URBAN Tbilisi 2022 by The FINANCIAL

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June 27, 2022

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Villa Residence Celsius in Urban Development Attracted $200 Million Read on p. 4 Investment What Legislative Continued on p. 13 Changes Have Been Made in Terms of Urban First Georgian Bank with EDGE Development? International Teimuraz Bolotashvili, Head of Tbilisi Certificate Architecture Service, For Energy talked about the main and Resource legislative changes which Efficiency positively affected urban development.

Continued on p. 15

Read on p. 2

“Tbilisi As a Leading City in Europe, With Outstanding Infrastructure and Transport” Mayor Kaladze says the main goal for Tbilisi is to become one of the leading European capitals

“Our main goal for Tbilisi is to become one of the leading cities in Europe, a capital that will be equal to other European capitals, with a well-regulated transport infrastructure, proper planning and green spaces. Also, with the healthiest and safest living environment that will be accessible to everyone. We have held numerous activities to achieve this and will continue to do so in the future.” Read on p.2

Axis Towers - Georgia at a new height Continued on p. 2

Interview with the GM of Wyndham Grand Tbilisi

Read on p. 19

GALT & TAGGART Continues Market Analytics and Feasibility Studies for Countries Urban Development Read on p. 6

White Square in Urban Development Read on p.8

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HEADLINE NEWS & ANALYSIS June 27, 2022 | FINCHANNEL.COM

What Legislative Changes Have Been Made in Terms of Urban Development?

In an interview with The FINANCIAL, Teimuraz Bolotashvili, Head of Tbilisi Architecture Service, talked about the main legislative changes which positively affected urban development, and future plans in this direction. By The FINANCIAL Properly developed legislation is one of the main preconditions for the economic, political, and social progress of the country. The legislation defines and regulates all issues related to the proper urban development of the country, including environmental issues, regulation of transport policy, compliance with norms in the construction sector, etc. Recently, Tbilisi City Hall has implemented significant legislative changes, which have had a positive impact on both the construction sector and the urban development of the city. “The changes that the municipality has made recently are very important for the construction sector. First of all, I would like to mention a new type of cleaning fee, this is the fee set for facilities under construction. According to the decree of 8-9 March 2022, the owners of the buildings under construction will be subject to the payment of the monthly fee, in this case, I am talking about the cleaning fee. There are specific rates for this, it is 10 tetri for an individual house, and 50 tetri per square meter for all other types of buildings. Since buildings under construction generate household waste by themselves, we are not talking about construction waste here, we are talking about household waste. Tbilservice Group monitored specific construction sites according to defined criteria and these rates were adjusted according to how much household waste was consumed or generated by each construction site according to its size. In addition, Tbilservice Group is increasing its capital expenditures every year due to the growing number of cities and developed areas. Areas in need of new bins, services of dumpsters. This is an additional incentive to request payment of this fee from the holders of the construction permit. For example, if there are 1000 square meters of reporting space, we can easily calculate how much to pay in total. Payment of this is tied to the fulfillment of the permit condition. If this amount is not paid monthly, which will be accrued to them by Tbilservice Group, then the proceedings will be initiated by the Municipal Inspection, as well as in case of violation of any construction permit. The Architecture Service assists the municipality in the proper administration of this issue. After uploading the application on our site, a warning is given to the applicant, information about the mentioned fee is provided, as well as in the relevant field we request a reference to the contact number, to which the responsible person is sent information about the fee on a monthly

TEIMURAZ BOLOTASHVILI, HEAD OF TBILISI ARCHITECTURE SERVICE

basis. Consequently, the Architecture Service on the one hand helps the applicants, the permit holders and on the other hand Tbilservice Group to communicate properly with each other and to pay these funds. After issuing the permit, Tbilservice Group registers the permit holder as a subscriber and then already pays this fee on a monthly basis. To summarize, the introduction of this new type of fee was due to two reasons: on the one hand, the real circumstances in which the buildings under construction generate household waste, and on the other hand, this decision is reinforced by the fact that in municipalities capital expenditures are increasing every year. I would like to emphasize the changes made in Resolution 255. This is a decree that regulates the issuance of a construction permit. According to the decree, regulations have been simplified during the construction of individual houses. Engineering communications networks, including electrical wiring, water supply, gas supply, etc., these schemes are no longer required in the construction of individual dwellings. They were also exempted from submitting a separate protocol on the completion of certain stages of construction to the municipal inspection. In addition, in the case of new construction and reconstruction of an existing building, specific requirements will be introduced in the near future that will be related to the minimum requirements in terms of energy efficiency. We have also made some changes in the 2016 N14-39 resolution of the City Council. Specifically, in order to help the victims of cooperative housing, we have made several types of changes. Working on this type of project is a priority for our municipality, as the previous Tbilisi Mayor's election promise was that all cooperative housing victims

would receive apartments, so we have established certain benefits for such facilities to facilitate this process. Without elaborating on the general plan, we allow the development of the mentioned land plots for construction. Also very important were the changes we made to this resolution in the cultural heritage protection zones. As you know, these zones are the oldest, I mean the area of old Tbilisi, where there is a network of streets, in the form that exists and the regulation, which was related to the minimum requirements for land, area, and size, contradicted the real situation in old Tbilisi. We have abolished the minimum requirements in the cultural heritage protection zones, therefore, in almost 100% of cases we have dropped 1 procedure. This is the issuance of a zonal agreement by the Urban Service, which was finally issued by the Mayor's act to set individual parameters, was absolutely inconsistent with the specifics of Old Tbilisi, therefore this change had a positive impact on these areas. In addition, in the cultural heritage protection zones for the same purposes as I mentioned, the development and planting parameters set by the functional zone will not be taken into account if the building had or has had these parameters violated. If historically the building was located on a plot of land in such a way that 90% of the plot was occupied and reconstruction or other type of construction is underway, we can assume these elevated parameters and not require, for example, compliance with the parameters set by the functional zone. These changes do not apply to the territories of outer Tbilisi. Consequently, we are talking only about the historical zone.

Continued on p. 17

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urban tbilisi 2022

“Tbilisi As a Leading City in Europe, With Outstanding Infrastructure and Transport” Mayor Kaladze says the main goal for Tbilisi is to become one of the leading European capitals

ated in the living environment. More than 1,000 parks and squares have recently been renovated and arranged, and a number of more recreational areas are planned for the future. Also, one of the main priorities is the development of public transport. Tbilisi City Hall is working hard on this issue, as of today, 860 buses and 1,000 minibuses have been purchased and this process is set to continue. In addition, we are working to reduce the waiting time for public transport to a minimum, which should range from 7-15 minutes. It is also very important to develop ecofriendly transport, which is used by people of all generations, and both visually and functionally, the transport policy of our capital is approaching European standards.

Q. What are you doing to improve air quality and protect ecological spaces while building urban constructions?

Urban development of the capital is one of the most important issues for the country’s progress and improvement. The public sector plays a key role in achieving this goal. The right policies pursued by the public sector determine the right urban development of the country. In an interview with The FINANCIAL, Kakha Kaladze, the Mayor of Tbilisi, talked about the main achievements of City Hall in terms of urban development and its plans for the future.

A. A number of changes have been made to the legislation to ensure recreational spaces, including an increase in the minimum number of planting coefficients in public-business zones (K-3). Every construction project creates at least 30% of the planting, and in some cases, that amount is as high as 80%. Also, according to the changes, the landscaping coefficient no longer provides for open parking lots to ensure maximum allocation of the mentioned area to the green space. At the same time, the public transport park was replaced and the city was equipped with renewed transport, which is much more environmentally friendly. Also, in the planning process, giving priority to pedestrians and non-motorised transport users will ensure that the number of private cars is reduced and, as a result, the air quality is improved.

Q. Urban development has become a prioritised issue in the modern world. What is Tbilisi City Hall doing to achieve this? A. A general plan for the proper urban development of the capital was adopted on 15 March, 2019, with the aim of creating a healthy and safe living environment for the capital’s population. The main priorities of the ‘General Plan’ were the implementation of green city concepts, which include solving transport challenges and providing the city with green spaces. The changes also led to a ban on construction in green areas, the restoration of degraded areas and landscape spaces. Most importantly, the main goal was to ensure the safety of human life and health. In the planning process to achieve these goals, the priority of Tbilisi Municipality is to make the city more bustling, in order to get a well-connected city, where living spaces, social infrastructure and employment points will be as close to each other as possible.

Q. Which specific elements of the urban agenda are especially important for Tbilisi and why? A. The urban agenda comprehensively includes many elements, but those which should be distinguished include transport, environmental and social issues. In terms of transport issues, this is directly related to the development processes of the city. That is why the Land Use Master Plan outlined two important issues: defining the hierarchy of road users and the concept of a “well-connected city”. According to the hierarchy, pedestrian, non-motorised transport and public transport are preferred over private transport. For this purpose, public transport is regulated and, accordingly, the

Q. What activities can you name as examples of supporting urban development in Georgia?

movement of pedestrians is preferred. Landscaping and the development of parks are important at both the district and city levels. The general plan of land use has identified the park areas, the development of which is in progress. Social issues are also on the urban agenda. To this end, certain exceptions and benefits have been introduced to meet the needs of those affected by cooperative housing. As well as ongoing construction work to replace structures with unfinished construction status and damaged buildings. This ensures the accommodation of those affected in a short period of time.

Q. In terms of the urban develop-

ment of Tbilisi, what are your priority issues and what are your future plans in this regard? A. The priority of Tbilisi’s urban development is the concept of a green city, where as many green spaces as possible will be cre-

A. Since we have made it a priority within the framework of transport and urban policy to create the most adapted environment for pedestrians, great efforts have been made to improve the transport infrastructure in all ongoing and planned projects. In the development of infrastructure, we do not only mean the renovation of the road surface or the placement of zebra crossings, but also the creation of equal conditions for all road users to move according to the hierarchy. In particular, the project on Chavchavadze Avenue is adapted to the principles of a multimodal street, where pedestrians, public transport users, people with disabilities and non-motorised transport (for example bicycles) have the required conditions for easy and smooth movement.

Q. How would you describe the Tbilisi of tomorrow? A. Our goal is for Tbilisi to become a capital that will be equal to other European capitals, with a well-regulated transport infrastructure, proper planning and green spaces; also, with the healthiest and safest living environment that will be accessible to all. Effective measures are being taken daily to achieve these goals and the results are already visible.

Continued on p. 17

HEADLINE NEWS & ANALYSIS

urban tbilisi 2022

June 27, 2022 | FINCHANNEL.COM

Celsius in Urban Development

Live Comfortably with Environmentally

Friendly Heating and Cooling Systems Offered by Celsius

By The FINANCIAL

which contributed to the urban development of Tbilisi? Since the end of 2020, when almost all companies were closing, we have started, entered the market and employed many people in all parts of Georgia, we are represented in Batumi, Zugdidi, Kutaisi, Telavi, Tbilisi. We have many active locations where people are also actively employed and involved in its development and advancement. We are constantly in touch and collaboration with artisans and other big companies. All major networks and distributors are our partners with whom we actively cooperate. This motivates us even more and creates a positive mood for us to be more active and offer the desired products to the customers. Cooperation with different companies has brought us a lot of progress, and many positive projects have been implemented. Several active measures are being taken at this stage as well, which will also have a positive impact on the economic and environmental progress of the company and the city.

Heating-Cooling and Ventilation Systems Company Celsius is known in the market for being the exclusive provider of the wellknown brand ‘Ariston’ to Georgian consumers. 'Celsius' is a new company that offers customers heating and cooling systems, different kind of products of 'Ariston' and other leading brands. In addition, 'online' sales and official warranty service are available. One of the core values of the company is social responsibility, such as environmental protection, gender equality, innovation support and education promotion. Celsius is a new company that has been able to establish itself in the Georgian market in a short period of time, manages its business in good faith and efficiently. Its goal is to create quality and service, to gain a lot of satisfied customers. In an interview with The FINANCIAL, Sopo Akhalaia, Head of Marketing in Celsius, talked about the company's role in Georgian market, underlined their main vision and future plans of Celsius in terms of counties economical and it’s urban development.

Q: What role does business, especially Celsius, have in the future of the city's urban development? Our main goal is to do things with high quality and in a way that does not harm the environment. At this stage, we do not have foreign investors as partners, we are a Georgian company and we try to employ as many Georgians citizens as possible, to create more jobs, which will definitely be reflected in the quality and high service. We hope that our business will develop, expand further and we will have such high quality services that will make the brand competitive both in Georgia and in Europe.

Q: Tell us about Celsius. At what angle does it operate in the market? Celsius entered the market at the end of 2020. We are the official representatives of the Italian brand "Ariston" in Georgia. Our company is represented in different regions of Georgia and we plan to add several more branches throughout Georgia. It is very important for the company to take care of the ecology for Celsius. That is why we are collaborating with the Italian brand Ariston, which constantly takes into account the environmental factor in the production of its products. Q: What contribution does the Celsius make to urban development? For Celsius, environmental care is one of the most important topics on the agenda. That is why we cooperate with the Italian brand Ariston, which constantly takes into account environmental issues while producing new products. With Celsius, Ariston always tries to do less harmful actions to the environment and take care more about ecological issues. Energy efficiency is one of our main priorities, in the framework we try to do less damage to Tbilisi and not only to Tbilisi, for our country. Our care is constant, we cooperate with many companies and take part in various activities in order to increase our role in the country's urban development and environmental care. Q: What services does Celsius offer to customers? The main goal of the heating-cooling company Celsius is customer satisfaction. We offer various services to our customers, both in terms of purchasing products and high quality services. All this means offering them both Italian and other European brands that are unrivaled in the market and constantly strive to take care of the environment as well as offer high quality products to customers. Consequently, our main goal is not just to sell products. Behind all this there are many important issues that are

more of a priority for us. Our customer relationship does not end with just purchasing products. Once a customer purchases a product, we are in constant communication with them. We offer them a 5-year warranty, which follows the customer to the end, and this has a very positive effect on their satisfaction. Q: What sets Celsius apart from other competitor companies? Although Celsius is a new company in the market, it is a team of highly professional employees that sets it apart from other competing companies. All this increases the credibility of both the customer and the Ariston brand and gives us the opportunity to operate successfully in the market. The trust of the world-famous Italian brand in us indicates the high quality and professionalism of our company. Customers are also very positive about us, which also has a positive effect on the company's progress. I would like to mention that we have been in the market for only 1.5 years and we have already gained a large share of the market. It means that our company has big potential and huge plans for future success. Q: What activities can you name as an example of supporting urban development in Georgia? Our

products

are

environmentally

“Our main goal is customer comfort in any weather, so we strive to create comfort for all customers who are in Georgia and who need heating and cooling products.”

healthy. As I mentioned, our staff, whose number has already grown to 100, is constantly involved in various activities. We cooperate with various companies, we try to gather, plan environmental activities, join cleaning actions and contribute to the protection and care of nature and ecology in Tbilisi and Georgia. We try our best to be an ecologically clean company and to create comfort in Georgia. Q: How does Celsius measure customer or employee satisfaction? Our customer satisfaction is measured by various parameters. Including the number of incoming calls, incoming messages, which is constantly growing and also has a positive impact on the company. We also constantly conduct market research that determines customer satisfaction and feedback and always take into account customers opinion in our further steps.

Q: Which successfully implemented projects would you single out in 2019-2022,

Q: What is your main goal for the current year in business development, which will positively affect urban development? In 2022, the goal of our company is to expand more, create more jobs and employ citizens, because we in Georgia really need professional staff and create new jobs for them. In addition, we strive to promote the career advancement of staff and professional development in the field of heating and cooling. The main concern of the company is both its employees and customer satisfaction. One of the main priorities for us is to make the customer satisfied and we do everything for that. We plan to expand, open more branches in different regions of Georgia and be the first. Our main goal is customer comfort in any weather, so we strive to create comfort for all customers who are in Georgia and who need heating and cooling.

HEADLINE NEWS & ANALYSIS FINCHANNEL.COM | June 27, 2022

urban tbilisi 2022

HEADLINE NEWS & ANALYSIS

urban tbilisi 2022

June 27, 2022 | FINCHANNEL.COM

GALT & TAGGART Continues Market Analytics and Feasibility Studies for Countries Urban Development by The FINANCIAL

the Tbilisi General Plan, which was approved a few years ago, and it will absolutely change the development of the market in the coming period. This primarily involves the relocation of developers from the central districts to the suburbs, and this will continue in the following periods as well. Today we see that there is less and less construction in the central districts of the city and more construction begins in the suburbs. As for commercial real estate, if 10 years ago, for example, most of the city population traded in open markets and street retailers, today we have a completely different situation. People prefer to go shopping in modern format shopping malls, which means not only buying things but also having fun. If we look at the malls in Tbilisi today, we will see that they allow us to shop, have fun and get different types of services at the same time.”

In an interview with The FINANCIAL, Kakha Samkurashvili, Senior Analyst at GALT & TAGGART talked about the company's contribution and future plans for urban development. Q: Urban development has become one of the priority tasks nowadays. What does “GALT & TAGGART” do in this regard? A: “Galt & Taggart has been working in the field of urban development for many years and the most important thing we do is to provide the market with the analytics and all the important information they need to make informed decisions. Today in the field of real estate development and in the context of urban development it is very important for the investor to have the right and up-to-date information to make the right decisions. This is how we see our mission to help us market the market and always provide the latest information to those who are interested. For example, we publish new research on a quarterly or annual basis, which contains the latest information. We also work in the field of private orders and for investors who want any direction of real estate development in Tbilisi, be it residential, office or shopping center, we offer tailored research, which allows you to make the right and informed decisions.”

Q: What are the specific projects the “GALT & TAGGART” is involved in urban development direction? A: “In recent years, we have been quite active in this area and have helped several investors, for example in the preparation of feasibility studies, for example in the preparation of market analytics. These were multifunctional projects that included both residential and office and commercial real estate and our role was limited to this component which meant providing information to the investor.”

Q: What specific elements of the urban agenda are particularly important for Tbilisi and why? A: “Tbilisi has been developing in this direction in recent years. It can be said that we are living in a very interesting era in terms of urban development, because

Q: What activities can you name as an example of supporting urban development in Georgia?

“In recent years, we have been quite actively involved to help number of investors in the preparation of feasibility studies, market analytics, etc. We continue our research studies to help companies and investors in market analytics and make our contribution in urban development”. the attitude of both investors and consumers has changed dramatically in recent years. Let's talk about the different subtypes of real estate one by one so that we can better understand and formulate it in one context. Let's start with residential real estate. Conditionally if 10 years ago customers did not have preferences in terms of parking, some different infrastructure requirements, today consumers already want that in the project where they buy housing, they should have both parking and different types of

infrastructure to do everything in one project. Developers have also become more frequent in recent years, when instead of 1 or 2 buildings, we are dealing with more neighborhood-type development, when they offer customers not only housing, but also the complete infrastructure that is needed for a person. In this context, I would like to single out the approval of

GALT & TAGGART has been operating in the market for years and helps all entities working in the urban field to do marketing analysis and make the right decision.

A: “While talking about supporting urban development, I will highlight the general plan and the transport system. In recent years, one of the most important things that has started in Tbilisi has been the regulation of the transport system, which means the renewal of both roads and public transport. In recent years, it is already ecologically noticeable indeed, the number of cars is growing at a very high percentage every year, while the population of the city is not growing so much. Consequently, we see that there are more cars per capita in the city and it is becoming more and more inconvenient to drive your own car, therefore it is on the agenda to have regular public transport and roads. If we observe, a bus lane is added to some new street in the city every day, which is the

most important component for urban development. Over time, as has happened in the big cities of all developed countries, it will be inconvenient to drive our own car. For this it is necessary that this transport infrastructure, both roads and lines, be it the subway or the bus be properly distributed between the suburbs or the central parts of the city, because as I mentioned in the general plan more projects will start in the suburbs in the coming years. It is therefore essential that there be adequate public transport links between the suburbs or central districts of the city, where there are typically major office spaces. These trends will intensify in the coming years as the rate of economic growth grows and develops further.”

Q: What are the main challenges of urban construction? A: “In terms of urban development in general, not only do the regulations change the development of the city, but also the supply side, i.e., the investors because they saw certain changes in the preferences of the consumers. As I mentioned, if earlier consumers preferred street retail 10 years ago, today people prefer to have a single shopping space in all the different options be it shopping, fun or so on. It can also be said about the residential real estate component, i.e., people need not only housing, but also complete infrastructure to decide to buy an apartment in this or that project.”

Q: What is your opinion on foreign investments in urban development in Tbilisi? A: “Foreign investment is very important not only for urban development but also for the country's economy in general. We have seen this many times in recent years when the main driving force of economic growth was precisely foreign investment. In real estate, especially commercial real estate, we are actively observing that there is a lot of investment in this area, and we have high hopes that foreign direct investment in both residential and commercial real estate will continue in the future.”

Q: What are “GALT & TAGGART” priority issues and future plans for Tbilisi’s urban development? A: “Galt & Taggart, as in the last few years, will continue to provide the market with the information and analytics it needs to make informed decisions. We see our mission and role in this direction to provide people who want to invest with proper and high-level analytics to make the right decisions.”

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SHORENA DARCHIASHVILI , PHOTO BY LASHA GHUGHUNISHVILI

If You Realize That You - Yourself Would Live Happily - Such a Project is Always Successful White Square in Urban Development by The FINANCIAL

hite Square is a development company owned by BK Holding. BK Holding incorporates the construction company BK Construction, the construction college Construct2 and the development company White Square. Therewith, BK Holding has lately invested in a factory of the production of energy efficient and refractory building blocks. BK Construction is a leading construction company in Georgia with the vast experience of 30 years. Shorena Darchiashvili, CEO of White Square, talked about the company's role in urban development, underlined their main vision and future plans of the White Square in terms of urban development. Q: In the modern world, urban development is becoming more and more of a priority. What contribution does the "White Square" make to urban development? The development company

"White Square" has appeared on pany at this stage is to adapt to is the municipality that creates the market for 2 years. "White the rules and frameworks for the this changing environment and Square" is a flexible, customerproper development of the enoffer customers solutions both oriented brand with 20 years of vironment. Then the developers in terms of project and payment management group experience who directly create the product. terms that will not be at the behind the company. As a result At this time it is very important expense of quality compromise. I of this experience, for the develwe think we are oper to make a delivering welldecision to crethought-out, errorate a healthy “Each of our subsequent projects free and trialenvironment based solutions to for a person are more in line with international our customers, so to be both standards. One measurement always the final product mentally and our resident gets physically welljustifies. If you realize that you is tailored to both being. yourself would live happily, such a the urban environOnce the ment and ecology order received project is always successful. of the city as well from the real All our projects that we are working on as the rhythm of estate develmodern human oper company and planning are and will be carried life. is transferred out through this prism.” We believe that to the archithe main goal and tectural and task of a respondesign studio, sible developer It is important should be to prothat the project would call this uncompromising vide more informed customers design / planning process is not construction. who will not stop at a project guided only by the rules set by the where the important aspects of municipality, but also to conQ: Who is responsible for a healthy living environment are stantly remember that it creates developing the right urban ignored. Consequently, our coman environment for people and to environment? pany pays great attention to this take into account all the details part when communicating with that are important for comfort. The urban environment has its our customers. And finally the person for participants and each of them is In my opinion, the main chalwhom the environment is crelenge for a development comequally important. First of all it ated. We should all be well aware

that maintaining the environment that the developer will meet is based on our daily actions. Q: Processes introduced and implemented by the "White Square". I would like to mention that our team has extensive experience in collaborating with international financial institutions to obtain alternative funding for projects. Within this funding, it has always been important for the residential development project to be energy efficient, adapted, equipped with fire safety systems and built with environmentally friendly technologies. These experiences were taken into account in new projects as well, and each subsequent project was more in line with international standards. One measurement always justifies. If you realize that you yourself would live happily, such a project is always successful. All our projects that we are working on and planning are and will be carried out through this prism. Very soon another interesting place will appear in Tbilisi. Filigreen by White Square.

HEADLINE NEWS & ANALYSIS FINCHANNEL.COM | June 27, 2022

urban tbilisi 2022

marketing, research, survey...

HEADLINE NEWS & ANALYSIS June 27, 2022 | FINCHANNEL.COM

HEADLINE NEWS & ANALYSIS FINCHANNEL.COM | June 27, 2022

marketing, research, survey...

urban tbilisi 2022

Time Shifting

by SOPHIO LEZHAVA, TMI

cess to premium channels with time-shift TV increased the total household consumption of TV through the viewership of both live and previously aired programs. Having time-shift technology did not change the amount of time consumers viewed live TV, but it did boost the concentration of total TV viewership because viewers used the technology disproportionately more to watch popular programs. The study also found that time-shift TV was used more frequently for watching TV programs and movies, and not as frequently for watching sports and news. Despite the rise of time-shifting and the influence of social media in today's world, viewers are still much more inclined to watch sporting events live – after all, in today’s digitally connected world, it's easy to accidentally find out the results of the match before watching it. A study from Nielsen confirms that 95% of total sports viewing happens live. To put it into perspective, sports accounted for 93 of the top 100 live-viewed TV programs last year, compared to just 14 a decade earlier. According to a study published by Glance/ Médiametrie in 2019, the average age for timeshift viewers is almost 50 years old. The study found that the older population that watch TV as a time-shifted audience in the UK and the

Historians cite television as one of the greatest inventions of humankind. The introduction of this new medium occurred at the beginning of the 20th century after scientists in the United States, Japan, and the Soviet Union successfully transported pictures using electric rays. The mass use of television came about in the mid-20th century. By the time the 1970s rolled around, television had spread worldwide. Today, television knows no bounds. There is no country in the world where TV broadcasting doesn’t exist. It is hard to imagine that approximately 100 years ago, there was no television. Television has evolved over the years, and today it is an integral part of our lives. It is the best way of transmitting information. Television has drastically influenced the development of society, and its influence continues today. Modern television offers audiences many channels featuring a diverse array of programming. Innovations in television expanded in the 21st century. For decades, viewers watched their beloved TV programs at the exact time they were broadcasted. Today we have a more flexible viewer-oriented alternative. We can watch TV shows, news, and films whenever we want. This function is called time-shifting, or better known as “rewind.” Every day more and more people use this function. The first steps in this direction were made in 20th century. Digital video recorders were already in use when, in 1999, devices, that could stop live streaming, were sold at an electronics show in Las Vegas, Nevada. At the start of the 2010 ratings year, OzTAM, an Australian audience measurement research firm, introduced its Time Shift Viewing service in response to the increasing presence of personal video recorders (PVRs) in Australian households. It was the most significant change to the country’s television audience measurement since people meters were introduced in 1991. OzTAM's Time Shift Viewing service captures viewing of television broadcasts played back at normal speed through the TV set within 28 days of the original broadcast. It was also possible to use the pause function while live-viewing. Nielsen researched which thinking patterns viewers use while rewinding. Research showed that alternative way of watching TV made viewers more patient. The time-shifting option has widened television viewer’s audience. If we include a wide array of television watching, than we must include all kinds of viewers. In the first quarter of 2019, American TV watchers 18 and above spent four hours a day viewNetherlands is larger than the one in France ing time-shifted broadcasts. Time-shifted broadcast television is watched and Spain. In all countries, time-shifted view30 minutes per day on average in the UK ers were on average 7 years younger than live(15.6% of the total figure), US audiences watch viewers. An online interview conducted in 2021 in 3:27 hours a week, measured against 26:05 hours of live TV, and in 2019, 7.8 million Japan showed that 60% of Japanese men between the age of 50-59 years frequently watch French viewers used TV with time shifting. Jaa catch-up service pan showed different results to watch programs from Europe. In Japan, it (13% more than in In 2016, in the United States recorded the highappears that time shifting 2017). est percentage of time-shifted viewing among is more popular with older In the 2018 study prime time cable networks: people than it is with the conducted by reyounger segment. searchers at CarnMSNBC 19% With a steadily growing egie Mellon UniFood Network 15% percentage of viewers watchversity, Erasmus Fox News Channel 12% ing time-shifted television, University RotterUSA Network 12%, advertising companies have dam, and Católica TBS 12% had difficulty targeting this Lisbon School of CNN 11% audience segment. The main Business and Ecoreason is the ability of the nomics, the reThe biggest broadcast programs in 2016 were: time-shifted viewers to skip searchers used a Caught on Camera with Nick Cannon, NBC 89% over the ads and watch only randomized control Jimmy Kimmel Live, ABC 88% the programs. trial that involved caDateline: On Assignment NBC 87% If we look back at the hisble customers from America’s Funniest Home Videos ABC 86% tory, we’ll see that the name more than 50,000 The Carmichael Show NBC 85% “soap opera’’ itself originated households. Some from the first advertisers of the households of dish and washing soaps. were given premium Since the advent of radio, TV channels for six weeks. These channels included popular mov- programs were funded so they could reach ies and shows without commercial breaks. In their audience. Viewers of this kind of prosome households, consumers were provided graming were mostly housewives, exactly the access to time-shift TV, which allowed the re- audience segment the advertisers were intersearchers to observe the effect of the technol- ested in. Worldwide, advertisers of certain products ogy on consumers’ consumption of TV. The study found that on average, having ac- pay channels to broadcast their ad-videos,

which we watch for free. However, because of time-shift viewing, it became more difficult to reach the target audience segments that will buy their products and use their services. Over the years, TV-monitoring companies found a way to account for the viewers who not only watch live TV, but also those using time-shifted viewing for 24 hours and up to one week. The rewind function has become increasingly popular in Georgia. Tri Media Intelligence was the first organization that started measuring time shifting in 2016. The company was also was first to measure guest viewing. For the last couple years, information about advertising time is sold with accounted time shifting and guest viewing. Based on data gathered by Tri Media Intelligence, from 2018 to 2022, the annual average of time shift viewing sits at 11%. In 2020 and 2021, this number reached 12% and 13% respectively. This rise can be explained by the COVID-19 pandemic. During the lockdown, TV set use has increased overall and time-shifted viewing has also increased. This growth can be explained by the increased use of IPTV, which differs from conventional cable TV in that it is delivered to users in Tbilisi and six other cities of Georgia (Rustavi, Gori,

Batumi, Kutaisi, Zugdidi, and Poti) via a computer network-based technology, e.g. Silknet and Magti. From 2017 to 2020, IPTV (Television, which instead of traditional or cable broadcasting is provided to the customer with technology created for computer networks, for example: "Silknet", "Magti") usage in Tbilisi grew from 40% to 53%, and in the other six cities from 34% to 68%. Graph 1: Time Shifting Viewing %

Five years of research showed that in seven Georgian cities (Tbilisi, Rustavi, Gori, Batumi, Kutaisi, Zugdidi, and Poti) the most viewed time-shifted channels are Imedi, Mtavari channel, GDS and Rustavi 2. It is worth mentioning that from year to year, the average age of time-shifted viewers is increasing. On the second chart, we can see that in 2018, the average age of time-shifted viewers was 41 years, and in 2021 and 2022 the average age is 45 years. Graph 2: Time Shifting Viewers Average Age

In 2018, the most “rewound” genre was movies, but from 2019 to 2022, TV series became more “rewound” genre. For Georgian viewers the least popular time-shifted viewed genres are cognitive and sports. In Georgian television, from 2018, the absolute leader in “rewound-watched” shows is Georgian TV series “My Wife’s Girlfriends “. For last 5 years, it was always on the first place of rewound TV shows.

Guest Viewing by SOPHIO MAKHARADZE, TMI Media research shows us, that people enjoy watching TV in groups. Some authors think that watching TV in groups is a kind of social activity, because the value of any TV show is measured by the amount of social interactions it has generated. Watching TV in groups boosts both direct and indirect communication. Direct communication is when, right after seeing the movie with friends or family you have conversations with them. Indirect communication is when the conversation takes place the next day at the office with your Colleagues. Based on 2008 Survey in US, most people watch TV in groups because of social interactions. On these occasions, most popular genres were animations, sports events, documentaries, adventure films and reality TV. Respondent’s answers show that some aspects of TV shows were promoting social interactions more than others. For example, “cheap movies” give plenty of cause for interaction. There is no doubt that watching TV can be ticket to talk, because TV shows give people information to talk about. In 2020 BARB (Broadcasters Audience Research Board) reports viewing by guests in a panel household, for instance if the household has friends around to watch football or children for a play-date. Our data show that the percentage of panel homes reporting any guest viewing in a week is around 9% during lockdown (based on the start of lockdown until the end of May), compared to 21% for the same weeks of 2019. This drop is perhaps not surprising, given the lockdown restrictions on inviting friends and family into your home. The biggest impact is at the weekend: on a typical Sunday in April-May last year, around 8% of panel households would have guests visiting and watching TV, compared to 3% for Sundays in lockdown this year. Further analysis by RSMB shows that despite the lower proportion of homes reporting any guest viewing, the homes that are still seeing some of this activity are reporting it happening more frequently. Averaged across the first ten weeks of lockdown, 18% of the homes that registered any guest viewing in a week reported that such viewing happened on every day of that week; by comparison, the figure for the same weeks of 2019 was just 5%. This indicates the presence of long-term guests in some homes, whether that be a student unexpectedly home from university, or a caregiver moving into a panel home for the lockdown period. In Georgia “tri media intelligence“ was the first organization, which started measuring guest viewing in 2016. “Tri media intelligence” also was first in measuring time shifting viewing. For last couple years information about advertising time is sold including time shifting viewing and 18+ viewers number. In Georgia, from 01.01.2018 to 01.06.2022 Average of guest viewing was 5%. During the pandemic, it dropped only from 6% to 5%. The tendency in Georgia is different from the tendency in UK where this number decreased from 9% to 3%. Before pandemic, in 20182019 guest viewing was 6%, after the pandemic began in 2020 gust viewing dropped to 5% and it stayed at the same level in 20212022. It can be explained by having regular gusts. For example, daughter, who got married but still visits parents often, or grandkids or maybe neighbors. Households in “Tri media intelligence” panel show that 61% of gust viewers are women and 39% are men. Guest viewing is most popular in 25-34 age group and takes up 30%. 55-64 age group shows least guest viewing percentage - 7%. Based on the data of the last 5 years (01.01.2018 – 01.06.2022) in 7 large towns of Georgia, the most guest viewed TV programs are serials and news. Only in the year of 2021 talk shows were more popular then news. It is also interesting to see which particular TV shows were the most guest viewed in these last 5 years. Most guest watched channel is ,,Imedi TV”. In 2018 most watched program was serial ,,mother” (34 000 guests), in 2019 weather ( 29 000 guests), in 2020 first place took serial ,,once in Chukurova” (42 000 guests), in 2021 most watched TV show was ,,Imedi’s week”(32 000 guests) and this year, up to 01.06, leading program is ,,our show” with 16 000 guest watches.

urban tbilisi 2022

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Villa Residence Attracted $200 Million Investment This Year For Georgia’s Urban Development The company “Villa Residence” was established in 2010. The priorities were obvious – the highest ecological quality, landscape characteristics. The company is successfully operating in the construction market. Due to the demand for the project, the company Villa Residence” has made a multi-million investment and purchased 12 hectares of land. The company continues to implement an innovative project.

As for employees, we have the ambition to be the preferred employer in our sector and beyond. We are constantly retraining and raising the qualifications of our employees . We also run a variety of activities for our employees to increase their motivation and build a better team. Q: Which successfully implemented

projects would you single out in 2020-2022, which contributed to the urban development of Tbilisi?

A: The company made large foreign investments in 2021. We started cooperating with up to 100 subcontracting companies and employed hundreds of citizens. Today we have the first resort-type settlement in the capital, where we are working on a number of innovations, including the construction of a natural sand swimming pool, which will also have an imitation of sea waves. Construction of the pool will be completed this summer and you will not find an analogue across the country.

Q: What is your opinion on foreign investments in urban development in Tbilisi? A: Foreign investment is very important for the economic development of the country. It is necessary to create many such projects in the city that will be attractive and interesting for investors. In addition it will adapt to the infrastructure and appearance of the city. I think the priority for any developer company should be to contribute to the proper, urban development of the city, which makes Tbilisi an investment opportunity.

In an interview with The FINANCIAL Alexandre Namoradze, director of Villa Residence, talked about the Villa Residence’s role in urban development, its main achievements, interesting projects and future plans of the company. Q: Tell us about Villa Residence, how many years has it been operating in the market? A: Villa Residence has been operating in the construction and development market for 12 years. The company was founded in 2010 and has been engaged in development activities ever since. For now, we have completed the development of an area of 8 hectares. Villas, lowintensive residential complex, townhouses and hotel-type buildings are located in this area. From the day the company was established, our main goal was to create an ecologically clean district and a project that would meet all modern requirements and challenges. This is our main driving force.

Q: What is the Villa Residence's contribution to urban development as one of the most priority issues for the country? A: The company has developed a general development plan, which we have been following successfully for years. We planned the project on an untapped area and started building villas for the first phase. In the process of creating our project, the idea was formed to create a living environment that other developers could not offer to customers. We set a goal to create the first resort-type settlement in an ecologically clean area, where residents in one space, in addition to the living environment, would enjoy a variety of infrastructure and sports activities. It is for this purpose that we have developed the concept of 70/30, which implies a 70% recreational area and a 30% low-intensive development. Project, Krtsanisi Resort Residence is distributed to 800 inhab-

Q: What sets Villa Residence apart from other competitors?

ALEXANDRE NAMORADZE itants. The complex includes a school, a kindergarten, a shopping center and a commercial building. We are proud that over the years we have been able to turn an untapped area into a prestigious residential district. Our goal is to bring a number of innovations to the market, which means that we will take many more important steps for the urban development of the city.

Q: What activities can you name as an example of supporting urban development in Georgia? A: According to our architectural plans, the project fits into the landscape and not the other way around. We provide the cultivation of recreational zones, as well as the preservation and maintenance of the existing forest. We focus on low-intensive development. Last year, the project Krtsanisi Resort Residence attracted an investment of $ 200 million, which is an important factor not only for the company, but also for the

“Ecology is a key factor for us, which is a priority at any stage of project development. Proximity to nature is vital for any person, both our physical and mental health. We want to create a resting, green zone for people and promote the cultivation of new, vibrant neighborhoods in the city.” country's economy. Every step we take is related to the creation of an infrastructure and microclimate that will give the residents a special coziness and harmony. Residents have the feeling of living outside the city, although the project is 5 minutes away from the city center. A microclimate is created in our area, which is provided by a unique variety of trees. Villa Residence creates a unique living environment, as evidenced by the existing infrastructure - swimming

pools, gyms or playgrounds in various sports.

Q: How does Villa Residence measure customer or employee satisfaction? A: We periodically conduct customer satisfaction surveys at the company and plan various types of marketing activities based on the results. Of course, we also take into account their wishes when developing payment terms.

A: In today's market, the competition in the real estate sector is fierce. Our advantage does not lie only in the individual details. We create a combination of advantages in Krtsanisi Resort Residence, which makes the project especially attractive. The advantages include high quality building materials, modern construction technologies, infrastructure of the complex, which combines a 45-meter pool with sandy beach and sea waves, tennis, basketball, football, golf and sand volleyball courts, fitness center, horse stable and other sports facilities. Coniferous and olive trees have already been planted on the territory of the complex, which cover an area of more than 2 hectares. In addition to creating all of this, it is also important that we reserve common areas of management and take full responsibility for their maintenance.

Q: What are Villa Residence priority issues and future plans for Tbilisi’s urban development? A: Our main plan for the future is to keep moving fast towards the goal. We want to create a resting, green zone for people and promote the cultivation of new, vibrant neighborhoods in the city. Ecology is a key factor for us, which is a priority at any stage of project development. Proximity to nature is vital for any person, both physical and mental health. Future plans also derive from this concept. We work on a number of innovative, large-scale projects, entertainment and recreation areas, which will benefit not only residents but also our citizens.

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FINCHANNEL.COM | June 27, 2022

ProCredit Bank in Urban Development

First Georgian Bank with EDGE International Certificate For Energy and Resource Efficiency By The FINANCIAL

throughout Georgia. In addition, we plan to introduce the Carpool practice of employee departure in the Bank to use the available resources as efficiently as possible. Carpooling is one of the best practices in urban development solutions. Our company's decision to contribute to such practices serves the aim to use all the possible means to achieve the final goal - to improve the air quality in the city and the country. We strive to set an excellent example for others to follow, especially in a city like Tbilisi, with the high number of cars during the rush hours. In addition, we encourage our clients to use more environmentally friendly solutions during construction. For example, thermal insulation of the house is essential for efficient electricity consumption in the living environment. By insulating the exterior walls, roof, and floor by installing triple-glazed windows, it is possible to reduce carbon dioxide emissions by up to 50%. The investment also significantly reduces the monthly cost of heating and air conditioning. The result benefits both the builder and the potential buyer of the apartment and, most importantly, the environment, the city, and each citizen. In addition, investing in installing a renewable energy source, particularly solar panels, has a positive impact on the environment. This allows customers to replace their traditional source of electricity with constant and clean energy. Implementing the solar power plant project is attractive both in the residential building and in the conditions of your own house or cottage. In this regard, as I mentioned, the Bank has accumulated considerable experience and supported several successful investments. Recently, the efficiency of this investment has increased significantly, as the payback period has been reduced to 5-6 years.

Alexander Jashiashvili, Head of the Environmental Management Unit in ProCredit Bank, talked about the ProCredit Bank's role in urban development, its main achievements, and interesting projects in this direction in an interview with The FINANCIAL. In this article, you will see the central vision and plans of ProCredit Bank in the direction of urban development. Q: Urban development has become one of the priority tasks nowadays. What does "ProCredit Bank" do in this regard? A: ProCredit Bank is a member of the international group, operating in Georgia by German standards for more than 23 years. The Bank has been introducing European social, ethical, and environmental approaches to the country over the years. In order to achieve the goals of sustainable development of small and medium businesses, we pay great attention to environmental and social issues in our activities. We strive to minimize the negative environmental impact of our partner businesses. We advise businesses to achieve this goal and offer professional advice and access to finance.

Q: What is the role of the ProCredit Bank as a responsible financial institution for achieving green goals in the Urban sector? A: ProCredit Bank has been a leading financial institution in green financing over the last decade and has actively contributed to awarenessraising. As a responsible financial institution, we assess the environmental and social risks associated with doing business at the lending stage. Thus, we help raise awareness

ALEXANDNER JASHIASHVILI

HEAD OF THE ENVIRONMENTAL MANAGEMENT UNIT, PROCREDIT BANK

in the business sector, create ecological standards and improve existing ones. The Bank has financed the construction of a number of solar power plants, and such a station is located on the roof of our head office. Our head office building is the first in Georgia to receive the EDGE International Certificate for Energy and Resource Efficiency. Following our example and in cooperation with international companies, we offer our customers the

ProCredit Bank is a development-oriented commercial bank that offers excellent customer service to small and medium enterprises and private individuals who can save and prefer to do their banking through electronic channels.

"ProCredit Bank is willing to create a better, healthier environment in our capital as well as throughout the country by financing a more energy-efficient and environmentally friendly project.".”

"EDGE Building Certification Program." Building certification confirms the energy and resource efficiency of the building, which means that it consumes less energy and other resources than a standard building. In addition to gaining this advantage in the local market, the company that owns the certified building is also becoming more attractive to investors.

Q: In addition to the Edge certification project, which other successfully implemented projects would you single out in 2020-2022, which contributed to the urban development of Tbilisi? A: We evaluate the effectiveness

of environmentally friendly investments before they are offered to the public. The first beneficiary of any project before launching is ProCredit Bank. For example, we started the electric car project a few years ago with the renewal of our fleet. Because of gradual replacements today, our fleet consists of only electric vehicles. To make the decision easier for the customer, we arranged the infrastructure so that it could be moved from east to west by electric car without any problems. We have created a network of free charging stations

Q: What role does the finance sector, especially ProCredit Bank, have in the future of the city's urban development?

A: ProCredit Bank offers special terms to its customers to purchase an energyefficient living environment or improve existing conditions. In addition, German Bank offers financing solar panels without additional collateral, cash-back program support, and technical support. It is especially noteworthy that the energy efficiency of the building is achieved both by taking appropriate measures during construction and by transforming the built living environment into a resource-efficient. ProCredit Bank is willing to support more energy-efficient and environmentally friendly projects in the country and provide easy access to financing for SMEs and private individuals.

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June 27, 2022 | FINCHANNEL.COM

"Axis Towers" -

Georgia at a new height Axis Towers is a joint project of Axis and the Georgian Co-Investment Fund, the volume of investment into which exceeds $ 150 million. The multifunctional complex, the opening of which took place a few days ago, received highly positive reviews from representatives of various fields. One of the largest projects in the recent history of Georgia has already become a new landmark of the capital. "Axis Towers" consists of a pedestal and two identical, but at the same time, different towers. Each subsequent floor rotates 2 degrees relative to the lower floor, while the towers themselves mirror each other. The White Tower is entirely residential, while the Black Tower houses an A Class business center and various infrastructure. The scale and functional designation of the complex are also noteworthy. Axis Towers combines 5 development directions simultaneously: residential, hotel, office, commercial and entertainment. In addition, Axis Towers is the first World Trade Center in the region.

The largest business center in the capital, spread over 17,000 square meters and located in the black glass tower up to the 19th floor, is equipped with modern infrastructure and services. Here you will find the largest conference hall, 7 meeting rooms and various spaces, including one of the largest ballrooms in Tbilisi, with an area of 800 square meters. It has 4 simultaneous translation booths and a reception area with a terrace. In the glass tower, starting from the 19th floor, is located a 5-star business tourism oriented hotel "Pullman", with 220 rooms with industrialmodernist design. Pullman is owned by the Accor Group, which considers Axis Towers's Pullman's hotel as its flagship hotel. It stands out from other 5-star hotels with both spatial arrangement and creative solutions. On the 36th floor of the hotel is located a high-class French restaurant „Dumas“, while on the 37th floor, at the height of 140 meters is located a sky bar „Weather Report“. Both of them are always open for the visitors.

Apart from that, in the pedestal part is located the largest wellness centers in Tbilisi: a 25 meter long swimming pool, with retractable roof and open terrace, as well as professionally equipped fitness and spa center. Axis Towers’s another remarkable feature is the pedestrian street, which starts from Chavchavadze Avenue and joins Abuladze Street through the building. The street is up to 80 meters long and 20 meters wide. Here you can have lunch or unwind just with a cup of coffee. This space also houses 12 restaurants and 7 bars for people of all tastes. This space will not only attract local or foreign tourists, but also offer a real gastronomic journey to business representatives. Axis Towers has created a kind of a business suburb in the center of the capital - the Downtown. As a result, Tbilisi's tourism concept, which starts in the old part of the capital, found it continuation on Chavchavadze Avenue, and Axis Towers became a new tourist attraction.

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“Tbilisi As a Leading City in Europe, With Outstanding Infrastructure and Transport” continued from p.3

vili Street and Qetevan Dedofali Avenue are noteworthy. Also, Melikishvili Avenue is being rehabilitated. In addition to the above-mentioned projects, the transport infrastructure on dozens of streets is being updated and improved every year.

Today Tbilisi is a much greener, healthier, more comfortable and orderly city, where illegal constructions are eliminated; we have modern, high-quality public transport, which is further regulated and further developed, in addition to social programmes tailored to the needs of Tbilisi citizens

Q. What role does business, especially big tech companies, have in the future of the city’s urban development? A. Creating a long-term and equitable competitive environment is crucial for the private sector. That is why we have adopted a master plan, which on the one hand is an urban planning document, and on the other hand, given the existing constraints, is a business guide to determine what type of development is allowed in which area and where it is better to invest.

Q. Good governance at any level requires the strong support of constituents. To get this support, what values, policies and virtues do you espouse in your own city and what programmes do you have (or are planning to have) to apply them? A. To get this support, the city policy is based on solving the social problems of the population and improving living conditions. In particular, programmes for the compensation of those individuals affected by cooperative housing, unfinished construction and the replacement of damaged buildings have been developed. Also, on 6 May, 2022, the rule of replacement of damaged multi-apartment houses came into force, which will give people the opportunity to replace buildings that are life-threatening with new ones, with the participation of the municipality.

Q. Parking is one of the biggest problems for the population today. Are there any plans to expand underground parking or build a multi-storey European-style car park in future projects? A. As already mentioned, our goal is to evenly distribute the urban space. The focus of modern cities has shifted to reducing parking areas, as parking encourages the movement of private cars. With us, parking is mostly free or very cheap, so the involvement of the private sector in this area does not happen. This does not mean, however, that this is not feasible. We believe that with the improvement of the social background, the private sector will be activated and we will use the space of the municipality more effectively.

Q. What are the main challenges of urban construction? A. The main challenge for urban construction is to discuss the development of chaotically privatised land. For a balance of interests, in such cases it is necessary for the municipality to make concessions. At this time it is necessary to take into account, on the one hand, the interests of private owners and, on the other hand, the interests of public and urban planning. Today, in the process of resolving such issues, we are guided by these principles.

Q. Do you think urban development will restrict the movement of cars and what positive impact will this have on the environment? A. First of all, I would like to emphasise that the aim of the municipality is not to

impose any kind of restrictions. Our goal is the equal distribution of the existing urban space in such a way that each participant of the traffic has an alternative choice of movement and equal conditions. Depending on the scale and planning of our city, one acceptable model is the 15-minute city concept or the same micro mobility model. For example, Paris, as a densely populated city with a high degree of air pollution, used this concept to its advantage. In particular, if the destination is located within a small radius, all conditions are created for the eco-friendly means of transpor-

tation to be used (for example to travel on foot or to use non-motorised transport). Consequently, fewer vehicles means less emissions and this will have a positive impact on the environment.

Q. Which successfully implemented projects would you single out in 20192022 which have contributed to the urban development of Tbilisi? A. Among the projects implemented in 2019-2022, the rehabilitation works of Chavchavadze Avenue, Vekua-Khizanish-

Q. Should Tbilisi authorities focus on improving public transport and reduce demand for private cars, or should they capitalise on expanding the roads and highways? A. Once again, our goal is not to impose restrictions, but to create a level playing field in the city. Consequently, along with the improvement of public transport, various forms of transportation should be encouraged, which cannot be achieved without the provision of appropriate infrastructure.

What Legislative Changes Have Been Made in Terms of Urban Development? Continued from p.2 Another change introduced in this legal regulation is that balconies are not included in the KA2 reporting area. When this ordinance was passed in 2016, it was then determined that balconies should be included in this reporting area. Due to the fact that we introduce different regulations from year to year, as well as increase and impose certain fees, tighten safety rules, it was a somewhat mitigating circumstance for the private sector and gave them the opportunity to no longer enter balconies in the KA2 reporting area. This will lead to the possibility of increasing the space by 3-5%. However, it all depends on the project. We

have set a limit here that if the total area of balconies, in general, exceeds more than 20% of the total KA2 reporting area, then that part of the balconies will again be included in the KA2 reporting area as it was before. We have made an amendment to the same legislative resolution, which obliges each permit seeker, except for individual dwellings, to allocate special places for heating and cooling installations, in order not to further distort the appearance of buildings. It was very common in practice to attach the equipment to different places. This will be a legislative requirement. In practice, the Architecture Service required all of this before this legislative resolution, although there

has been no legislative requirement for this until now. The same legislative resolution also defined specific compensatory measures for the placement of a residential function in public-business zones under a special zonal agreement. In the community-business zone if we want to arrange more living space than the allowed proportion of living space, in this case, the permit seeker has to compensate the municipality, this is 4% of the transferred space which has to be handed over to the municipality. It is possible to transfer the space to the municipality, which will be used for its intended purpose by the next municipality, or it is possible to compensate the municipality in the form of money.

Amendments were also made to the 41st Legislative Resolution of the Government of Georgia in 2016, in order to simplify. Specifically, the requirements for parking were simplified: the width of the highway or ramp became 6 meters instead of 6.5 meters for two-way entrances and exits. The inner radius of curvature of the motor ramp became 3.5 meters instead of 4.5 meters. The minimum lengths of parking lots have been reduced. Now I want to highlight the planned changes. We plan to increase the construction permit fee from GEL 4 to GEL 10 per square meter of K2 reporting area. However, we will not set this maximum number in the first stage. For next year it will be 6 GEL, then 8 and

10 GEL. Accordingly, this fee will be increased in stages. In terms of compensation, we have developed some concessions for the private sector, which I have already talked about in detail. And another planned reform implemented by the Ministry of Internal Affairs Emergency Service is that they plan to add requirements for hydrants and fire fighting access roads, which are very important. Previously, these requirements did not exist in this legislation and the Emergency Service used the fire regulations of Soviet times. Therefore, it is very important to define and include modern requirements in the legislation. All this will be very important in terms of regulation.”

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'The city with its history and culture helps us to attract tourists' Tell us about your company, what services does Wyndham Grand Tbilisi offer to customers?

trolled constructions and environmental problems, air pollution and loss of green spaces can be the main challenges.

Wyndham Grand Tbilisi is a 5-star hotel in the center of Tbilisi, near Freedom Square, on Gudiashvili Street. The hotel has 158 rooms of 9 different categories including 2 presidential suites, 3 conference spaces, and a ballroom with fascinating panoramic city views, a restaurant and a spa & wellness center. As a part of an enormous chain of Wyndham Hotels & Resorts, Wyndham Grand Tbilisi has a mission to create and manage a place which our guests will be happy to visit again and again. This mission, along with our values, guides the way we do business every day.

How can you evaluate the government’s role in urban development? First of all, I would like to say that the government plays a vital role in urban development. We have many examples from the whole world and from Georgia too. Even the latest projects show that many things have improved here in Tbilisi. I would like to mention the renovation project of Chavchavadze Avenue and the alternation of public transport. These two projects in pair show that even the main districts can become more pleasant to walk, less traffic and more greenery can give us an opportunity to live a healthy life in our city.

How does Wyndham Grand Tbilisi measure customer satisfaction? Listening and responding to our guests' needs has been one of the forefront priorities of Wyndham Grand Tbilisi since its opening. Every day we receive reviews on many online platforms from our customers. Besides, it is noteworthy that Wyndham Grand has its own platform – Wyndham Rewards, where we receive feedbacks from our customers directly. Our team always takes into account the comments of our customers with HEART approach (meaning hear, emphasize, apologize, react and thank); we try to improve from day to day. Wyndham Rewards gives us a possibility to offer the best prices and proposals to our customers and somehow appreciate their loyalty.

What is your opinion on foreign investments in urban development in Tbilisi? Foreign investments boost the manufacturing and service sector which results in the creation of jobs and helps to reduce unemployment rates in the country. Increased employment translates to higher incomes and equips the population with more buying powers, boosting the overall economy of a country. On the other hand, for us, as for one of the representatives of business sector, the competition levels raises. We are always ready for this challenge, competition makes us grow and develop, and competition is one of the keys to the future.

What is Wyndham Grand contribution to urban development as one of the most priority issues for the country? As we all know, tourism plays an important role in Georgian economic; it has an important share in GDP. As a hotel that can host more than 300 guests at one time, I think that, Wyndham Grand Tbilisi is an important spot in our city. Hotels like us can create an environment, which the international tourists are eager to visit. Wyndham Grand Tbilisi has an ambition to be a venue that takes part in the development of the hospitality sphere and tourism industry.

What activities can you name as an example of supporting urban development in Georgia? In the 21st century, it is vital for the businesses to think about green direction in urban development. Wyndham Hotels & Resorts developed the Wyndham Green Program that reduces operating costs through efficiency, drives revenue from environmentally conscious business travelers, remains competitive in the market and increase brand loyalty. We strive to fully integrate the Wyndham Green Program throughout our value chain by engaging and educating our team members. The combination of industry best practices and engagement aims to deliver triple bottom line results. The

What sets Wyndham Grand Tbilisi apart from other competitors?

MEDEA KOBAKHIDZE, GENERAL MANAGER OF WYNDHAM GRAND TBILISI Wyndham Green Program consists of three integral components: Wyndham Green Toolbox, Wyndham Green Certification and Wyndham Green Housekeeping. Moreover, Wyndham Grand Tbilisi recycles plastic and glass, so that we optimize the waste amount to minimum.

How does Wyndham Grand Tbilisi measure employee satisfaction? Our signature “Count on Me” service culture encourages each team member to be responsive, be respectful and deliver great experiences to our guests, partners and communities. If an employee feels discomfort in his work-environment, it is almost impossible for him to make the job well. So for us, employee satisfaction

is crucial. We measure the employee satisfaction by the outflow rate in our company, which varies from 5% to 10% annually. Moreover, we have anonymous questionnaires quarterly, in which our employees rate their working environment, their team and chiefs. We always take their feedbacks into account. For us, the satisfaction of our employees is one of the key matters.

What role does business, especially Wyndham Grand Tbilisi, have in the future of the city’s urban development? The connection of business and urban development is very solid, without each other these two parts cannot exist. The city with its history and culture helps us to attract

tourists. With our effort and promotions, tourists arrive in Tbilisi. More tourists mean more touristic places, including restaurants, cafes, shops, galleries and etc. More people become employed and more income flows in our country. This chain is like a vicious circle and everyone benefits from it. Wyndham Grand Tbilisi is one small but valuable part of this chain and we are going to improve our positions in this direction.

What are the main challenges in the urban development direction in Georgia that needs to be improved? As one of the developing countries, Georgia has lots of challenges in the urban development, especially the cities. Rapid urbanization, uncon-

Assuredly, our hotel in total with its location and special spaces, including the panoramic dome area and ballroom, sets us apart from the competitors. But I would like to focus on Wyndham Grand values that include integrity, accountability, inclusivity, caring and fun. And, when we say it, we mean it! So besides the venue, our customers can count on the quality service.

What are Wyndham Grand Tbilisi priority issues and future plans for Tbilisi’s urban development? For the future, Wyndham Grand Tbilisi as one of the main representatives of hospitality industry can create jobs, offer better livelihood for the citizens of Tbilisi and improve social inclusion. The world Covid-19 pandemic had an impact on our business as well as on the whole industry, but Wyndham Grand Tbilisi is back on the market and desires to become one of the significant places in the heart of Tbilisi. Urban development and the total environment will assuredly benefit from our growth and success.

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HEADLINE NEWS & ANALYSIS June 27, 2022 | FINCHANNEL.COM

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