Georgian Co-Investment Fund’s (GCF) subsidiary Tbilisi Plaza LLC and H&M (Hennes & Mauritz AB), one of the world’s largest fashion retailers famous for offering fashion-forward apparel at affordable prices in a sustainable way, signed an agreement according to which H&M will open a store in Galleria Tbilisi mall in 2017.
Galleria Tbilisi is one of Georgian Co-Investment Fund’s (“GCF”) ongoing investment projects in hospitality and real estate sector, with a total investment size of US$80 M. The main construction works are underway and the grand opening of the mall is scheduled for September 2017.
H&M is the first retailer with which the agreement was reached. In order to make Galleria Tbilisi the most attractive shopping destination for the visitors, GCF and Tbilisi Plaza LLC will continue working on attracting more new retailers to Georgian market, offering them an opportunity to establish presence in one of the city’s most exclusive shopping districts. With this aim, Galleria Tbilisi will be presented at the world’s most prestigious international retail property annual exhibition MAPIC 2016 in Cannes for the second consecutive year.
About Galleria Tbilisi:
Galleria Tbilisi project envisages development of a modern, multifunctional shopping centre on Tbilisi’s prime high street, Rustaveli Avenue, in the heart of the capital city. Centrally located near the most important government and private institutions, museums and theaters, “Galleria Tbilisi” will be the best shopping location in Georgia. The shopping center is easily accessible for its visitors via number of public transportation and pedestrian access points. Its catchment area within 20 minutes’ drive is approximately 1,000,000 residents.
The design of the project was created by leading Israeli architect firm, “Moshe Zur Architects”, which has completed a range of impressive architectural developments including shopping centers in Europe’s capital cities. With its blend of classic and contemporary styles and exceptional construction quality Galleria Tbilisi will become a new landmark of the city.
Galleria Tbilisi will be a distinctive shopping center in many ways. The unique development is designed around Tbilisi’s two renowned theatres, the “Liberty Theater” and “A. Griboedov Russian Drama Theater” which will be integrated within the mall structure, making the center even more appealing destination for its visitors. The mall is also linked to the Metro Station “Freedom Square” granting metro commuters direct access to the shopping center.
Galleria Tbilisi gross leasable area is 22,000m² featuring 5 levels of retail space and a food court. The building will have an underground car park area with capacity of 300 parking spaces. The center will offer unique shopping experience to its customers. The current design envisages thematic categorization of the shopping levels: a grocery and specialty food store will be located in the basement, a mix of mid and upper-scale fashion, footwear and accessories brands on the ground, first and second floors and children’s wear, home accessories and sporting goods on the third floor. The fourth level of the mall will feature a food court with diverse restaurants and cafés, providing the widest choice of dining options in the city center. In addition, there will be a terrace with magnificent views over Tbilisi which will also serve as a venue for organizing special events.
With the unique brand mix, wide choice of dining options, event spaces, two theaters and a terrace with stunning views of historical part of the capital city, Galleria Tbilisi will be a new and exciting destination for tourists as well as for the local residents.
The grand opening of Galleria Tbilisi is scheduled for September 2017.
Public Relations Department
Georgian Co-Investment Fund
E: [email protected]