Old City Panorama

Old City Panorama is an exciting project for either those looking to invest in exclusive rental properties that are sure to be in high demand with tenants — both short-term or long-term — or just as a super-luxury home for themselves.

The project occupies an ideal location on the right-side of the river, located on the borders of Chughureti and Avlabari.  There is a road leading straight down to the river less than 200m from the project.  This location means that it is possible to walk to either the Old Town or the pedestrianized part of David Aghmashenebeli Street in less than 20 minutes.  But what makes Old City Panorama really special is the views that come from the vast majority of apartments here, which have perfect views over the Old Town and Mtatsaminda Hill.  Please scroll through the pictures above in order to see how beautiful the views are.

Old City Panorama is being constructed in two separate phases.  Scheduled for completion in December 2022, Phase One of the project is truly exclusive, comprising just 40 apartments spread across three separate low-rise buildings, each of seven or eight floors.  The architecture of the project is magnificent, combining historic Georgian designs with large wooden balconies together with more modern elements of brick, glass and steel.

Phase Two of the project will follow the same styles as Phase One, but covers a larger area.  The buildings here are five storeys high.  Construction of Phase Two began in August 2022 and is scheduled for completion in December 2024.

Apart from the excellent location and stunning views, the other major factor which makes Old City Panorama truly unique are the facilities that are on offer to guests and residents of the project.  As you would expect to find in a luxurious boutique hotel, the project has 24/7 security and a concierge service.  There will be an on-site restaurant offering room service to all apartments.  The project contains two outdoor swimming pools.  There is a large, 18x8m2, pool and a smaller plunge pool, which means that you can enjoy the views while you swim.  Inside the project is a fully-equipped fitness centre plus a spa centre.  Parking spaces at the project are available for an additional cost of $20,000, with an optional car wash service available.

Despite the high level of amenities here, buyers need not worry about high maintenance fees as they will be a maximum of GEL 2 ($0.60) per m2 per month.  For those services such as the spa centre and food from the restaurants, owners will be able to enjoy good discounts in the region of 70% from standard prices..

Such has been the success of Old City Panorama that there are now very few apartments remaining on Phase One of the project. The remaining apartments in Phase One with the perfect views of the Old Town are now larger sizes in the region of 90-130m2.  Prices in Phase One are in the region of $2500 to $3000 per m2.  $3000 per m2 is the price for apartments with views of the Old Town, while $2500 per m2 is the price for rear-facing apartments.

With Phase Two having launched more recently, here there is a much wider selection of apartments remaining, starting from around 50m2.  Apartments located on the second and third floors are priced at $2200 per m2, while apartments on the fourth floor are priced at $2500 per m2

Prices here are for apartments delivered in ‘green frame’ condition, which means that they come with bare concrete walls, floors, ceilings, no bathrooms, etc.  As a result, buyers should budget a minimum of $250 per m2 to make the finishing of their apartments.

The payment plan for the project is the standard one for Tbilisi, which is 30% on contract, with the remaining 70% over the course of the build in equal monthly installments.

No other project which is as centrally located as Old City Panorama offers such spectacular views or this level of facilities, making this a totally unique investment opportunity.  With smaller sizes of apartments in Phase One selling through so quickly, those interested in the smaller apartments in Phase Two should act quickly in order to secure the best remaining units.

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