Hualing Group

What Hualing Group does

Hualing Group (Xinjiang Hualing Industry and Trade (Group) Co., Ltd) is a privately held Chinese diversified conglomerate founded in 1988 in Urumqi, Xinjiang, that began as a USD 5,000 bazaar and grew into the largest commodity market operator in Central Asia, managing 30 companies and 4 wholesale markets totaling 3 million square meters. Since 2007 the group has deployed capital into Georgia, anchoring its international operations in a 420-hectare master-planned mixed-use development, Tbilisi Sea New City, comprising 2 million square meters of residential space and 2 million square meters of commercial/recreational space.

The portfolio spans residential complexes (Tbilisi Sea Residence with 39 completed buildings, plus 42 villas and 11 townhouses), hospitality (Hotels & Preference Hualing Tbilisi with 246 suites, an 83-room Dormitory Hotel, and a 38-suite Kutaisi hotel), retail and trade (Tbilisi Sea Plaza at 160,000 m2 and the 12,000 m2 Mihouse building materials hypermarket), financial services through BasisBank (acquired in 2012, with Hualing Insurance and BHL Leasing launched in 2018), a 36-hectare Kutaisi Free Industrial Zone offering 100% permanent exemption from corporate income, dividend, VAT, customs, and property taxes, an 88,000 cubic meter wood processing license with a 20,000 m2 furniture factory and 95% export rate, and the 2020-acquired Newton Free School. By end of 2018, cumulative Georgia investment had reached $500 million and over 3,000 jobs had been created.

Revenue mechanics blend one-time real estate sales, recurring commercial rental income from Tbilisi Sea Plaza and industrial zone leases, recurring hotel and conference revenue, recurring banking and financial-services fees, hardware sales from wood/furniture manufacturing, and transaction fees from international wholesale trade through Tbilisi Sea Plaza. The go-to-market combines B2B enterprise engagement (industrial tenants, wholesale traders, government and trade-delegation relationships with MOFCOM and HKTDC), direct-to-consumer residential sales, and a regulated zone-leasing channel with statutory tax incentives. Headcount for the Georgia operation exceeds 3,000, and the group remains privately held under founder/family control with no disclosed external institutional equity or public listing.

Name

Hualing Group

Legal name

Xinjiang Hualing Industry and Trade (Group) Co., Ltd

Website

https://hualing.ge

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

10,001+ employees

Short description

Hualing Group is a privately held Chinese conglomerate that, since 2007, has built a 420-hectare mixed-use development in Georgia spanning residential, hospitality, retail, banking, tax-free industrial zone, wood processing, and education businesses.

Ownership category

akta.pro rank

Product category

Real Estate Development and Diversified Conglomerate Operations

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), New Housing For-Sale Builders (236117), Residential Property Managers (531311), Household and Institutional Furniture Manufacturing (33712), Building Material and Garden Equipment and Supplies Dealers (444)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Household Furniture (2510)

akta.pro industry

PRIMARYIMAFABAB

Multi-Family Residential Construction (Apartments, Condos, Townhomes)

Industrials, Manufacturing & Construction/Construction & Civil Engineering/Residential Building Construction

SECONDARYIMAFABAL

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities)

Industrials, Manufacturing & Construction/Construction & Civil Engineering/Residential Building Construction

SECONDARYIMAFACAB

Retail & Mixed-Use Commercial Construction

Industrials, Manufacturing & Construction/Construction & Civil Engineering/Commercial & Institutional Building Construction

SECONDARYBPAJAGAD

Multifamily (Apartment) Property Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Commercial Property Management

Keywords

• Real estate development
• Free industrial zone
• Wholesale trade center
• Hospitality services
• Banking services

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development and Sales: Development and sale of residential complexes, villas, and townhouses in Tbilisi Sea New City. Revenue generated from property sales to individual buyers and investors.
2. Shopping Center and Wholesale Market Rental: Rental and management of shopping malls and wholesale markets including Tbilisi Sea Plaza, Mihouse building materials hypermarket, and Hualing Park commercial areas.
3. Banking Services (BasisBank): Full range of banking services to physical and legal entities through BasisBank, acquired in 2012. Also includes Hualing Insurance and BHL Leasing launched in 2018.
4. Free Industrial Zone Leasing: Rental of industrial buildings, warehouses, and land plots in the 36-hectare Kutaisi Free Industrial Zone to manufacturing and processing companies.
5. Hotel Operations: Operation of Hotels & Preference Hualing Tbilisi (246 suites, 5-star), Dormitory Hotel (83 guestrooms), and Hualing Hotel Kutaisi (38 suites). Includes conference and event venue services.
6. Wood Processing and Furniture Manufacturing: Timber harvesting (30,000 cubic meters annually), wood processing, furniture manufacturing, and export through Poti port. 95% exported to Central Asia, Egypt, Iran, Iraq, and UAE.
7. Foreign Trade Operations: International trading through Tbilisi Sea Plaza serving as wholesale and retail distribution center for goods from USA, Germany, Italy, China, Iran, and other countries.

Go-to-market motion3 records

Distribution channels7 records

Marketing channels5 records

Core offering

Hualing Group develops and operates integrated mixed-use real estate projects, primarily the 420-hectare Hualing Tbilisi Sea New City in Georgia, encompassing residential complexes, hotels, a 160,000 m2 wholesale and retail trading center, recreational parks, and supporting infrastructure. The company also runs a 36-hectare tax-free industrial zone in Kutaisi, wood processing and furniture manufacturing operations, financial services via BasisBank, and operates hotels, a building materials hypermarket, and an educational institution.

Product overview

Hualing Group is a diversified real estate development and investment corporation operating primarily in Georgia through its flagship Hualing Tbilisi Sea New City master-planned development. The company's product portfolio spans residential complexes (Tbilisi Sea Residence, Villas and Townhouses), commercial/trade centers (Tbilisi Sea Plaza, Mihouse hypermarket), hospitality (Hotels & Preference Tbilisi, Dormitory Hotel, Kutaisi Hotel), recreational facilities (Hualing Park), industrial infrastructure (Free Industrial Zone in Kutaisi), financial services (BasisBank), wood processing/furniture manufacturing, and education (Newton Free School). These offerings are integrated within the 420-hectare Tbilisi Sea New City development, supplemented by the Free Industrial Zone in Kutaisi and various standalone properties across Georgia.

Differentiator

Problem solved

Functional benefit

Brands

• BasisBank: Banking services acquired in 2012, operating since 1993
• Hotels & Preference Hualing Tbilisi
• Mihouse
• Newton Free School

Products and services

• Hualing Tbilisi Sea New City A 420-hectare master-planned mixed-use development near Tbilisi Sea comprising 2 million m2 of residential space and 2 million m2 of commercial and recreational space, including apartments, villas, an international trade center, logistics hub, and customs warehouse. Targets residential buyers, commercial tenants, investors, and businesses.
• Hualing Tbilisi Sea Residence The first residential complex within Tbilisi Sea New City with 39 completed buildings featuring children's playgrounds, running tracks, bicycle tracks, free parking, and high-level technical services. Targets individual home buyers and residential investors.
• Hualing Tbilisi Sea Plaza A 160,000 m2 international trading center serving as wholesale and retail distribution hub for garments, footwear, furniture, building materials, and children's items across the Caucasus region, featuring a 3,000 m2 event venue with 450 m2 stage. Targets wholesale and retail merchants, shoppers, and event organizers.
• Hotels & Preference Hualing Tbilisi
• Hualing Hotel Kutaisi
• Hualing Dormitory Hotel
• Hualing Free Industrial Zone A 36-hectare tax-free multi-profile industrial zone in Kutaisi offering 100% exemption from corporate income, dividend, VAT, customs duties, and property tax, with ready-made industrial buildings, warehouses, and land plots for lease. Located near Kutaisi Airport (19 km) and Black Sea Port of Poti (95 km). Targets manufacturing, processing, and trading companies in wood, furniture, stone, building materials, ferro-manganese, ethanol, and IT sectors.
• BasisBank A Georgian bank (operating since 1993) acquired by Hualing Group in 2012, offering full banking services to physical and legal entities including Hualing Insurance and BHL Leasing. One of the fastest growing financial institutions in Georgia. Targets individual consumers and corporate banking customers.
• Hualing Villas and Townhouses
• Mihouse Building Materials Hypermarket
• Hualing Wood Development Wood processing and furniture manufacturing operations licensed for up to 88,000 cubic meters annually, including a 20,000 sq.m. Kutaisi furniture factory and 2,500 sq.m. exhibition hall. Exports 95% of timber to Central Asia, Egypt, Iran, Iraq, and UAE. Targets wood processing companies, furniture manufacturers, and international timber buyers.
• Newton Free School A general education institution for Grades 1-12 offering National Curriculum programs plus advanced educational programs in equipped facilities. Targets students and families seeking enhanced K-12 education in Georgia.

Quantifiable outcome

• $500 million investment capital deployed in Georgia by end of 2018
• +6 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Hong Kong Business DelegationcoreStrategic or Co-development Partner · 20 September 2023Hong Kong Business Delegation visited Hualing Group facilities in Georgia, reinforcing trade and investment relationships between Hong Kong and Georgian markets.
• MOFCOM (Ministry of Commerce of China)coreStrategic or Co-development Partner · 2 August 2023Ministry of Commerce of China officials visited Hualing Group facilities in Georgia, specifically attending the Tbilisi Sea Plaza tenant banquet hosted by Hotels & Preference Hualing Tbilisi. The visit demonstrates Chinese government support for Hualing's cross-border investments.
• HKTDC (Hong Kong Trade Development Council)coreStrategic or Co-development Partner · 2 August 2023Hong Kong Trade Development Council representatives visited Hualing Group as part of trade development initiatives between Hong Kong and Georgia. HKTDC promotes Hong Kong trade and has been engaging with Hualing's operations.

Scale indicators21 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Aldar Properties: Abu Dhabi-based real estate developer with integrated mixed-use communities, hotels, retail, and education assets. Comparable to Hualing's mix of master-planned developments, hotels, and schools, though at substantially larger scale.
• Marriott International: Global hotel operator with multi-tier brand portfolio including 5-star luxury (Ritz-Carlton, St. Regis, JW Marriott). Comparable to Hualing's Hotels & Preference Tbilisi positioning in the upper-upscale hospitality segment.
• Emaar Properties: UAE's largest developer with mixed-use megaprojects (Downtown Dubai, Dubai Marina), hotels, and shopping malls. Comparable to Hualing's city-scale Tbilisi Sea New City in master-planned community model, though at far greater scale and capital base.

Direct peers

• Country Garden Holdings: Chinese real estate developer with diversified operations including property management, education, and hotels. Comparable to Hualing in Chinese origin, multi-vertical conglomerate structure, and broad residential development focus.
• TBC Bank Group: Tbilisi-based financial and real estate conglomerate listed on the London Stock Exchange. Combines banking (TBC Bank) with property and consumer finance operations in Georgia — directly comparable to Hualing's combination of BasisBank and real estate development in the same market.
• China Vanke: One of China's largest diversified real estate developers with significant property management and services businesses. Comparable in Chinese origin, residential development focus, and transition toward operating/management revenue streams.
• Jafza (Jebel Ali Free Zone Authority): UAE's largest free zone operator offering tax-advantaged industrial and commercial real estate to multinational tenants. Direct comparable to Hualing's Kutaisi Free Industrial Zone in business model, customer base, and tax-driven value proposition.
• Bank of Georgia Holdings: LSE-listed holding company for Georgia's leading bank, with diversified operations across retail banking, real estate, and healthcare. Closest large-cap, publicly disclosed diversified Georgian conglomerate comparable to Hualing's holding structure.
• Greenland Group: Chinese state-owned conglomerate with international real estate operations across the US, Australia, UK, and emerging markets. Comparable in Chinese origin, cross-border real estate strategy, and conglomerate footprint to Hualing.

Others

• Inter IKEA Group: Global furniture manufacturing and retail conglomerate with integrated supply chain. Comparable to Hualing Wood Development's integrated wood processing and furniture manufacturing under the Kutaisi umbrella.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Hualing Group