Co-investment and turnkey projects
Investing in construction projects in Tbilisi
stroydom.ge builds for investors in Tbilisi: entry from 120,000 ₾ for completing a stalled site, from 180,000 ₾ for a rental house and from 250,000 ₾ for a house built to sell. The horizon runs from 6 to 24 months. The advance never exceeds 15 %, the estimate is fixed in the contract in lari, and the structural warranty is 10 years. Photo reports arrive weekly, since most investors live outside Georgia.
We are a full-cycle construction company, not a broker. We bring investors into projects we build ourselves: plot selection, project economics, permits, construction and handover. Some sites never reach the open market at all and circulate among contractors and owners.
Why invest in construction in Tbilisi?
Tbilisi remains one of the few markets in the region where private construction is affordable at entry and still backed by genuine demand: rental, relocation and property purchases by foreigners.
Low entry cost
Construction costs 500–700 GEL/m² for the shell and 1,250–1,550 GEL/m² turnkey — several times lower than in neighbouring capitals at comparable material quality.
Straightforward ownership for foreigners
Non-residents buy and register property in Georgia on almost the same terms as locals, with no mandatory local partner. Restrictions mainly concern agricultural land.
Rental demand
Relocation, tourism and students keep rental occupancy in Vake, Saburtalo and the centre high all year round, not only in season.
Shortage of quality construction
There is a lot of unpermitted and "crew-grade" building. A property with a design, documents and a warranty sells faster and higher than comparable ones without them.
Where do projects that never appear in listings come from?
We have worked on sites across Tbilisi and its surroundings for years, so some opportunities reach us before the listing platforms: an owner selling discreetly, a developer looking for a co-investor on a specific block, heirs selling a plot without going to market. These deals are not published, and they require fast due diligence because the decision window is short.
- Development plots in Vake, Saburtalo, Bagebi, Tskneti and Kojori, including difficult terrain that deters non-specialist buyers
- Unfinished and stalled properties that are cheaper to complete than to start from scratch
- Stakes in projects that need a co-investor for the shell or engineering stage
- Buildings for reconstruction in the old town, where approvals matter more than price
How can you invest in construction in Tbilisi, and from what budget?
We do not sell "fund shares" and we do not pool money. Each project is a separate property with its own contract, budget and deadline.
House for resale
You buy the plot, we build a turnkey house designed for a specific buyer segment. Sale after handover. The clearest format for a first project.
Build to rent
A house or several apartments for long-term and short-stay rental. Layouts and engineering are designed for renting from the start, not retrofitted later.
Completing a stalled property
You enter a partially built property. We run a technical audit, calculate the real cost of completion and take on the finishing turnkey.
Co-investment
Participating alongside the plot owner or another investor, with shares and exit terms fixed in the contract before works begin.
| Format | Entry | Horizon |
|---|---|---|
| House for resale | from 250,000 GEL (plot + construction) | 14–20 months |
| Build to rent | from 180,000 GEL | 12–16 months to first rental |
| Completing a stalled property | from 120,000 GEL | 6–12 months |
| Co-investment | discussed per project | 12–24 months |
Updated:
What does the contractor take on in an investment project?
An investor does not need to live in Georgia or understand local regulations. Our responsibility runs from site due diligence to handover of the finished property.
Plot due diligence
Geology, land category, encumbrances, utility connections, machinery access, real buildable area under regulations.
Project economics
Construction budget, timeline and a resale or rental benchmark from comparable properties in the district, before you decide.
Permits
We handle the building permit process with Tbilisi City Hall. Legalising after the fact costs 2–4 times more.
Construction
In-house crews at every stage, a budget fixed in GEL, photo records of concealed works, a 10-year warranty on the structure.
Remote oversight
Weekly photo and video reports, a chat with the site manager, access to the budget and expenses. Most of our investors live outside Georgia.
Exit preparation
Pre-sale preparation, property documentation, help with valuation and viewings, or launching the property for rent.
How does an investment deal work?
1. Introduction and criteria
We discuss budget, horizon, acceptable risk and goal (resale, rental or building for yourself).
2. Sourcing
We show suitable sites, including unpublished ones. For each we provide the numbers: cost, timeline, exit benchmark.
3. Due diligence
Technical and legal audit of the chosen option. If we find a problem, we say so plainly and drop the property.
4. Contract
Scope, budget, payment schedule, deadlines and liabilities are fixed. Advance payment never exceeds 15%, the rest is per completed stage.
5. Construction
Works run to schedule with reporting. Any budget change requires written approval.
6. Handover and exit
Acceptance, documents, warranty. Then sale, rental or use, whichever scenario you chose.
What are the risks of investing in construction in Tbilisi?
Construction is not a deposit. We are accountable for budget, timeline and quality, but we do not control the market. These are the factors we discuss before a deal, not after.
Exit price is a forecast, not a commitment
Return benchmarks are based on comparable district transactions at the time of calculation. The market can shift over 12–18 months of construction.
Timelines depend on permits
Approvals at Tbilisi City Hall are an external process. We manage it, but we do not control review times.
Terrain raises costs
On slopes, retaining walls, piles and drainage add 15–40% to the budget. This is calculated before buying the plot, not during construction.
Liquidity is uneven
A house in Vake and a house in a far suburb sell at very different speeds. We raise this at the site selection stage.
Discuss a project for your budget
Leave your contact and we will get in touch, discuss budget and horizon and show current sites, including those that are not published.
We will call within an hour, 24/7. You do not need drawings for the first conversation.
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Investor FAQ
What is the minimum budget to start?
A realistic minimum is from 120,000 GEL for completing a stalled property and from 180,000 GEL for build-to-rent. A "plot + house for resale" project usually starts from 250,000 GEL. The exact figure depends on the district: a plot in Vake and a plot in Kojori differ several times in price.
Can I invest without travelling to Georgia?
Yes, that is how most of our investors work. The transaction can be done by power of attorney, and construction is supervised remotely: weekly photo reports, video calls from site, a chat with the site manager and access to the budget. Visiting makes sense for plot selection and handover, but is not required.
Can a foreigner buy land and build a house?
Non-residents buy and register residential property and development plots in Georgia on almost the same basis as locals. The main restriction concerns agricultural land, which foreigners cannot buy, so we verify the land category before any deal. Legal specifics are handled by a specialist lawyer; we are responsible for the technical side.
What return do you promise?
We do not promise a return, because that would be dishonest. For each property we provide the numbers: construction cost, timeline and an exit benchmark from comparable district transactions at the time of calculation. Over 12–18 months the market can move either way, and we say so plainly.
What does "projects outside public listings" mean?
Some plots and properties are never published: an owner selling discreetly, a developer seeking a co-investor for a specific stage, heirs selling a plot without going to market. Years of working on sites in Tbilisi mean such opportunities reach us through professional networks. The decision window is usually short.
How is the investor's money protected?
The advance never exceeds 15%; after that payments follow completed stages: you pay for work already done and accepted. The budget is fixed in GEL and is not recalculated against exchange rates, and changes require written approval. Concealed works are accepted by photo record before being closed.
What if a property turns out to be problematic?
We run technical and legal due diligence before the deal. If we find an encumbrance, a land category issue, difficult geology or access problems, we say so plainly and drop the property. It is not in our interest to bring an investor into a project we cannot then build to budget and schedule.
Can I exit before completion?
Exit terms are fixed in the contract before works begin, which matters particularly in co-investment. An unfinished property sells for less than a completed one, so an early exit almost always means losing part of the investment. We discuss this scenario upfront.
The information on this page is for reference only and does not constitute a public offer, investment advice or an offering of securities. The amounts and timelines shown are market benchmarks at the time of publication; actual terms are fixed in the contract for each specific property. Returns are not guaranteed.