RUSTAVELI PROPERTIES
Developer

m² Real Estate: the listed heavyweight of Tbilisi new-build

Real-estate arm of Georgia Capital, m² is the country's largest residential developer, indirectly listed in London. Volume, governance and banking rigour define the brand.

Main city
Tbilisi
Founded in
2006
Projects
14
Delivered units
5.200
Under construction
2.400

History

Founded in 2006 within Bank of Georgia, m² delivered its first Tamarashvili project in 2013. The brand grew into a vertically integrated developer (land, construction, sales, management) with over ten completed communities in Tbilisi and a rolling pipeline of 3,000-5,000 units.

Leadership

  • Irakli Burdiladze
    CEO Georgia Capital Real Estate
  • Giorgi Alpaidze
    CFO

Financial health

Backed by Georgia Capital (LSE: CGEO), m² publishes audited quarterly accounts. Gross margins of 25-30%, controlled leverage. This is the safest signature on the market for a cautious foreign investor.

Reputation

Excellent reputation on delivery and after-sales. Critical reviews focus on prices 10-15% above competitors, justified by build quality and the strength of the parent structure.

Pros

  • +Bank-grade signature, very low counterparty risk
  • +On-time deliveries
  • +Structured after-sales with English-speaking team
  • +TBC/BoG financing readily available

Cons

  • Prices per sqm among the highest on the market
  • Limited flexibility on payment plans
  • Little exposure to Batumi and seafront

Frequently asked questions

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Independent profile written from public sources (Georgian Public Registry, developer reports, industry press) and our own field experience. Not sponsored by the developer named.

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