Galleria Tbilisi attracts international brands at real estate exhibition in Cannes

Galleria Tbilisi will open in September 2017. Photo by the GCF., 24 Nov 2016 - 11:44, Tbilisi,Georgia

One of Georgia’s largest investment projects, Galleria Tbilisi, has been showcased at a global real estate exhibition in Cannes, France and has gained the interest of top international buyers.

MAPIC, commonly known as the international retail property trade show, hosted 8,000 participants including Georgia over three days of exhibition (November 16-18), conferences and networking events.

Managed through Tbilisi Plaza LLC, Galleria Tbilisi is a multi-functional shopping centre and is one of several investment projects of the Georgian Co-Investment Fund (GCF) in the hospitality and real estate sector. The facility is still being built but has already gained the interested of several international brands and companies.

At the Cannes real estate trade show, the GCF negotiated with international brands and raised awareness of the Georgian market, and in particular the Galleria Tbilisi project. 

An artist impression of Galleria Tbilisi, which will be located near Freedom Square. 

After the 2016 event the GCF said MAPIC 2016 had been "successful" and "several brands had become interested in the Galleria Tbilisi project”.

Already Galleria Tbilisi, which is still being built, was supported by international brands; the first international brand to open a store at the new Galleria Tbilisi will the Swedish fashion retailer H&M, that's famous for offering fashion-forward apparel at affordable prices.

H&M will open its first store in Georgia in 2017. The Swedish company became interested in Galleria Tbilisi last year when the investment project was presented at last year’s MAPIC exhibition.

To make Galleria Tbilisi the most attractive shopping destination for locals and visitors in Georgia, the GCF and Tbilisi Plaza LLC will continue working to attract more new retailers and offer them the opportunity to establish their presence in "one of the city’s most exclusive shopping districts", said the GCF.

An artist impression of Galleria Tbilisi shows the comlplex will have five floors and a range of facilities.

Galleria Tbilisi is currently being constructed and will open in September 2017 in central Tbilisi. The building site was formerly an abandoned Soviet-era building located in the centre of the city. Those involved in the project said the new shopping centre will reinvigorate Georgia’s capital, develop the local real estate and commercial market and encourage more tourists to the city.

The Galleria Tbilisi building is being completely rebuilt on the site of a building commonly known as the Univermagi building, which is located near Freedom Square. The building has remained empty for about eight years but was now being completely demolished and rebuilt into a modern shopping centre.

Renovation works at the new Galleria Tbilisi started in February 2016.