Apart Group

What Apart Group does

Apart Group (legally Apart Development) is a Georgian real estate developer founded in 2019 by Beka Khoperia and Jaba Ioseliani, headquartered at 70 Irakli Abashidze Street in Tbilisi. The company specializes in premium-class residential complexes in Old Tbilisi's historic center — a regulated, supply-constrained area most developers avoid due to historical monument restrictions and low construction intensity ratios. Its portfolio spans 2 completed developments (Old City Panorama Phase 1, Bukhaidze B1, Taghi Old Tbilisi) and 5+ ongoing projects including Old City Panorama II, EZO Old Tbilisi (Phases 1 and 2), Bukhaidze B2, Office and Trade Areas, and the planned Apart Vake tower, totaling approximately 35,000-40,000 m² of construction space. The product is hotel-type residential: spa, fitness, pools, 24/7 security, concierge, and rental management, priced between $1,000 and $3,000+ per m² depending on project and stage.

The company operates a vertically integrated model through three subsidiaries: Apart Construction (general contractor), Apart Showroom (renovation and interior design JV with Showroom Georgia), and Apart Architecture (აპარტ არქიტექტი). Revenue is generated primarily through one-time residential property sales, supplemented by recurring rental management fees and design/renovation services. Distribution runs through dedicated sales offices in Tbilisi, a multilingual website (EN/GE/RU), a broker portal (brokersapart.com), and a remote service center that enables foreign investors to complete purchases without visiting Georgia. Apart Group sells 1-bedroom to penthouse units, with downstream value capture from green-frame to fully furnished units.

Buyers fall into two primary segments: international real estate investors using Georgia's 0% property tax and residency-by-investment programs (facilitated by TBC Bank mortgage partnership), and premium domestic buyers seeking Old Tbilisi addresses. The company's strategic position rests on restricted-location land access, specialized architectural expertise for heritage-grade construction, and a buyer-acquisition funnel that has been validated by project sell-outs and the 2021 ArchFrame Design Award for Old City Panorama. In October 2025 the company pivoted to an asset-light model, outsourcing construction to partner Adli while retaining development and architecture functions.

Name

Apart Group

Legal name

Apart Development

Website

https://apartgroup.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Apart Group is a Georgian real estate developer building premium, hotel-type residential complexes in Old Tbilisi's historic center, selling green-frame and finished apartments to international investors and domestic premium buyers via direct sales, broker portals, and remote purchase services.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

akta.pro secondary industry

Mixed-use / residential-hotel serviced apartments (condo-hotel style) (THAMACAJ)

Keywords

• Residential real estate development
• Premium apartment complexes
• Real estate investment Georgia
• Hotel-type residential services
• Historic district property

Headquarters

HQ city

T'elavi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Property Sales: Primary revenue stream from selling residential apartments and commercial spaces across multiple projects in Tbilisi and Batumi. Properties are sold in green frame condition with optional full renovation through partner company Apart Showroom. Prices range from $1,000 to $3,000+ per square meter depending on project and completion stage.
2. Rental Management Services: Post-sale rental services for property investors, including tenant communication, room service, cleaning, 24/7 security, and financial accounting. Targets foreign investors seeking returns from tourist rentals in Old Tbilisi.
3. Renovation and Interior Design: Through affiliated company Apart Showroom, offering interior design, materials, renovation, and full apartment furnishing services for buyers who purchase in green frame condition.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Apart Group (Apart Development) develops and sells premium-class residential complexes and commercial real estate primarily in Old Tbilisi and Batumi, Georgia. The company builds hotel-type residential properties with integrated amenities such as spas, fitness centers, swimming pools, concierge, and 24/7 security, while offering ancillary rental management and remote purchase services for international investors.

Product overview

Apart Group operates as a real estate developer offering a portfolio of residential complexes and commercial properties in Tbilisi and Batumi, Georgia. The product portfolio consists primarily of premium-class apartment complexes in Old Tbilisi (Old City Panorama, EZO Old Tbilisi, Bukhaidze B1/B2, Taghi Old Tbilisi), a new Vake district project (Apart Vake), and commercial space (Office and Trade Areas). Core offerings are supported by ancillary services including rental management, remote purchase assistance for international investors, and interior design/renovation through the Apart Showroom subsidiary. The company positions itself as a developer of hotel-type residential complexes offering panoramic views, premium amenities (spa, pools, fitness, concierge), and flexible payment options including internal installment plans and partner bank financing.

Differentiator

Problem solved

Functional benefit

Brands

• Apart Construction: Construction company established in 2020 for building projects
• Apart Showroom
• Apart Architecture (აპარტ არქიტექტი)

Products and services

• Old City Panorama Premium-class residential complex in Old Tbilisi consisting of 3 buildings (8 floors each). Offers hotel-type services including spa, fitness, outdoor and indoor pools, cafes, restaurants, 24/7 security, cleaning, room service, and rental management. Total area: 10,381 m². Phase 1 completed September 2023, Phase 2 under construction. Priced from $3,000/m².
• Old City Panorama II Second phase of the Old City Panorama premium complex. Boutique residential complex with 1 and 2-bedroom apartments and 3-bedroom penthouses with terraces. Includes pool, spa, fitness, green courtyard, 24/7 security, underground parking, cafe-restaurants, and concierge services. Prices from $2,300/m².
• EZO Old Tbilisi

Quantifiable outcome

• Projects sold out in record time, with demand exceeding supply for Old City Panorama
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• AdlicoreImplementation/ SI/ Consulting Partner · 1 October 2025Adli is Apart Group's primary construction partner for Old Tbilisi projects. With more than a decade of experience in the construction sector, Adli is known for modern approaches, innovative technologies, and the highest quality workmanship. The partnership focuses on Old Tbilisi projects that require special precision and careful planning to harmonize historical architecture with modern standards while preserving the city's unique identity.
• Apart ShowroomcoreStrategic or Co-development Partner · 1 January 2020Joint venture between Showroom Georgia, Apart Group, and Apart Construction established in 2020. Apart Showroom provides renovation and interior design services for Apart Group buyers, offering apartment design with real materials, renovation, and complete furnishing. This partnership enables the company to offer turn-key solutions from green frame purchase to fully finished apartments.
• GreenlifeminorOthers · 1 January 2019Founder Beka Khoperia served as director of Greenlife construction and development company in 2016, through which he gained significant industry experience. Goderdzi Osipov, founder of Greenlife, served as a mentor and played a huge role in Khoperia's professional development.

Scale indicators6 records

Recent moves6 records

Expansion highlights12 records

Direct peers

• Axis Towers: Premium residential and mixed-use tower developer in Tbilisi. Comparable as a premium-segment new-build residential operator targeting both domestic and international buyers in Georgia's capital.
• Red-Co (Red Development): Tbilisi-based residential real estate developer with a portfolio of new-build apartments in the city. Comparable because of overlapping project type (for-sale residential complexes) and shared Georgian buyer pool.
• Adjara Group: Diversified Georgian group with large-scale real estate and hospitality operations across Tbilisi and Batumi. Comparable because it develops residential and hotel-format properties in the same tourist geographies that anchor Apart Group's investment thesis.
• m² Real Estate: Active Georgian residential and mixed-use developer based in Tbilisi. Direct peer because both companies pursue new-build premium residential in Tbilisi's prime districts using a developer-sell model to local and foreign investors.
• Archi Group: Georgia's largest residential real estate developer, building premium-class complexes in Tbilisi. Direct peer given the same urban Tbilisi focus, premium positioning, and target buyer (local and international investors seeking high-quality apartments).

Broad incumbents

• Aldar Properties: UAE-based developer of integrated mixed-use communities combining residential, retail, and hotel-type components. Parallel to Apart Group's Old City Panorama concept that fuses residential apartments with hotel-grade amenities in a single complex.
• DAMAC Properties: Premium residential developer in MENA with branded and serviced residences. Comparable because of its emphasis on luxury residential units combined with hotel-style services and operator partnerships—a model parallel to Apart Group's "hotel-type residential" offering.
• Emaar Properties: Global large-scale developer of premium residential and mixed-use communities, including hotel-branded residences. Comparable as a broader incumbent operating a premium design-build-develop-and-sell model with integrated hotel-type amenities.

Others

• Oakwood (Mapletree): Serviced apartment and corporate-housing operator delivering hotel-grade experiences in residential-format units. Comparable concept to Apart Group's post-sale rental management offering for foreign property owners in Tbilisi.
• The Ascott Limited: Global serviced-residence and aparthotel operator. Conceptually adjacent to Apart Group's rental-management product, which provides guests with hotel-style services in investor-owned apartments in Old Tbilisi.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/apart-group-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 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 Apart Group