Tbilisi, May 17, 2023 - One of the industry leaders in Tbilisi's residential real estate sector, the development business White Square, which is known for its unique projects, successfully placed a new financial instrument in the amount of one million USD with the assistance of Velox Capital Advisor. The money raised will be used for the White Square premium line project Filigreen, which is now under construction at Giorgi Danelia Str. 12, Tbilisi. The 2-year syndicated loan, which is due at the conclusion of the term, will provide the company with more cash flow flexibility, allowing it to increase the pace of construction and complete the project more swiftly. The innovation is the opportunity to purchase apartments at a fixed price, which is part of the financial instrument and allows the investor to enhance its assets further.
"We are pleased to introduce a new financial instrument on the real estate market, which has piqued the interest of investors."Access to financing continues to be one of the most difficult aspects of doing business in Georgia, thus such financial instruments enable us to access new sources of financing and diversify cash flows. This, in and of itself, has a favorable impact on the pace of project building," said Irakli Burdiladze, managing partner of White Square.
Project Filigreen is a small-scale premium-line residential complex with 80 apartments, approximately 2,000 m2 of recreational space, a swimming pool, tennis courts, a stadium, and fitness. The project is now under construction and is expected to be completed in May of next year.
"It is extremely gratifying that we have been given the opportunity to launch a new financial instrument on the real estate market in collaboration with White Square, which allows investors to profitably invest their free funds in real estate development, which is one of the most important sectors of the Georgian economy. An alternative means of investing investors' money appears on the market with this type of financial instrument, which will have a positive impact on the growth of economic activity," said Ramaz Kukuladze, director of Velox Capital Advisors.
White Square is a premier development business in Georgia, led by a team with 13 years of real estate experience. This group has completed a number of successful development projects throughout the country. White Square is noted for its continual efforts to provide a comfortable, ecological, and energy-efficient living environment that meets the difficulties of modernity. Under the White Square brand, 6 residential developments are now being developed in Tbilisi.
Velox Capital Advisors is an investment and advisory firm created by a team with years of successful financial sector experience, providing customers with personalized services such as strategy planning, fundraising, risk management, and financial modeling. The company's approach extends beyond typical consulting services and is based on a thorough examination of the client's requirements, followed by the development of advice, consultation, and strategy adapted to the unique customers and their requirements.