In recent years, Tbilisi has experienced a boom in the redevelopment of industrial zones. Former Soviet factories and plants in the city center are being transformed into premium loft spaces. This trend has not only changed the architectural landscape of the capital but also shifted the balance of power in the elite real estate market.
The phenomenon of lofts in the Georgian capital
The history of Tbilisi lofts began in the mid-2010s when developers started paying attention to the abandoned industrial buildings in the Sololaki and Chugureti districts. The first landmark project was the reconstruction of the Zarya tobacco factory, which produced apartments for sale with five-meter ceilings and panoramic windows in 2016.
Today, the price per square meter in such spaces is 15-20% higher than in new business-class buildings. In the “Fabrika Tbilisi” project, prices reach $3,500-$4,000 per square meter, while new buildings in the same area are offered for $2,800-$3,200.
The secret to their popularity
1. Unique atmosphere:
Preserved elements of the industrial past, such as brick walls, metal beams, and spiral staircases, create a unique charm. Architects deliberately leave “traces of time,” combining them with modern design.
2. Location:
Most lofts are located in the historic city center, where new construction is prohibited. This makes them an exclusive product.
3. Infrastructure:
Developers are transforming former factory areas into art districts with galleries, coffee shops, and co-working spaces. For instance, the Darbazi complex features a wine bar in a former bunker.
Pitfalls:
– Communications:
Old networks often need to be completely replaced. “When renovating a factory built in 1938, we spent 40% of the budget on new engineering systems,” admits Levan Kapanadze, project manager of Industrial Lofts.
– Soundproofing:
High ceilings create acoustic problems. The solution is special membranes and double glazing.
The future of the market
Over the next two to three years, five more large industrial facilities are expected to be transformed in Tbilisi. One of these is the former machine-building plant in Didube, where the plan is to create a “city within a city” with housing and art spaces.
