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MARDI

The family group that builds, and then runs what it built

Mardi Holding

Q: What has Mardi actually completed?

16 projects since 2010, in Batumi, Tbilisi and Bakuriani, and over 5,000 apartments across more than 300,000 m². The buildings are named individually on the company's own record rather than given as a round total, so each one can be identified and visited.

Q: What happens after I get the keys?

Mardi Comfort, the group's own management arm, handles maintenance, rental management, guest and tenant service and owner reporting, with occupancy, income and expenses visible online around the clock. It already runs the apart-hotel floors at Mardi Stadium. Travel Lab, the group's travel arm, builds tour products and source-market partnerships that bring guests to Mardi-managed inventory rather than relying only on booking platforms.

Q: Where does Mardi build?

Mainly in Batumi and along the Adjara coast, with completed projects also in Tbilisi and the mountain resort of Bakuriani. Every currently active project is in Batumi and its surroundings. The company sells from Batumi and from offices in Dubai, Lebanon, Bahrain and Turkey.

Mardi Holding began in January 1991 as a family trading business and moved into development in 2010. Thirty-five years on it has completed 16 projects in Batumi, Tbilisi and Bakuriani, and built over 5,000 apartments across more than 300,000 m². What separates it from most Georgian developers is what happens after handover: its live Batumi projects carry three separate Accor brands, and the management, travel and service companies behind them belong to the group. The same holding that pours the concrete runs the hotel, lets the apartment and greets the guest.

Founded 1991 Founder Irakli Turmanidze HQ Egnate Ninoshvili Street 2, Batumi, Georgia

1991

In business since

5,000+

Apartments delivered

Accor brands in Batumi

THE TRACK RECORD

Mardi Holding's record.

Mardi did not arrive in property from nowhere. The family business traded from 1991, moved into precision woodworking in 2001 producing walnut blanks and gun stocks for Beretta, Benelli and Anschütz, and added tobacco, logistics, wine and a furniture plant before the first apartment sold. That is an unusual foundation for a developer and it shows in the group today: manufacturing discipline, export-grade quality control, and an operating business behind the construction rather than only a sales office. The group also finishes buildings other developers could not. Mardi City Center was acquired after its original developer hit financial difficulty, and the company worked through the inherited legal and construction problems before relaunching it; its record contains four such acquisitions.

Delivery record

The record is fourteen years of continuous delivery in Batumi, Tbilisi and the mountain resort of Bakuriani, and the buildings are there to visit: Mardi House, House Near Piazza, House on Parnavaz Mepe, House on Saburtalo, Modern House (2016), Mardi Red Line (2016), Nova House (2016), Grand House Batumi, Mardi Mon Blanc (2017), Mardi Twins (2018), Mardi Bakuriani (2018), Corner Yard (2019), Hotel Montana, Grand House Tbilisi (2020), House on Bagrationi and Office Near Piazza.

Years active

35 years in business, developing since 2010. 16 completed real-estate projects and over 5,000 apartments.

Financial strength

The property arm sits inside a diversified group: manufacturing, wine, tobacco, logistics and energy, alongside Mardi Comfort for property management, Travel Lab for tourism demand and Mardi Capital for investment. The group also runs a UAE arm, ZAM Prime Properties, from Business Bay in Dubai.

Founded1991

FounderIrakli Turmanidze

HQEgnate Ninoshvili Street 2, Batumi, Georgia

TypePrivate, family-owned group

Active projects5

Entry pricefrom 38,357USD

SIGNATURE COMMUNITIES

Mardi Holding flagship destinations.

Accor branded residences

Novotel Living Batumi

341 turnkey apartments on Iberia Street, about 40 metres from a private beach, with a heated rooftop infinity pool, a Sky Bar and 24/7 food and beverage, and a spa and fitness floor on level two. Interiors by Sundukovy Sisters Studio. Owners take full freehold and Accor One Residence club status, and handover is set for the last quarter of 2027. Accor announced it in June 2023 as the brand's debut in Georgia.

Accor hotel, waterpark and residences

Mardi Aquapark by Mercure, Batumi

A hotel and waterpark resort under the Mercure brand at Makhinjauri, on the coast north of Batumi: apartments on floors 2 to 21 above a 20,000 m² landscaped podium with a waterpark, wellness centre, three restaurants and two bars, with the hotel itself on floors 23 to 30. Announced by Accor in December 2023, with Tower A and the wellness centre due in the last quarter of 2028 and the hotel opening in 2029.

Accor branded hotel

Mardi Batumi Hills, Handwritten Collection

Up the Kadir Shervashidze rise above Batumi, under Accor's Handwritten Collection, the line reserved for hotels with local character rather than a uniform template. Accor announced it in November 2023 as the first Handwritten Collection hotel in the South Caucasus.

Residential and retail

Mardi City Center

Three 20-floor residential blocks on Pushkin and Sulaberidze streets, with a four-level mall in the podium that is already trading, and underground parking. 500 metres from the sea, and a building Mardi took over and finished after its original developer stalled.

WHAT SETS THEM APART

What makes Mardi Holding special.

Property types Branded hotel residencesApartmentsMixed-use complexesHotels

Price segment Mid to upper-mid

Signature style

The current portfolio is built around one idea: an apartment that is also a hotel room. Three of the five live projects carry an Accor brand, which brings to a Georgian coast where almost all stock is unbranded a set of things it has not had: design review, engineering and fire-safety standards, pre-opening systems and international distribution. In that arrangement Mardi and its project companies remain the developer; Accor supplies the brand and the hospitality systems. The group also creates its own demand rather than renting it: Travel Lab, its in-house travel arm, builds tour products and source-market partnerships that route guests to Mardi-managed inventory, and Mardi Comfort handles maintenance, letting, guest service and owner reporting with occupancy, income and expenses visible online around the clock.

Payment plans

Payment terms are set per project and confirmed in that project's documents. Mardi City Center, for example, sells on 30% down with the balance interest-free across the remaining construction period.

THE HONEST VIEW

Strengths & considerations.

Where Mardi Holding shines

16 completed projects and over 5,000 apartments delivered across three Georgian cities
Three separate Accor agreements for Batumi, each announced by Accor itself across seven months of 2023
Brand debuts rather than licences: Novotel Living's first in Georgia, and the first Handwritten Collection hotel in the South Caucasus
Management, travel and service companies inside the group, so the relationship does not end at handover
A documented ability to take over and finish stalled buildings, which is a different capability from greenfield development
Full freehold ownership registered in the public registry, foreign buyers included
A diversified group behind the developer: manufacturing, wine, tobacco, logistics and energy

Worth considering

The long pipeline of roughly 4,000 units over four to eight years is a stated plan, not built stock
The brand and operator are set per project and confirmed in that project's documents
Mardi Stadium is complete; the other Batumi projects are still under construction, each with its own handover date

5 ACTIVE PROJECTS

All projects by Mardi Holding.

Live from the catalog — sorted cheapest first. Click any card for the full property page.

OFF-PLAN

Batumi Seafront · Batumi

GOOD TO KNOW

Common questions about Mardi Holding.

Who is Mardi Holding?+

A family-owned Georgian business group. The family business began in January 1991 in trade and manufacturing, and Irakli Turmanidze, the founder and chief executive, launched the real-estate arm in 2010. Turmanidze read international law, studied in the United States and the United Kingdom, and worked in the legal department of the Georgian Parliament before running businesses. HRH Prince Juan Bagration-Mukhrani, of the historic Georgian Bagrationi dynasty, is Managing Partner and brand ambassador, with a remit covering new markets, investor relationships and public relations.

What has Mardi actually completed?+

16 projects since 2010, in Batumi, Tbilisi and Bakuriani, and over 5,000 apartments across more than 300,000 m². The buildings are named individually on the company's own record rather than given as a round total, so each one can be identified and visited.

What does Accor do in these projects?+

Accor supplies the brand and the hospitality systems; Mardi and its project companies remain the developer. Accor named Mardi in three separate announcements across 2023: Novotel Living Batumi in June, Handwritten Collection Batumi in November and Mercure Batumi in December, describing Mardi as one of Georgia's largest development companies. A brand agreement adds technical standards, design review, pre-opening systems, operating discipline, distribution and loyalty-programme access.

What does the group do besides building?+

Precision woodworking and furniture manufacture, wine, tobacco, logistics and energy, alongside Mardi Comfort for property management, Travel Lab for tourism demand and Mardi Capital for investment. Since 2001 the group's Imeri plant has produced walnut blanks and gun stocks for Beretta, Benelli and Anschütz, and since November 2017 it has owned the Adjarian Wine House, a working winery and hospitality destination known for its Porto Franco Chkhaveri rosé.

What happens after I get the keys?+

Mardi Comfort, the group's own management arm, handles maintenance, rental management, guest and tenant service and owner reporting, with occupancy, income and expenses visible online around the clock. It already runs the apart-hotel floors at Mardi Stadium. Travel Lab, the group's travel arm, builds tour products and source-market partnerships that bring guests to Mardi-managed inventory rather than relying only on booking platforms.

Where does Mardi build?+

Mainly in Batumi and along the Adjara coast, with completed projects also in Tbilisi and the mountain resort of Bakuriani. Every currently active project is in Batumi and its surroundings. The company sells from Batumi and from offices in Dubai, Lebanon, Bahrain and Turkey.

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