“The construction sector is very sensitive to any changes”

“The construction sector is very sensitive to any changes”

access_time2019-07-10 17:05:00

Head of the Developers Association Tornike Abuladze says that  instability of the national currency and not its rate is a big problem for  the construction sector.

“It is better for us the rate would stably stand at  GEL 3 per one  dollar  than its constant fluctuations within 2, 7-  2, 8. Stability is needed for long-term planning, 2-3 years ahead. The rate set at 2, 93 yesterday and  caused by a panic due to  political processes is  temporary. But even in this situation it is difficult to predict, ” he explains.

In Tornike Abuladze’s view, in the future the national currency may either fall or gain its value  depending on the scenario.

“The construction sector is very sensitive to any changes and the national currency rate has a negative impact on the development business,” he stresses.


Abuladze adds that any instability automatically reduces  the number of transactions, especially in summer when the sales  on the real estate market traditionally fall.

He believes that  the lari devaluation will not hike  prices in the construction sector as 80% of the materials are locally produced and re not affected by the currency fluctuations.


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