Portfolio and Acquisitions Summary 2019
Housing development business | Overview of completed and
on-going projects as of 31 December 2019
GEORGIA
CAPITAL
Total Sq.m.
(Net
#
Project name
Sellable
Area)
Number of
apartments
Sq.m. of Number of
apartments apartments
sold
sold
Number of
apartments
sold as % of
total
Number of Sq.m. Number of Sq.m. of
apartments apartments apartments apartments
available available for transferred transferred
for sale
sale
to IP
to IP
Start date
(construction)
Actual /
Planned
Completion
date
(construction)
Deferred
Recognised
Construction Total Sales
progress (US$ mln)
as revenue
Deferred
revenue
revenue
Land
value
expected to be
unlocked
(US$ min)
(US$ mln)
recognised as
revenue in 2020 (US$ mln)
Realised &
Expected
IRR
Completed projects
218,349
2,855
218,196
2,854
100.0%
1
153
20
3,183
250.5
250.4
0.1
0.1
32.9
1 Chubinashvili Street
9,366
123
9,366
123
100.0%
Sep-10
Aug-12
100%
9.9
9.9
0.9
47%
2 Tamarashvili Street
40,717
525
40,717
525
100.0%
May-12
Jun-14
100%
48.9
48.9
5.4
46%
3 Kazbegi Street
21,937
295
21,937
295
100.0%
Dec-13
Feb-16
100%
27.2
27.2
3.6
165%
4 Nutsubidze Street
15,757
221
15,757
221
100.0%
Dec-13
Sep-15
100%
17.4
17.4
2.2
58%
5 Tamarashvili Street II
21,023
266
21,023
266
100.0%
4
476
Jul-14
Jun-16
100%
24.3
24.3
2.7
71%
6 Moscow avenue
15,053
238
15,053
238
100.0%
Sep-14
Jun-16
100%
12.3
12.3
1.6
31%
7 Skyline
2,614
12
2,614
12
100.0%
7
1,375
Dec-15
Dec-17
100%
5.4
5.4
3.1
329%
8 Kartozia Street
58,443
801
58,443
801
100.0%
Nov-15
Nov-18
100%
61.1
61.0
10
0.1
0.1
ཚ
5.8
37%
9 50 Chavchavadze ave.
6,550
77
6,550
77
100.0%
5
741
Oct-16
Nov-18
100%
10.9
10.9
3.3
27%
10 Kazbegi Street II
26,889
297
26,736
296
99.7%
1
153
4
591
Jun-16
Jun-19
100%
33.0
33.0
4.3
43%
On-going projects
71,783
1,067
22,901
371
34.8%
696
48,882
25.8
9.1
16.7
9.1
9.0
11 10 Melikishvili ave.
2,527
16
2,527
16
100.0%
Sep-17
Apr-20
92%
4.4
3.2
1.2
1.2
0.8
101%
12 m3 Saburtalo, Stage I
22,089
391
16,980
301
77.0%
90
5,109
Jul-19
Sep-21
12%
18.0
59
5.9
12.1
6.7
2.5
112%
13 m3 Saburtalo, Stage II
47,167
660
3,394
54
8.2%
606
43,773
Jan-20
May-22
0%
3.4
3.4
1.2
5.7
132%
Total
290,132
3,922
241,097
3,225
82.2%
697
49,035
20
20
3,183
276.3
259.5
16.8
9.2
41.9
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