Opening of the first outlet at the crossroads of East and West on track for Spring 2023
9 September, 2021– Work has begun onsite at Tbilisi Outlet Village, a 20.000 square meter GLA development just outside the capital of Georgia. The very first outlet in the region, it is developed by Georgian Outlets & Resort Group (GORG) in close collaboration with TORG International. The opening of Phase 1, consisting of 12,500 square meters and 70 units, is well on track for spring 2023.
The official groundbreaking ceremony took place on 8th September and was hosted by the Government of Georgia in the presence of Prime Minister Irakli Garibashvili.
Tbilisi Outlet Village, a destination that is projected to create up to 2,000 full and part time jobs upon completion, will be a major contribution to the local economy and engaging many local parties already well before opening.
It is expected to attract more than 7 million visitors in its first three years alone including a significant number of cross-border travelers from Azerbaijan, Armenia, Russia and Turkey. The outlet’s location is particularly well suited – just 30 minutes south east of the capital and directly on the busy E60 motorway. It benefits from a strong catchment made up of Tbilisi’s 1.4 million resident population in a country of close to 4 million people.
Financed by the Domus Group with the support of TBC Bank, one of Georgia’s leading banks, it is a strategically important project for Georgia’s national economy, especially in the post-pandemic period.
Guram Tsanava, Founding Partner of GORG, said: “Weareproudtobebuildingwhatwillbetheveryfirstoutletvillageinthisregion.It is an initiative that we have been working on for 5 years and its implementation would not have been possible without the active support of the Government of Georgia and TORG International, for which we are grateful. Itis also the result of a close collaboration between L35 – one of Europe’s leading architectural firms who designed outletslike La Roca and Las Rozas in Spain – and our local construction team, the Domus Group.”
Tbilisi Outlet Village will play an important role in the growth of Georgian tourism offering a world-class shopping experience to international visitors attracted by the culture, history, cuisine or wine, thus extending their stay in Georgia and increasing tourist expenses.
Barbara Horatz, Partner at TORG, added: “The outlet sector has proven to be resilient, both before and coming out of the pandemic. As we have observed over the years – outlets do good in good times and even better in bad times. Tbilisi Outlet Village will not only create a memorable, but also a safe shopping experience with its open-air design and feel-good atmosphere. We are proud to be 50% percent signed at this point, including a hostofhigh-end,internationalbrands. This is confirming thereputationofTbilisiasthefashioncapitalofEasternEuropeand oneofthe top emerging countries.”
Tbilisi Outlet Village will bring together the most exciting international and Georgian brands across a total of 110 carefully curated stores, representing 20,000 square meters of GLA, built in 2 phases. The architects, Barcelona-based L35, have designed Tbilisi Outlet Village as a fusion between tradition and modernity, re-interpreting the historic city’s traditional facades and courtyards whilst bringing in iconic contemporary shopfronts. A strong gastronomic offer will be of particular focus given the country’s food culture and its 8000-year-old history in winemaking.
For more information about Tbilisi Outlet Village, please visit tbilisioutletvillage.com.
About TORG International:
TORG International is one the fastest growing global outlet development groups. It is the only alliance of professionals that delivers a truly comprehensive approach to outlets on a worldwide scale. The team aspires to create the world’s best outlet centres from the ground up focusing on non-saturated and emerging markets with yet untapped potential.
TORG’s breadth of knowledge spans from international retail expertise, project development, financing, marketing, leasing and asset management to centre operations. TORG has been part of the outlet industry ever since it emerged in the US and Europe. All team members have extensive experience with international market leaders. TORG understands the local culture and demands for any given country and is able to translate this into all aspects of development – from the initial design and positioning to the appropriate merchandising mix and leasing approach. TORG is in charge of development, leasing and future management of Tbilisi Outlet Village.
Barbara Horatz TORG Europe
Partner Marketing & Retail email@example.com
+49 175 34 27261
About Georgian Outlets & Resort Group:
Founded in 2018, Georgian Outlets & Resort Group is led by a number of prominent Georgian entrepreneurs including Guram Tsanava, Sandro Kordzakhia, Baadur Urushadze, George Giorgadze and Aleksandre Shaishmelashvili.
About Domus Group:
Founded in 2006, Domus has quickly established itself as the leading development and construction group and one of the most prominent real estate groups in Georgia. Based in Tbilisi, its portfolio today includes some of the most prestigious residential, hotel, office as well as commercial real estate projects. The group has a diversified portfolio of various leading companies including real estate development, construction, manufacturing and distribution of construction materials as well as design and architectural agencies.
Guram Tsanava, the project’s initiator, is a seasoned executive, entrepreneur and business strategist with over 20 years of diversified, functional and industrial experience and a solid track record of managing large holding companies and nurturing new ventures. He was a CEO and a Senior Executive of the two largest holding companies in Georgia (both in Top 20), Georgian Industrial Group Holding and RAKIA Georgia. He also oversaw the management of the largest shopping mall in Georgia, Tbilisi Mall and one of the most recognized hotels Sheraton Metekhi Palace. Guram has ownership stakes in various successful companies in the pharma, coffee, retail, fashion, real estate and other industries. He is a member of prominent business associations as well as a board member on a number of leading private companies. An alumni of Stanford Graduate School of Business, he is also a professor of Strategy at Caucasus University and at Grenoble Graduate School of Business.