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How Lucrative is Aghmashenebeli Avenue?

Published: July 9, 2013 | 11:37 am
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Has Davit Aghmashenebeli Avenue become profitable for shops and other commercial enterprises? The renovated street was opened by the President two years ago. At the time, it was hoped within the government that the new Aghmashenebeli Avenue would become commercially lucrative. The real estate agency Kibe.ge has told TV3 that commercially, the most attractive areas in Tbilisi for businesses are the Saburtalo district, as well as the territory surrounding the Varketili and Gldani metro stations. However, Aghmashenebeli Avenue is also lucrative for businesses such as shoe and clothes shops. The prices for commercial property start from 30 USD per m². Staff at the real estate agency Galaga have stated that while the Vake-Vere-Saburtalo area of Tbilisi is particularly lucrative, Aghmashenebeli Avenue has also managed to establish itself as an attractive destination for shoppers. On the other hand, the director of the large Goro Group agency Giorgi Bervenashvili concludes that the area has struggled to offer serious competition to Pekini StreetMr. Barvenashvili claims that Aghmashenebeli Avenue is characterised by a lack of shoppers, low prices, and a high amount of unrented commercial space.

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