The rhythm of modern life has completely changed the environment around us. Modern cities are characterized by a high level of urbanization and dense population, and our capital, Tbilisi, is no exception. With the emergence of recreational spaces and the improvement of the living environment, the prestige of a number of districts in Tbilisi is changing. Modern life is characterized by an accelerated pace, noise and tension, especially in a city whose population exceeds one million. Therefore, it is important to have a house that is distinguished by its coziness and pleasant environment, where you will be calm and protected from negative influences as much as possible.

That is why "Solum Development" creates a modern, quiet and comfortable residence for you in Fonichala, which gives you opportunities for a harmonious life. The residential complex is being built on 8015 sq.m. land, it includes two buildings, which combine 16447.1 sq.m. residential and commercial space. The construction was divided into two stages. In the first stage, in April 2023, we started the construction of block A, the pre-sales of which started a month earlier, in April. The project has 302 residential and commercial spaces and 121 garages. According to the general plan and dendro project, 1 (one) stadium, green space, lighting, benches, trash cans and plants will be planted.

The construction is being carried out according to the plan-schedule, the works are performed by an experienced construction team, which is strictly supervised by the experienced technical team of the company. The construction process is carried out in full compliance with the requirements of labor safety and construction standards, which in itself excludes the suspension of the construction process for this reason. As of April 2024, the monolith works up to and including the 9th floor have been completed and Block A will be handed over on June 30, 2025.

Real estate market

In 2023, sales of apartments by developers increased by 4.2% annually, underscoring the steady demand in Tbilisi's real estate market. Almost all apartments from the projects completed in 2024, and almost half of the total apartments in the projects completed in 2026-28 have been sold. According to the current trend in the real estate market, the sales rate of our project is increasing, as of April 2024, 82% of the apartments in Block A have already been sold, and only 30 apartments remain.

Market size and prices

From 2023 to April 2024, according to the investment research data of "Galt & Taggart", 49,452 apartments were sold in Tbilisi. The value of the existing property is 3.6 billion USD, which is due to increased transactions and price increases in the primary market. Based on the data of 2023, apartments for sale in Tbilisi The minimum price per square meter is fixed at 2400 GEL. In January, February and March of 2024, the dynamics of the apartment price increase is maintained, which is 0.4% monthly and 15.1% annual increase Along with the change of project stages, the price also increased in two stages, in the first stage it became 2005 GEL, then it became 2060 GEL, which is due to:

• After the completion of 50% of the sales and/or construction process of the total number of apartments in the building, the value increased by 9%;
• Selling 80%/building with 12%;
• As the completion phase of the project approaches, the square meter will increase.

For "Solum Development" it is important to create guarantees of comfort and safety for the user. Therefore, we create every detail with maximum consideration of the user's interests, which has become an advantage for us today:

• Flexible payment schedule;
• Affordable price;
• Closeness to nature;
• Infrastructure;
• Healthy relationship with the customer;
• Compliance with construction regulations and standards.

For "Solum Development", along with quality, the customer's desire is very important, so we try to create the most comfortable housing, which will be adjusted to your daily life style and will help you create pleasant memories. Pre-sales of Block B of Ponichala have started, you can choose the desired apartment and enjoy 36 months interest-free installments. Today, living in a "Solum Development" apartment is a feeling of coziness, security and happiness.