The development company “m² Real Estate” has declared about one of the biggest Franchising Agreements. According to the Agreement, “m² Real Estate” will build and develop residential complexes with 3 600 apartments in it under its brand, on the land owned by “Georgian Retail Centers LLC”. As a result of this Agreement, “m² Real Estate” will construct residential area on 190 000 square meters on Kakheti highway in Tbilisi. The project consists of ten stages and the work process will last from four to five years.

The aforementioned Franchising Agreement is an important step towards construction of residential complexes. It also represents a strategic approach of m² - building hotels in Georgia. At present, m² has 3 hotel projects in the project-construction phase, which comprise 400 rooms in total. In the next 2 years, the number of hotel rooms is expected to increase up to thousand.

“I would like to congratulate the whole team of the company with the successful signing of one of the biggest Franchising Agreements. m² has been operating on Georgian construction market for ten years and as a result of successful projects, it enjoys great trust in both business and consumer sectors. It is noteworthy that the main part of our strategy, together with the construction of residential complexes, is the construction of hotels. We believe that the development of the hotel sector in Georgia will actively promote tourism business, which is one of the important preconditions for the development of the country's economy. The company “m² Real Estate” will be actively represented in the hotels sector, we have planned to build several hotels in the next 2 years, with the total number of rooms up to 1000,” said General Director of m² Irakli Burdiladze.