Maqro Development: Redefining Practical Modern Housing in Georgia

Maqro Group has been successfully operating in the Georgian market across various sectors since 2013, and is associated with numerous significant projects. As part of the Maqro Group rebrand, three main directions were defined: Maqro Development, which focuses on development projects; Maqro Construction, which handles road construction and tenders; and Maqro Tourism, which develops hotels. Notably, Maqro Group has several prestigious tourism projects under its belt, including the Ibis Styles City Center hotel, a budget property of the leading international hospitality company Accor, as well as the Mercure Tbilisi Old Town and Swissotel Tbilisi.

The company's fundamental concept is straightforward yet crucial: to create environments where people feel comfortable, calm, and safe.

When discussing the portfolio of Maqro Development, the residential complexes Green Budapest and Green Diamond stand out, offering customers well-equipped living spaces and recreational areas. Green Budapest features approximately 350 apartments, while Green Diamond is an even larger and more

advanced project, comprising 1,688 residential apartments. Each complex fully meets modern European standards and the needs of contemporary lifestyles.

To discuss Maqro Development's vision and upcoming projects, Entrepreneur magazine spoke with Oguz Kaan Karaer, the company's Deputy General Manager.

Oguz Kaan Karaer: "Our company stands out due to several criteria that establish it as a leader in the industry. We have been innovators in various areas, especially with our focus on recreational spaces. In urban environments where housing is often in short supply, these areas are crucial. Our team is made up of professionals who understand exactly what modern individuals expect from their living spaces. We focus on creating the most practical and comfortable environment for our residents."

Green Budapest was one of the first residential complexes in Georgia to offer fully equipped apartments that feature a complete renovation, including kitchen and bathroom furniture, technical equipment, and accessories. Company applied the same approach to the Green Diamond project, located in Dighomi, near the Olympic Complex.

Oguz Kaan Karaer elaborates on this approach: "People can encounter numerous challenges when renovating an apartment due to lack of experience or time. Our company is staffed with professional architects and designers, allowing us to ensure that every detail of a resident's living environment is carefully composed. Of course, we also consider the buyer's preferences; they can choose wall colors and various design elements according to their taste."

Maqro Development's approach has resulted in positive feedback from its clients, who positively assess their enjoyment of environments where every functional and decorative detail is designed with their comfort in mind.

Constant communication with residents is a key driving force for the Maqro Development team in project development. As Karaer notes, this ongoing dialogue has allowed the company to refine and perfect details in each new project, bringing them closer to an ideal outcome. He says the key to a company's success is receiving and processing feedback effectively, and ensuring it is addressed appropriately.

Currently, Maqro Development has a number of new projects in the pipeline. Notably, there is an exciting new development planned for Batumi, which will extend the company's green concept and create a unique living space in Georgia's primary coastal city, but, when discussing the latest developments from Maqro Development, it is essential to highlight the new Tbilisi project, a significant and large-scale residential complex being built in Samgori, near the Ministry of Internal Affairs of Georgia. Set to feature approximately 4,000 apartments, it represents an extension of the Green Budapest and Green Diamond legacy, though it is markedly improved, more refined, and even more modern, Karaer says. The multifunctional residential complex is will be placed in a strategic location with a relaxing atmosphere. It promises future residents proximity to nature, clean air, and a safe environment, and boasts a plethora of facilities and services, among them swimming pools, outdoor sports fields, walking and running tracks, sports courts, terraces, indoor sports halls, and commercial spaces.

Unlike previous projects, the Samgori residential complex features additional amenities such as children's pools, an aqua park, a nursery school, tennis courts, and a commercial zone situated outside the perimeter. Several upgrades have been made to the residential apartments, including sliding doors and larger aluminum windows to provide better views.

Oguz Kaan Karaer tells us that the Samgori complex offers not only an excellent living environment, but also a promising investment opportunity.

"Prices in our complex rise only as the sales stages progress, a successful practice learned from our Green Budapest and Green Diamond projects. At Green Budapest, the initial price started at $700 per square meter, and was later increased to $1,500. Currently, the average value of this project on the secondary market is between $2,500 and $2,750 per square meter. Similarly, with Green Diamond, we began with a price of $700 per square meter, which was raised to $1,350. Today, the average price is around $1,500 per square meter. The offering is simple: early buyers can purchase apartments at lower prices, with the assurance that the value of their investment will increase significantly in the near future," he says.

The initial sales phase of Maqro Development's Samgori project is already underway, offering prospective buyers the chance to secure prime housing at competitive prices. Notably, during its first sales stage, Maqro Development offers only those loyal customers who already own property in the company's residential complexes the exclusive opportunity to buy apartments in Samgori.

In this way, Maqro Development's exceptional customer relations ensure that every resident becomes a partner of this reliable and reputable company.