Recent trends indicate a significant increase in demand for large office spaces in Tbilisi, driven by the activities of both international and local corporations. The real estate market in the capital is becoming increasingly competitive, particularly due to a scarcity of expansive spaces in business centers. Alongside local demand, interest from international organizations is also growing, primarily fueled by their expansion efforts and a desire for enhanced office environments, as per Colliers Georgia.
A key requirement among companies is the search for office spaces exceeding 1,000 square meters within business centers. Firms often prefer having their operations consolidated on a single floor, facilitating better coordination and operational efficiency. However, sourcing such spaces is challenging due to the limited availability of large office spaces in existing business centers.
In terms of pricing, rental rates for large office spaces in business centers range from $15 to $20 per square meter. These rates are influenced by factors such as location, as well as the infrastructure and services provided by the business centers, intensifying competition for premium office spaces.
Colliers, a leader in the real estate sector, has been actively engaged in negotiations with numerous large companies planning relocations or seeking to expand their office capacities. The primary drivers of this demand are international and local corporations striving to enhance their business operations and improve their work environments.
