is officially coming to Batumi!
Over the past ten years, the construction of residences in the global hospitality industry has taken the form of a sustainable trend. International hotel brands are the main drivers of this process.
In Batumi, since 2000, thanks to the introduction of international hotel brands and state support, the tourist flow has increased significantly, and the city has become an international multi-season resort on the Black Sea coast of Georgia, the development of which has become a continuous process. That is why today the hotel complex of WYNDHAM RESIDENCE BATUMI is erected in Batumi, which is an exclusive licensed project on the territory of Georgia and the CIS countries, a similar concept is present in the United Arab Emirates, Singapore, China, the Netherlands and the USA. This project is planned to be implemented 10-15-minute walk from the center of Batumi, in Gonio settlement, which is considered to be one of the most ecologically clean natural corners of the whole coast. The closeness of the mountains and the penetrating winds ensure the purity of the sea water even after heavy rains, as well as a warmer climate compared to the city center.
The 25-storey hotel complex is a brand residence 5* (480 apartments), as well as 100 rooms in WYNDHAM Garden with breathtaking views of the sea and mountains. Unlike the others, the hotel complex is located directly on the first coastline, only 20 meters away from the beach.
Gonio is located between Turkey and Batumi, only 8 minutes drive to the international airport.
In this part, WYNDHAM RESIDENCE BATUMI will be the first, multi-storey complex of this level with well-equipped infrastructure that meets Wyndham Hotels & Resorts 5-star standards. The hotels here are in most cases small guest houses and certainly do not belong to any international brand. Therefore, in order to develop tourism potential in Gonio, we must repeat the experience of Batumi: In order to build residences, we need to invite a well-known, international hotel brand, we also need to attract private investments.
What is the reason for investing in Georgia, in particular in Batumi?
The point is, investments need to be made from the beginning. Georgia, unlike other Black Sea countries, is only now starting to make a name for itself in the resort real estate market.
Batumi is a national project of Georgia, which is popular as a tourist center, where you can have fun and active recreation throughout the year. 5 million tourists come to Batumi every year, a significant part of which are Gonio. Here the buyer will be offered resort real estate, which is always valuable, especially due to its location – the first coastline. The capital of Adjara has a mild climate, sea and mountains, as well as developed transport infrastructure - air, sea and land transport is available.
What makes Georgia attractive?
- Low taxes, easy transport access, foreigners do not pay taxes on the purchase and ownership of real estate.
- Good conditions for business (transparency of operations, the principle of "one window").
- The right to private property protected by the state.
- Citizens of 94 countries do not need visas to enter Georgia, when buying real estate worth $ 100,000 and more, they get a residence permit. It is cheaper to maintain real estate here than in other countries.
- A foreigner can also register a company in a hotel room owned by him, as he is the owner of it and therefore has the right to dispose of his property at his own discretion.
Thus by buying real estate on the first coastline, you can at least be sure that it will never depreciate and with the development of the second, third, fourth, fifth, etc. coastline, your real estate will continue to rise in price.
The construction of WYNDHAM RESIDENCE BATUMI complex is carried out by the investment-development company NEXT GROUP, the commercial director of which is Giorgi Zhgenti, who provided us with the details of the project.
Thus the area of the apartments ranges from 29.76 to 58.25 square meters, depending on the planning chosen by the buyer. The price also depends on the planning and the period of purchase. For example, a standard hotel room-studio with an area of 31 square meters, valued at $ 52,449 in April 2022. The next price increase is expected from May 15.
Continuous work is underway at the facility. 4 floors were built in March. You can learn about the progress of the construction from the weekly report of the company, as well as through the official webpage of the company you can follow the current construction in real time. Here you can have access to the price of the available hotel rooms for sale Part of the hotel rooms were sold in 2021.
In order to maintain a favorable tourist climate, private investors can recover their investments in the region fairly quickly. According to the report made by one of the international companies in Georgia, the annual income is 16%, and the return is 7 years.
NEXT GROUP can also assist the owner in selling his property upon the owner`s request, or can redeem the property from the owner at a starting price + 7% for each year of ownership. Several deals have already been made in connection with the redemption of the apartments that were sold in 2021.
The buyer receives a hotel room on a turnkey basis for personal rest and further residential purposes. The unified design is created in accordance with Wyndham modern standards.
The given real estate can be transferred by inheritance, as well as by sale to third parties.
The complex will be served by a world-renowned management company.
A special place in the project is occupied by the casino, which will be the only one in this part of the city. WYNDHAM Garden Hotel will be built in the same area, which will house a casino and separate banks. The main players in local casinos are tourists from Turkey and Israel. Casinos are banned in these countries. According to the official data of 2021, 200 thousand tourists came to Turkey from Adjara region and about the same number came from Israel.
Due to the uniqueness of the project, the developer company poses higher demands on it. For example, in order to ensure the maximum seismic stability of a building, it is constructed on a piled foundation, which is not a common practice in a given area. The whole building as well as all the rooms will be insured by one of the insurance companies within 10 years from the date of its commissioning.
NEXT GROUP also studied the energy supply of Batumi. According to the reports, the electricity, heat and water resources in Gonio are sufficient for 10 years.
The project provides for 2 parking lots - one at a height of 57 meters and the other underground, for about 70 cars. The above ground parking will be free. A 250-square-meter swimming pool equipped with a water heating system will be put into operation this summer.
The peculiarity of the present project is a complete, ready-made infrastructure at the time of its commissioning. Nowhere in other projects in Batumi the infrastructure is brought to such a level. The owners of such residences will have to live on the construction site for some time.
WYNDHAM RESIDENCE BATUMI has a reception area of 250 m², which can arouse the feeling of envy in most hotels in Batumi. The reception area will be on full alert in September this year.
In the coming years, WYNDHAM RESIDENCE BATUMI and WYNDHAM Garden will organically merge with Batumi's festive infrastructure to create a single promenade. By 2026, a bridge is planned to be built that will connect the promenade from Gonio to the city center, and then continue to the Turkish border.
Giorgi Zhgenti also shared the plans of the company. If NEXT GROUP used to build ordinary apartments, now it is building only branded residences.
The company owns 10000 m² of land on the territory of Georgia, on which it It is planned to be built residences of 4 international brands, currently negotiating with their owners.
According to the company plans, the construction of WYNDHAM RESIDENCE BATUMI will be completed in 2024.