Mardi Holding

What Mardi Holding does

Mardi Holding is a Batumi, Georgia-headquartered real estate developer founded in 1991 (originally as LLC Imeri), operating with 251-500 employees across residential, commercial, and hotel property development. The company has delivered 17+ large-scale projects encompassing 5,000+ apartments and 300,000+ m², employing a domestically pioneered eco-friendly foam concrete construction method and partnerships with Accor Group for branded hospitality (Novotel Living Batumi, Mercure Aquapark, Mardi Hills under Handwritten Collection). Beyond development, Mardi operates vertically integrated subsidiaries including Mardi Comfort (24/7 property management and rental yield optimization), Mardi Energy (4.62 MW Cascade Hydroelectric Power Station), Mardi Capital (investment arm), Adjarian Wine House (hospitality/cultural venue), and TravelLab (travel services).

The business model centers on one-time property sales (with optional 36-month interest-free installment or 5% single-payment discount) complemented by recurring managed services revenue from Mardi Comfort. Distribution combines a domestic direct sales motion with international field sales targeting GCC, Asia/China, and CIS investors through offices in Dubai, Bahrain, and Lebanon, supported by a multilingual website (Georgian, English, Russian, Turkish, Chinese, Arabic). A residency-by-investment program ties property purchases to Georgian residence permits at $100K (1-year) and $300K (5-year/lifelong) thresholds, creating multi-year buyer retention. Founded by Irakli Turmanidze, leadership includes Managing Partner HRH Prince Juan Bagration-Mukhrani and a C-suite covering COO, CFO, B2B, B2C, Technical, Legal, and Marketing functions across the Batumi headquarters and three regional sales offices.

Name

Mardi Holding

Website

https://mardi.ge

Company type

Private

Founded year

1991

Headcount range

251–500 employees

Short description

Mardi Holding is a Batumi, Georgia-based real estate developer (founded 1991) building residential, commercial, and Accor-branded hotel properties, serving international investors from the GCC, Asia, and CIS through offices in Dubai, Bahrain, and Lebanon, with integrated property management, energy, and investment subsidiaries.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Multifamily (Apartment) Property Management (BPAJAGAD)

akta.pro secondary industries

Association Maintenance, Vendor & Capital Project Management (BPAJAHAM), Luxury Eco-Villas & Sustainable Premium Stays (THAMAEAH)

Keywords

• Real estate development
• Residential construction
• Hotel development
• Property management
• Hydroelectric power

Headquarters

HQ city

Bat'umi

HQ country

Georgia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Development and Sales: Mardi Holding develops and sells residential and commercial properties including apartments, hotels, and mixed-use complexes. Revenue generated from property sales with options for installment payments (up to 36 months, 30% down) or single payment (5% discount).
2. Property Management Services (Mardi Comfort): Professional property management arm providing 24/7 services including rental income optimization, maintenance, tenant services, and transparent reporting for property owners and investors.
3. Renewable Energy (Mardi Energy): Cascade Hydroelectric Power Station on Khokhnistkali River in Keda municipality, with installed capacity of 4.62 MW. Contributes clean electricity to national grid.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Mardi Holding develops and sells residential, commercial, and hotel properties in Georgia, primarily in Batumi, using eco-friendly foam concrete construction technology. The company operates through subsidiaries including Mardi Comfort (property management), Mardi Energy (hydroelectric power generation), Mardi Capital (investment), Adjarian Wine House (hospitality/cultural), and TravelLab (travel services). Real estate projects include branded residences and hotels developed in partnership with Accor Group (Novotel Living Batumi, Mercure Aquapark Batumi, Handwritten Collection by Mardi Hills).

Product overview

Mardi Holding is Georgia's leading real estate developer based in Batumi, offering a diversified portfolio of residential, commercial, and hotel development projects. The company operates through its Mardi Development division for real estate projects and several subsidiaries including Mardi Comfort (property management), Mardi Energy (hydroelectric power), Mardi Capital (investment), Adjarian Wine House (hospitality/cultural), and TravelLab (travel services). Current development projects include five main properties: Mercure Aquapark Batumi (aquapark hotel under Accor brand), Aquapark Residence (seaside apartments), Mardi Hills Batumi (80,000 sqm residential complex under Handwritten Collection), Novotel Living Batumi (Accor-branded hotel-residential), and Mardi City Center (multifunctional residential complex). The company has completed over 17 large-scale projects including residential complexes, hotels, commercial spaces, and mixed-use developments across Batumi, Tbilisi, and Bakuriani, with 30+ years of industry experience.

Differentiator

Problem solved

Functional benefit

Products and services

• Mardi Mercure Aquapark Batumi All-inclusive aquapark hotel and residence on the Black Sea coast featuring three gastronomic restaurants, two bars, BBQ area, spa center, fitness center, tennis and basketball facilities, kids area, swimming pools, water park, and conference rooms. Operated under the Mercure brand by Accor.
• Aquapark Residence Modern seaside apartments on the Black Sea coast within walking distance from the beach, featuring restaurants, bars, spa, fitness center, swimming pools, and water park amenities.
• Mardi Hills Batumi 80,000 square meter residential complex with spacious rooms and suites, modern fitness center, gastronomic restaurant, and meeting spaces. Part of the Handwritten Collection brand featuring distinctive local hotel experiences.
• Novotel Living Batumi Premium hotel-residential complex on Iberia Street in Batumi's recreational area, steps from a private beach. Features co-living spaces, gastronomic restaurant, 24-hour lobby bar, infinity pool, rooftop restaurant with sea and mountain views, SPA, fitness center, conference rooms, and children's playground. Operated by Accor Group.
• Mardi City Center Modern multifunctional residential complex with 20 floors across 3 buildings, 4-storey shopping center, panoramic city and mountain views, 600 meters to the sea, underground parking for 60 lots, and terrace.
• Mardi Comfort Professional property management subsidiary providing full-spectrum services including 24/7 online access for property owners, transparent reporting systems, regular maintenance, personalized guest and tenant services, and rental income optimization for Mardi-owned and investor properties.
• Mardi Energy Subsidiary focused on hydroelectric power generation. Operates a Cascade Hydroelectric Power Station on the Khokhnistkali River in Keda municipality with an installed capacity of 4.62 megawatts.
• Mardi Capital Investment arm of Mardi Holding managing capital investments and financial operations.
• Adjarian Wine House Combined winery, restaurant, and cultural space promoting Georgian wine traditions.
• TravelLab Travel and tourism services subsidiary of Mardi Holding.

Quantifiable outcome

• 17+ large-scale real estate projects completed
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and minor.

• Accor GroupcoreStrategic or Co-development Partner · 1 January 2018Strategic partnership initiated around 2018-2019 for branded residences and hotel management. Mardi Holding develops properties under Accor brands including Novotel Living Batumi and Mercure Aquapark Batumi, with Accor providing hotel management and brand standards.
• Beretta, Benelli (Italy), Anschütz (Germany)minorOthers · 1 January 2001Historical partnership (2001) for manufacturing wooden stocks for sporting and hunting firearms. Collaboration with global brands including Beretta and Benelli from Italy, and Anschütz from Germany for OEM production.

Scale indicators8 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• Red-Co: Tbilisi-based Georgian developer of premium residential and mixed-use developments including Axis Towers. Comparable business model: domestic development paired with foreign-investor sales channels.
• Axis Towers: Major Georgian real estate developer based in Tbilisi, delivering large-scale residential and mixed-use projects. Directly comparable as a Georgian competitor targeting both domestic buyers and international investors in the same property-investment market.

Others

• Marriott International: Global hospitality operator with extensive branded-residence and Residence Inn-style programs. Relevant as an alternative hotel-brand partner to Accor and as a model for the branded-residence asset class Mardi is pursuing.
• Hilton Worldwide: Global hospitality company with large branded-residence portfolio (Waldorf, Conrad, Hilton). Relevant as a potential competitor or partner for hotel-branded residential product in the same emerging-market resort geographies Mardi targets.

Broad incumbents

• DAMAC Properties: Dubai-based luxury developer known for branded residences with hospitality partners (operates similarly to Mardi's Accor model). Comparable as an emerging-market luxury developer targeting GCC and international buyers with residency/investment incentives.
• Lodha Group (Macrotech Developers): India's largest listed real estate developer with branded luxury residential towers and international investor programs. Comparable as a large emerging-market developer with branded-residence partnerships, NRI/foreign-investor focus, and vertical integration into property management.
• Aldar Properties: Abu Dhabi-listed developer of large-scale residential, retail, and hospitality assets targeting both UAE nationals and international investors. Comparable as a developer-operator with branded residences, hospitality partnerships, and active GCC investor outreach.
• Sobha Realty: UAE-based developer of master-planned luxury communities targeting both end-users and international investors. Comparable developer profile with branded communities, GCC investor outreach, and resort-style residential product.
• Prestige Group: India-based listed developer of premium residential, retail, hospitality, and commercial projects. Comparable in offering branded residences, hotel partnerships, and integrated mixed-use townships targeting both domestic and international buyers.
• Emaar Properties: Dubai-based global developer behind Burj Khalifa, Downtown Dubai, and branded residences with international hotel partners. Comparable as a large-scale developer pairing real estate sales with global hotel-branded residences and aggressive international investor marketing.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MardiHolding
• LinkedInlinkedin.com/company/mardi-holding

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mardi Holding