Construction of Cipriani Batumi begins: Venetian brand comes to Georgia with Orbi and Block Group

What is known

• Developers: Orbi Group and Block Group.
• Cipriani was founded in Venice in 1931 and is present in 19 cities, including New York, London, Monte Carlo, Dubai and Miami.
• Ronaldinho became the first owner of a residence and received a symbolic key.
• Price, size and completion date have not been announced.

According to the government press office, Kobakhidze said the arrival of a brand of this scale sets a new bar for hospitality and premium real estate and shows that Georgia is attractive for foreign investors. He said the two companies have invested more than $5 billion in total and employ about 15,000 people.

Who spoke

Adjara government chairman Zurab Pataradze, Cipriani head Giuseppe Cipriani, Orbi Group general director Irakli Kverghelidze and Block Group managing partner Tornike Janashvili also spoke at the event.

Why it matters for buyers

Branded residences usually sell at a premium to ordinary new builds. Before buying, check the permit, the delivery schedule and the management terms in the contract. Read about Ronaldinho's visit in our earlier report.