Swiss Investment Company enters Georgian real estate market
Georgia, Tbilisi, Nov. 3 / Trend N. Kirtskhalia /
Swiss investment company 'Swiss Capital Contraction' entered Georgian real estate market. The main business of the company is to finance the suspended construction projects.
The company said that the enterprise has developed a financing scheme and the conditions. They will be individually considered with all interested companies.
"We are mainly interested in residential buildings, but consider office buildings. I think that our proposal will be very interesting for representatives of the constructions suspended in Tbilisi," director Jim Simpson said.
The amount of financing for each project must not exceed $3 million. The company will not finance more than 75 percent of the project cost.
"The main priority in choosing the project will be its liquidity. We will consider construction facilities existing in the central districts of Tbilisi at the first stage. Our company will solve all the legal and financial issues, organize sales and marketing, as well as monitor the construction process," head of the department, Nino Absandze, said.
The first stage started in November. It will run until late 2010.