Georgia’s construction companies see increase in projects cost

Georgia Materials 10 March 2022 17:16 (UTC +04:00)
Georgia’s construction companies see increase in projects cost

BAKU, Azerbaijan, Mar. 10

By Maryana Akhmedova – Trend:

The price for construction materials in Georgia has increased sharply over the past 2-3 weeks, Levan Gogsadze, the Director of Georgia’s “Smart Solutions” construction company said, Trend reports via Georgian media.

According to Gogsadze, the main suppliers of construction materials to Georgia are Russia and Ukraine, however, currently those markets are no longer available for import.

Currently, the company has been implementing construction projects, but, due to the delayed deliveries and the increased cost of materials, "Smart Solutions" is seeking for negotiations with investors in order to reduce prices.

Meanwhile, the construction cost index (CCI) in Georgia has been on the rise. According to the latest available data, the CCI in Georgia increased by 1.8 percent in the third quarter of 2021. The increase was mainly due to an increase in construction materials prices (2.7 percent), with a 1.59 percentage points contribution to the total index change.


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