Oriental, Tbilisi Ortachala

Oriental rises in Ortachala, the southern riverside district of Tbilisi where the Mtkvari curves below the Old Town — historically the city’s caravanserai quarter, and today a quieter, greener pocket of the centre that is steadily being rediscovered. It is close enough to the historic core to share its draw, far enough out to keep entry prices well below the Old Town premium.

The building runs from mountain-view studios of around 37 square metres, through one-bedroom apartments into the low sixties, up to two-bedroom homes reaching the high hundreds of square metres. Each layout is offered either as a white-box shell or in a renovated, move-in finish, with ceilings rising to 3.7 metres and on-site parking available as a paid add-on.

The commercial appeal is a low capital entry in the capital paired with a long, interest-free runway across construction. Georgia welcomes foreign buyers on full freehold terms with no nationality restriction, and central Tbilisi’s rental market runs through the year rather than only in the summer season.

Studios open from $83,900, with one- and two-bedroom homes and their renovated tiers rising from there. A representative structure is 20% down on signing, 40% in interest-free instalments through the build, and the remaining 40% on completion.

Conceived by the developer NEXT under the line “a new symbol of old Tbilisi”, Oriental is planned as more than an apartment tower — it is a mixed-use riverside landmark designed to link the old city centre with Ortachala’s emerging residential and business quarter. Behind a sculptural façade of exposed concrete, perforated metal screens, stone-inspired finishes and full-height glass, the building is engineered as a high-tech residential complex with smart-home systems and energy-efficient solutions, its planted balcony terraces stepping up the riverfront elevation. The ground floor opens to street-level retail and a Georgian restaurant, with the upper floors wrapped in landscaped, garden-style communal space.

Residents share a hospitality-grade run of amenities rather than a bare lobby: an elegant reception, a fitness centre, a yoga studio, a spa treatment and relaxing room, a landscaped garden and on-site offices for those who work from the building. The complex is run as a serviced address, with the developer’s management company offering 24/7 concierge, private-chef service, security and valet parking, full property maintenance and cleaning and laundry — so an owner can let the apartment through a managed rental programme or simply lock up and leave. Homes are now offered at the project’s pre-sale stage; Georgia places no nationality restriction on freehold ownership, and a real-estate purchase at or above USD 150,000 (the threshold effective 1 March 2026) can support a residence-permit application.

Return on investment: because the apartments are intended to let through the developer’s managed rental programme, NEXT models income net of a 40% brand fee, an annual per-square-metre service charge and a 20% tax on rental income. On its analysis, a turnkey 36.8 m² studio bought at $112,976 averages a 12.37% annual return over the first ten years — a cumulative $132,570, or about 117% of the purchase price across the decade. Forecast occupancy climbs from roughly 54% at opening in 2029 to about 84% by 2038 (a 73.2% ten-year average), while the average daily rate rises from $85 to $126 over the same period, lifting the net yield from around 6% in the first full year into the mid-teens as the building matures. These are the developer’s projections rather than guaranteed figures, and actual returns will depend on room rates and occupancy.