Redco, BoG Offer Renovated Apartment Priced as White Carcass Finish

The Real Estate Development Company Redco and the Bank of Georgia announce a joint action, within the frames of which Redco offers its customers renovated apartments in the networks of Gudauri Apart-hotels, at the price of an apartment finished to white carcass standard (when all of the main structures are in place, but none of the cosmetic touches are added). The Bank of Georgia, is offering those customers who wish to purchase real estate as an investment an investment loan, a simplified mortgage in GEL, or a loan tailored to personal needs, as desired.

What does Apart-hotel mean?

Purchasing real estate is among the best investments you can make. In parallel with tourism development, the prices of the apartments also increase. This trend is especially evident in areas actively visited by tourists. Based on the above, developers created a totally new type of real estate, Apart-hotel, which is the mix of the two concepts: a residential apartment and a hotel. This is a house located in a resort that will bring you extra income. The system of Apart-hotels is well-developed and proven in developed countries. The number of Apart-hotels is almost equal to the number of hotels and houses in numerous resort areas.

At an apart-hotel, guests have the opportunity to benefit from hotel services, including reception, concierge, cleaning, etc. During the period when the owners do not use the apartment themselves, the managing company helps them to rent it. Moreover, the managing company does not restrict the owners while using their own apartments but does receive a fee for the complex service taken from the rental income.

The profitability of apart-hotels in popular tourist zones is unquestionable. Gudauri has become an increasingly popular resort over the years, both locally and internationally, which means that the price of an apartment purchased today will increase in the future, which is a well-made investment.

"Redco cares for its customers and constantly offers news at emerging resorts. Now, the company continues to do so along with its partner bank. According to the general plan, Redco will construct 26 buildings in Gudauri, including Apart-hotels, various entertainment and recreation centers, several hotels of world-renowned brands, including Radisson Blu Gudauri. In addition, Redco plans to open the hotel of the international brand Le Meridien in Batumi in spring.  The company has allocated $80 million as the investment for this project," say the representatives of Redco.

The joint offer from the Real Estate Development Company and Bank of Georgia will be in force until the end of October.

Translated by Ana Dumbadze 

15 October 2019 16:52