Elguja Turmanidze is the Founder of ELT Group and Chairman of the International Investment & Finance Committee of Business Chamber of Asian & Gulf Countries (BCAGC). A visionary entrepreneur, he has made a lasting impact on Georgia’s economy by building one of the country’s leading financial institutions, expanding into large-scale real estate projects such as ELT Quarter in Batumi and the Spanish Quarter in Tbilisi, and introducing world-class hospitality brands like Barceló Hotel Group and Wyndham Hotels & Resorts to Georgia. Beyond business, he is a strong advocate for youth development, investing in programs that promote education, healthy lifestyles, and career opportunities for the next generation of Georgian leaders.
Georgia’s Rising Real Estate Appeal
We started the interview by asking, “Mr. Turmanidze, Georgia is increasingly appearing on the radar of international investors. What makes your country so attractive for real estate investment right now?
Elguja Turmanidze replied, “Georgia’s advantages start with geography. We sit at the natural crossroads of Europe and Asia, on the eastern shore of the Black Sea. This location creates the shortest transit route between Western Europe and Central Asia, and it makes Georgia a true gateway for trade, tourism, and investment.
Tbilisi, our capital, blends centuries of history with a rapidly modernizing skyline. Meanwhile, Batumi—our vibrant seaside city—has become one of the fastest-growing tourism and premium real-estate destinations in the entire region. Investors looking for long-term opportunity find both cities compelling for different reasons: Tbilisi for its cosmopolitan business climate and Batumi for its booming resort market.”
Georgia’s Business Climate on the Global Stage
Geography is certainly a strength, but many investors look first at the business environment. How does Georgia compare globally
Elguja Turmanidze replied, “We have worked very hard over the past two decades to create a pro-business, transparent economy. International rankings tell the story.
The World Bank consistently places Georgia among the top performers for Ease of Doing Business—we are ranked 7th globally. Our effective total tax rate is just under 10%, which is among the lowest in the world. And we are regularly recognized as one of the most economically free countries in our region.
For real estate investors, this translates into simple, predictable rules. Property registration is efficient and fully transparent. Foreign buyers can purchase non-agricultural real estate on a freehold basis with exactly the same rights as Georgian citizens. And if you hold a property for more than two years, there is no capital-gains tax on the sale. That is a huge advantage.”
Taxation and Investor Appeal in Georgia
Many people talk about taxation as a deciding factor. How investor-friendly is Georgia’s tax system
Elguja Turmanidze replied, “Extremely friendly. Corporate income tax is a flat 15%, but—this is important—it is only applied when profits are distributed. That means you can reinvest profits tax-free. There are no wealth or inheritance taxes on private property.
For small enterprises or individuals who qualify, micro-business regimes can lower the effective tax rate to as little as 1%. And a property investment of $300,000 or more allows a foreign investor to obtain a residence permit. This combination of low taxes and straightforward residency rules is rare, even in Europe.”
Current Real Estate Trends
Let’s talk specifically about real estate. What trends are you seeing in the market today
Elguja Turmanidze replied, “The market fundamentals are exceptional. Georgia’s economy continues to expand—GDP growth for 2025 is projected around 5 to 5.5 percent. Tourism has rebounded strongly after the pandemic, bringing millions of inbound visitors each year. This surge, combined with a steady inflow of foreign residents, keeps vacancy rates low and rental demand high.
Property prices in key markets like Tbilisi and Batumi have risen by an average of 15–20 percent annually in recent years. Nationwide, gross rental yields are around 8 percent, but in premium seaside or branded aparthotel units we often see 10–12 percent. For investors seeking USD-linked income and capital appreciation, that is very competitive.
It is no surprise that real estate consistently ranks among the top three sectors for foreign direct investment. In 2024 alone, real-estate activities attracted over $230 million in FDI.”
The Case for Acting Now
Why should investors consider acting now rather than waiting a few years
Elguja Turmanidze replied, “Timing is crucial. We are in a sweet spot: a stable, reform-minded government, continuous infrastructure upgrades, and strong tourism growth. Investors who enter today can capture both the immediate rental yields and the medium-term capital appreciation.
Georgia offers what I call the “rare blend”: high net yields, low entry barriers, and legal clarity. Our regulations are transparent, our property rights are equal for foreigners and locals, and our tax regime encourages reinvestment. In a world where volatility is high, Georgian real estate provides a hard-asset hedge with strong USD-linked returns.”
ELT Group’s Market Impact
You founded ELT Group to help investors take advantage of these opportunities. What is your company’s role in this market?
Elguja Turmanidze replied, “ELT Group specializes in turnkey, professionally managed residential and aparthotel projects in Tbilisi and Batumi. Our concept is simple: investors should be able to purchase a fully furnished apartment and start earning from day one, with management handled by international operators.
We currently manage and develop several large projects, from branded hotels to premium residential complexes. Our clients are diverse—European, Middle Eastern, Asian investors—and they all value the same things: transparency, strong yields, and a hassle-free ownership experience.”
Message to Future Investors
Finally, what message would you give to someone considering Georgia for their next investment?
“I would say this: Georgia is not just another emerging market. It is a country that has combined strategic geography with smart economic reforms and a welcoming investment climate. Whether you are looking for capital appreciation, stable rental income, or a second residence in a dynamic environment, Georgia offers a unique balance of risk and reward.
Now is the time to secure your foothold. Real estate here is not only a profitable asset; it is a gateway to a vibrant, growing economy at the crossroads of Europe and Asia. Investors who act today will look back in a few years and know they made the right move.” Elguja Turmanidze concluded
Connect with Elguja Turmanidze on LinkedIn
For more information visit ELT Group
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