Batumi Downtown, Old Town

Batumi Downtown plants itself in the Old Town, the historic core where the city began — cobbled lanes, restored façades and the kind of year-round footfall that a beachfront block can never match out of season. This is the most central, and the most premium, address in the Next line-up, aimed at buyers who value position and provenance over square metres.

The scheme is tightly drawn: efficient studios from around 30 square metres, one-bedroom apartments into the mid-fifties, and two-bedroom homes reaching the high eighties, all handed over as a white box ready to fit out. Ceilings rise to 3.2 metres, suiting the loft-style conversions that the Old Town setting invites.

What sets it apart commercially is timing. Construction is already scheduled to start in mid-2026 with handover the following year, so the payment runway is short and the instalments correspondingly larger — this is a near-term completion rather than a long off-plan hold. Georgia imposes no restriction on foreign freehold ownership, and prime Old Town stock is, by definition, scarce.

The address is Revaz Makhidze 1, on the most prestigious street in old Batumi and within a short walk of the city’s landmarks: roughly two minutes from Batumi Piazza and the Yacht Club, five minutes from Europe Square and seven from the seafront Boulevard. The design is built around heritage rather than over it — the original 1888 façade is preserved and forms the core of the new building, with a contemporary glazed structure rising behind and above it.

This is a deliberately boutique scheme: just 17 apartments across the upper floors, a scale that keeps the building intimate where most of the coast is given over to towers of several hundred units. The ground floor is given to street life — premium boutiques, cafes and contemporary office space — and residents share a landscaped roof terrace laid out for relaxation above the Old Town rooftops.

Studios open from $161,460 and the largest two-bedroom homes reach $515,070. A representative structure is 20% down, the balance carried interest-free across the short build, with completion scheduled for 2027.

Return on investment: the developer’s own ROI model runs income net of a 40% brand-management fee, a service charge and a 5% tax. On that basis a 30.2 m² studio is modelled to average a 10.55% annual return over the first ten years — a cumulative $179,109, or about 101% of the purchase price — while a 48.1 m² one-bedroom averages 10.52% a year (roughly $286,031, 101% of price) and a 70.7 m² two-bedroom averages 10.62% a year (about $423,929, 102% of price) over the decade. In each case the modelled net yield starts in the 5–6% range in the first full year and climbs past 13% by the mid-2030s as occupancy rises from the low 60s towards the 90s and the average daily room rate increases year on year. These are the developer’s projections rather than guaranteed figures, and actual returns will depend on room rates and occupancy.