environment is a key need of any human regardless of their origin. Accordingly, 80% of our green territory will always be in demand, on any market. Another issue is how other companies manage to make the same offer either in Georgia or overseas. This trend will remain a key factor, especially when we talk about residential space. I am sure that in future the requirement for green zones will further increase.
Q. How do you measure the success of your company?
A. Our satisfied customers that already reside in our complex are the key measurement of our success. They have shared our values. Their emotions and feedback towards the environment, the satisfaction of their children and whole family is the main indicator that the company has successfully achieved its goal. Our residents are our messengers and advertisers. We are witnessing a trend of sharing the benefits of living in the green complex of Lisi among our residents and their friends. So, we are seeing new customers who decide to buy an apartment on the recommendation of their friends already living here.
Q. The economic downturn forced many companies to focus on existing projects and postpone any further developments. Tell us about your company – how are you managing to continue your development despite the existing situation?
A. The company’s approach and priorities remain unchanging. Furthermore, we are moving forwards at a faster rate. The company has offered more products for sale. We remain uncompromising on quality. In some parts we have even improved our quality, which has been made possible from our experience. Any industry constantly changes and develops and development is no exception. So, we are regularly updating our standards and introducing novelties in our company. General economic conditions domestically and overseas might not be good, but they did not force our company to change or interrupt our plans. We are steadily moving forwards.
Q. Lisi Development is one of the leading companies in Georgia. With your unique concept you do not have any competitors on the market. Accordingly, in development you are continuing your own evolution in this direction. So where do you manage to glean lessons from?
A. There is no project equal to Lisi on the Georgian market. It is really very difficult to offer an 80/20 concept, especially in the centre of the city. We are always trying to follow all the latest trends that appear on international markets. As mentioned above, we are closely watching the demands of customers and yes, they are our main teachers. Our existing and potential residents are those who dictate to us and give us lessons in many directions.
Q. What are your further plans?
A. For 2016 we will continue with the development of phase 2. A part of this phase is already completed. More than 70% of these four blocks constructed in the second phase are already sold. We plan to complete the first four blocks by the end of the current year. A minimum equal amount will be offered to customers next year. Five new squares will be constructed. Two of them will be opened next month. They will bring additional benefits to our green zone. In our first phase, called Lisi Veranda, we built only one central park. In our second phase we will construct several central parks. It will give more space to our residents for rest and leisure. One of the parks will be open to the public. We will bring an ecologically clean area to all those who are trying to escape from noise and pollution, and who want to enjoy beautiful views.
Q. How would you characterize your residents?
A. Our residents are mostly families with two or more children. They are from a range of different professional backgrounds. The values are what unite all of them. Their main value is living and bringing up their children in an ecologically clean and healthy environment. The majority of our residents already had an apartment and started looking for a better, improved lifestyle that is in line with their demands. Lisi Development is where modern people can find all their requirements.
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