On this page
- Silk Development Georgia: who the developer is and what it builds
- Silk Development Georgia at a glance
- Company, ownership and group behind Silk Development Georgia
- Silk Development Georgia project we list: Silk Towers, Old Batumi
- Silk Development Georgia portfolio and track record
- The towns where Silk Development Georgia builds
- How buying works with Silk Development Georgia
- Ownership route, registration, tax and residence rules for Silk Development Georgia buyers
- Key facts about Silk Development Georgia
- Silk Development Georgia and other Georgia developers on our site
- What to prepare when reserving with Silk Development Georgia
- Frequently Asked Questions
Projects by Silk Development on UInvest
Silk Development Georgia: who the developer is and what it builds
Silk Development Georgia is the name we use for Silk Development, a real estate developer headquartered at 1 Republic Square in Tbilisi that describes itself as part of Silk Road Group, a Georgian holding company. According to the developer’s own company page, it has been creating real estate projects since 2005, and the page shows three counters: 21 years on the market, 10 completed projects and USD 1,300,000,000 of investment made. Its portfolio runs from hotels and a restaurant to a residential complex, with projects in Tbilisi, Batumi, Tsinandali and Abastumani. The project that brings Silk Development Georgia into our developers section is Silk Towers, a mixed-use seafront development in Old Batumi. We list it on our site as Silk Towers Batumi.
Silk Towers is explained in depth by the developer. Silk Development describes a complex on the Old Batumi waterfront, next to the Alphabetic Tower and the Ali and Nino sculpture, with a master plan of nearly 10 hectares designed by the Japanese studio Kengo Kuma & Associates, a two-hectare municipal park by the Danish landscape firm MASU Planning that is already open, and apartments, hotels, a yacht club and other facilities planned around them. The developer’s English landing page prints a starting price of USD 95,000 for apartments, and its floor-plan sheets show studios, one-bedroom and two-bedroom units from 28.4 m² to 72.3 m² in total area. Silk Development Georgia is therefore a single-project listing on our site, set against a wider company record that we summarise from the developer’s own pages.
This profile follows the order in which a buyer usually asks questions. It starts with a table of key facts, then covers the company, its group and the people and design studios named on its pages. It goes on to the Silk Towers project in detail: the site, the design team, the park that opened in September 2025, the apartment types and sizes, the amenities the developer plans, the management arrangement and the construction record. A chronology of Silk Development Georgia projects follows, with a note on the towns where the group works, a section on how buying from a developer works in Georgia, the ownership, tax and residence rules, a table placing Silk Development Georgia beside other developers we profile, a reservation checklist and a set of frequently asked questions. Everything was checked on 13 November 2026 against silkdevelopment.com, go.silktowers.com and the public sources listed at the end. Where the developer states something, we say so. Prices are shown in US dollars exactly as printed. For the wider market, see our Georgia country page and the Real estate developers in Georgia hub.
Silk Development Georgia at a glance
| Item | Detail |
|---|---|
| Company | Silk Development, part of Silk Road Group, per the developer’s company and news pages |
| Active since (per the developer) | 2005; the company page shows “21 Years on Market” |
| Head office | 1 Republic Square, Tbilisi 0108, per the website footer |
| Completed projects (per the developer) | 10, with USD 1,300,000,000 of investment made, as shown on the company page counters |
| Projects named as current | Green Cape Botanico (100% completed), Telegraph (100% completed), Silk Towers and Abastumani Restaurant |
| Georgia project we list | 1: Silk Towers Batumi, Old Batumi |
| Unit types at Silk Towers | Studios, one-bedroom and two-bedroom apartments, per the developer’s fact sheet and floor plans |
| Apartment sizes (total area) | 28.4 m² to 72.3 m², per the developer’s floor-plan sheets |
| Price from (per the developer) | USD 95,000, printed on the English landing page for Silk Towers |
| Architecture and master plan | Kengo Kuma & Associates; park by MASU Planning |
| Apartment management | Silk Hospitality, per the developer’s news of 30 April 2026 |
| Websites | silkdevelopment.com and go.silktowers.com |
Company, ownership and group behind Silk Development Georgia
The company page of silkdevelopment.com introduces Silk Development as a company for the development of large-scale and sustainable projects in Georgia, working since 2005 on projects that it says meet international standards. It lists sustainable architecture, construction quality, safety standards and environmental responsibility as its stated priorities, and describes a customer-centred approach in which each project reflects the characteristics, history and environment of its location. The same page names the company’s address as 1 Republic Square, Tbilisi. The Telegraph Hotel page prints the same address.
On its group, the developer is direct. Its news items of 12 May 2026 and 26 October 2026 describe Silk Development as part of Silk Road Group, a Georgian holding company, which has delivered a number of large-scale projects since 2005. Silk Road Group’s own website lists telecommunications, hospitality, real estate and energy among its businesses, and names George Ramishvili as chairman and founder in its releases. A Silk Road Group release of 19 October 2023 adds that Silk Development is responsible for the management of the projects within the group, naming the hotels in Tbilisi, Batumi and Tsinandali, the Republic complex, the Iveria Beach Club, the Neptune sports complex and the Green Cape Botanico residential complex, and describes the company as a subsidiary of Silk Real Estate. The real estate arm publishes its own site at sre.ge, where Silk Towers appears in the portfolio section.
The hospitality side of the group is Silk Hospitality. The group’s hospitality page lists the venues it operates, among them Radisson Blu Iveria in Tbilisi (249 rooms), Radisson Blu in Batumi (168 rooms), Radisson Collection Tsinandali Estate (141 rooms), Park Hotel Tsinandali (70 rooms), the Tsinandali Estate and Winery, the Republic venues in Tbilisi, the Neptune Sport Complex and the Iveria Beach Club in Batumi. Radisson Blu and Radisson Collection are hotel brands; the hotels are projects in the Silk Development portfolio, and Silk Development Georgia is the developer in this profile. For Silk Towers, the developer’s news of 30 April 2026 states that apartment management, rentals and the delivery of hotel-level services for residents and guests will be handled by Silk Hospitality.
The company page also names the studios and designers with which Silk Development says it collaborates: Ingo Maurer (lighting design), Christina Gabas and Damien Figueras (interior design), David Chipperfield Architects, neri & hu, John Fotiadis, Kengo Kuma & Associates, the artist Tamara Kvesitadze, Gilles & Boissier, Valishvili Architects, Arup, AMDL Circle and MUA – Architecture & Placemaking. The developer’s FAQ page adds Chapman Taylor to the list of international studios it works with. The people named in the developer’s recent news items include Mamuka Shurgaia, who is quoted as General Director of Silk Development in the 30 April 2026 item and as CEO in the 26 October 2026 item. For a buyer, the practical meaning of this structure is that the project pages, news and fact sheets all carry the Silk Development name, and the sale contract names the company that signs it.
Silk Development Georgia project we list: Silk Towers, Old Batumi
We list one Silk Development Georgia project, and the developer explains it on several pages: a landing page at go.silktowers.com in four languages, a partner resource hub with a fact sheet and floor plans, and news items on silkdevelopment.com and sre.ge. The sections below set out what those pages say, with the developer’s figures attributed.
Site and location
Silk Towers is on the Old Batumi waterfront. The developer’s October 2026 news item places it on the coastline of Old Batumi, next to the Alphabetic Tower and the Ali and Nino statue, and its fact sheet of February 2026 describes the site as at the meeting point of the seaside promenade and Old Batumi. The landing page describes the location as next to Ali and Nino and the Alphabetic Tower. The fact sheet gives a two-minute walk to the beach and a 20-minute drive to the airport, and says the area is connected by city public transport routes. No street address or coordinates are printed for the plot, and the addresses on the landing page are sales offices.
Both landmarks are public and well documented. The Alphabetic Tower is a 130-metre structure whose construction began in October 2010 and which was inaugurated in December 2011, according to Wikipedia. The Ali and Nino sculpture is a work by Tamara Kvesitadze, designed in 2007 and installed on the Batumi shore in 2010, and it stands next to the Ferris wheel and the Alphabetic Tower, per its Wikipedia entry. Our Batumi city page describes Old Batumi as the historic centre around Europe Square.
The developer’s project page for Silk Towers gives two area figures: 60,000 m² of construction area and 20,000 m² of recreation area. Its October 2026 news item says the master plan for the site covers nearly 10 hectares, and the landscape description in the group’s September 2025 park release speaks of water mirrors and green spaces that extend the public park into the Silk Towers grounds and link them with the boulevard and the port promenades.
Design team: Kengo Kuma & Associates and MASU Planning
The architecture, concept and master plan of Silk Towers are by Kengo Kuma & Associates (KKAA). Silk Road Group announced on 19 October 2023 that Silk Development had signed the contract with the studio for the design, the concept and an updated master plan, and the developer’s later news items describe the project as the studio’s collaboration in Georgia. The developer’s news notes that the studio’s work includes the Tokyo Olympic Stadium. The public landscape around the complex is by MASU Planning, a Danish landscape architecture firm; its own news item of 16 September 2025 states that Silk Development is the developer for both the municipal park and Silk Towers. Structural and facade engineering for the project is listed on the Tyréns AKT project page, and the developer’s news of 30 April 2026 names the geotechnical engineering firm ZETAŞ as its foundation partner.
The developer’s progress item explains the foundation approach in some detail. It says that before construction Silk Development carried out a geological study of the site with international experts assessing geotechnical and seismic factors, that the deep foundation system was developed to international standards, and that test piles were installed to re-check ground conditions and validate the engineering solutions. Pile installation was under way when the item was published on 30 April 2026.
The municipal park, completed in September 2025
The completed element of the Silk Towers site is a public park. According to the group’s release of 10 September 2025, Silk Road Group completed the construction of a new municipal park in Batumi and handed it to the city as a public space. The park’s infrastructure, the release says, includes two padel courts, a mini football field, leisure zones, relaxation spaces and walking and cycling paths. The release adds that all existing trees and plants on the site were preserved and that more than 600 trees and nearly 63,000 shrubs and flowering plants of over 210 species were added, with a total investment in the park of more than USD 4 million. The same facts were published by Entrepreneur Georgia on 11 September 2025. The developer’s October 2026 item confirms that the two-hectare park has been transferred to the city and is open to visitors.
Apartment types and sizes
The developer’s partner resource hub carries a floor-plan document that lists the unit types of the residential tower. The sheets are marked for floors 6 to 40 and note that an apartment layout can be slightly adjusted depending on the floor. Each sheet splits the total area into an internal area and an external area: the studio is 23.7 m² internal plus 4.7 m² external, and the two-bedroom corner unit is 62.9 m² internal plus 9.4 m² external. The developer’s fact sheet lists the apartment types as studios, one-bedroom and two-bedroom. The landing page text describes open, light-filled interiors with private balconies, and the plan sheets label the views of different units as sea, mountain, city or park.
| Unit type | Total area printed on the developer’s floor-plan sheets | Floors on the sheets |
|---|---|---|
| Studio | 28.4 m² | 6 to 40 |
| One-bedroom, Type A | 47.3 m² | 6 to 40 |
| One-bedroom, Type B | 45.9 m² | 6 to 40 |
| One-bedroom, corner type | 51.8 m² | 6 to 40 |
| Two-bedroom, corner type | 72.3 m² | 6 to 40 |
The English landing page prints “Apartments starting from $95,000”, and the Georgian-language page prints the same figure. The price is stated as a starting figure without a unit type or a size, so a price per square metre cannot be calculated from the developer’s pages and we do not show one. The payment section of the English page says buyers can choose from various payment plans, with smaller down payments up front or higher up-front payments with discounts, and its FAQ describes flexible payment terms. The amounts and dates for an individual apartment are the ones set out in the reservation form and the sale contract.
Amenities and facilities the developer plans
The developer’s materials describe Silk Towers as a mixed-use project, and the facilities are described in the future tense except for the park. The fact sheet’s list for the residential tower, called Tower 1 on the sheet, includes a casino, several outdoor and indoor swimming pools, padel courts and a mini football field, a spa and wellness centre, restaurants and cafes, parking, a children’s playground, bicycle trails and pedestrian walkways, and a yacht club. The marina yacht club is shown on the fact sheet as under construction. The developer’s news of 30 April 2026 summarises the plans as investment apartments, hotels, a private yacht club, a casino, bars and restaurants, retail, spa and fitness centres, swimming pools and padel courts. The landing page adds a retail promenade, a panoramic rooftop pool and an event hall, and the group’s MIPIM 2026 news adds children’s playgrounds.
Silk Development has not named a hotel brand for Silk Towers. The landing page refers to a five-star hotel, the fact sheet to branded residences, and the developer’s news to hotels in the plural. Our profile therefore does not name a hotel operator for the project. The Radisson Blu and Radisson Collection names that appear on the developer’s portfolio pages belong to other Silk Development hotels.
Construction and presentation record
The dated items on the developer’s and group’s own pages give the following chronology for Silk Towers.
| Date | Event, as stated on the developer’s or the group’s pages |
|---|---|
| 19 October 2023 | Silk Road Group announces the contract with Kengo Kuma & Associates for the design, concept and updated master plan |
| August 2025 | Pre-sales of Silk Towers apartments begin, per the developer’s news of 30 April 2026 |
| 10 September 2025 | Silk Road Group announces completion of the two-hectare municipal park and its transfer to the city |
| 27 February 2026 | Creation date of the developer’s fact sheet, which shows the marina yacht club as under construction |
| 9 to 13 March 2026 | Silk Towers presented at MIPIM 2026 in Cannes and nominated in the Mixed-Use category, per the group’s news of 13 March 2026 |
| 30 April 2026 | Developer reports that construction is progressing and pile installation is under way |
| 26 October 2026 | Developer announces a five-star award in the Best Mixed Use Development Georgia category at the European Property Awards 2026 to 2027 |
The October 2026 announcement says the European Property Awards are the European edition of the International Property Awards, which the developer says have been held since 1993, and that a five-star award is the highest rating in a national category. The developer’s April 2026 item adds that the project has been shown at several international real estate exhibitions, including A Place in the Sun Live 2026 in Manchester and MIPIM 2026 in Cannes.
Summary of the Silk Development Georgia project we list
| Project | Town | Unit types | Price from (as printed) | Sizes (total area) | Stage per the developer |
|---|---|---|---|---|---|
| Silk Towers | Batumi (Old Batumi) | Studio, one-bedroom, two-bedroom | USD 95,000, English landing page | 28.4 m² to 72.3 m² | Under construction; pre-sales since August 2025; pile installation reported 30 April 2026 |
Silk Development Georgia portfolio and track record
The developer’s pages list its projects in two groups: the current projects on its ongoing-projects page, and a portfolio of earlier work. The chronology is not dated project by project on the site, so the table below follows the developer’s own grouping and gives the figures printed on each page.
| Project | Place | What the developer’s page says |
|---|---|---|
| Green Cape Botanico | Near Batumi | Residential complex of 80 apartments (studio, one-bedroom, two-bedroom), two seven-storey buildings and a wellness centre, 16,723 m² construction area, USD 15.1 million investment, 100% completed; project page says construction was completed in 2023 |
| Telegraph | Tbilisi | Hotel of 239 rooms with seven restaurants in the former Central Post and Telegraph building, USD 92 million investment, 100% completed; design by neri & hu |
| Silk Towers | Batumi | Mixed-use complex, 60,000 m² construction area and 20,000 m² recreation area; under construction |
| Abastumani Restaurant | Abastumani | Restaurant of 710 m² with a 235 m² terrace for 150 guests; architecture by Tako Valishvili, interiors by Nanka Dolidze; the ongoing-projects page shows it as 20% completed |
| Tsinandali Estate and Tsinandali Estate Villas | Tsinandali | Hotel and villa projects in the portfolio list |
| Park Hotel Tsinandali | Tsinandali | Hotel in the portfolio list |
| Radisson Blu Iveria Hotel | Tbilisi | Hotel in the portfolio list |
| Radisson Blu Hotel Batumi | Batumi | Hotel in the portfolio list |
| Iveria Beach Club | Batumi | Beach club in the portfolio list |
| Republic | Tbilisi | Multifunctional venue in the portfolio list |
| Neptune Sport Complex | Tbilisi | Sports complex in the portfolio list |
The Green Cape Botanico page places the complex a two-minute walk from the Botanical Garden and about 9 km from the city centre, and lists a cafe, bar, swimming pools, a fitness centre and a spa as facilities open to residents and guests. According to the developer’s October 2026 news, Green Cape Botanico received awards at the FIABCI-Georgia Prix d’Excellence Awards 2024 and the Archello Awards 2024, received a Booking.com Traveller Review Award 2026 and was nominated for the European Union Prize for Contemporary Architecture, the Mies van der Rohe Awards 2026. The project page names MUA – Architecture & Placemaking as the architect.
The Telegraph page says the hotel occupies the historic former Central Post and Telegraph building on Republic Square, designed in the 1970s by Lado Alexi-Meskhishvili and Teimuraz Mikashavidze, and that the renovation kept the original exterior including the Bolnisi tuff facade cladding. The developer says the hotel joined the Leading Hotels of the World in November 2024. In a news item of 12 May 2026 it reports that Prix Versailles, a series of architectural awards presented in collaboration with UNESCO, included the Telegraph among the 16 hotels on its 2026 list.
Taken together, the developer’s own counters speak of 10 completed projects and USD 1,300,000,000 invested since 2005. Because the developer does not print completion years project by project, we do not date the other projects. What the pages do show is the range: residential, hotel, restaurant and leisure projects, a pattern of working with named international studios, and a current focus on Silk Towers in Batumi. The developer’s news feed also records sponsorship of the Tsinandali Festival in August 2026.
The towns where Silk Development Georgia builds
Silk Towers sits in Batumi, the administrative centre of the Autonomous Republic of Adjara on the Black Sea coast, which our Batumi city page places about 350 km from Tbilisi. The city page, which uses Geostat data, gives Batumi a population of 246,267 on 1 January 2026 and records 2.7 million visits to Adjara in 2025 against 3.8 million for Tbilisi (Geostat figures; the population release is on the Geostat site). The same page reports 2.6 million international visitors to Batumi in 2025, per the Georgian National Tourism Administration as quoted by Georgia Today, and passenger numbers at Batumi International Airport of 951,760 in 2024 and 1.16 million in 2025. By rail, four daily trains run between Tbilisi and Batumi in about four hours, according to the Georgian Railway timetable cited on the page.
For Old Batumi, the city page quotes Galt & Taggart’s report for the second quarter of 2026, published on 14 August 2026, which records 349 apartment sales in the Old Batumi zone, 8.4% of city sales, and a turnkey primary-market price of USD 3,239 per m² for that zone. The same report puts the city-wide turnkey primary figure at USD 1,960 per m². These are market statistics for a zone, not figures for any one project. The city page notes that the buildings we list in Old Batumi are Silk Towers and NEXT DownTown, with Gumbati Portline placed in Old Batumi by its developer.
Silk Development’s other projects are in Tbilisi, in Tsinandali in the Kakheti region, in Abastumani and near Batumi at Green Cape. We do not list those projects for sale, so we do not describe the towns in more detail. The Batumi context above is the one that bears on Silk Towers.
How buying works with Silk Development Georgia
The developer’s pages do not set out a step-by-step purchase procedure, so this section follows the general mechanics of buying from a developer in Georgia as our how-to-buy guide sets them out, checked against the Civil Code. A purchase from Silk Development Georgia follows the same legal chain as any apartment purchase: a written agreement, payment, and registration of the buyer’s right in the Public Registry.
The initial step is normally a reservation or pre-purchase agreement for an apartment that is still being built. The guide describes this document as the place where the price, the payment schedule and the conditions for the final contract are written down. Silk Development’s English page says plans vary between smaller down payments and higher up-front payments with discounts, so the schedule that applies to a unit is the one in the signed paperwork. Reservation is followed by the sale contract. Under Article 183 of the Civil Code, the transaction must be in writing and the acquirer’s ownership right must be registered in the Public Registry, which the Civil Code text on matsne.gov.ge sets out. The guide adds that contracts are drafted in Georgian, that the Georgian version is the binding one, and that English or Russian translations should match it on price, area, payment dates and title.
Payment is made by bank transfer according to the contract. Our guide notes that domestic payments are settled in lari at the National Bank of Georgia rate on the payment date, so the contract should say how conversion is handled when a price is quoted in US dollars. The National Bank publishes the official rates on its currency page; on 9 November 2026 the rate in force was USD 1 = GEL 2.5949.
Registration is done by the National Agency of Public Registry (NAPR). The fees on the NAPR fee page are GEL 150 for registration within four working days, GEL 270 within one working day and GEL 350 on the day of filing, which our guide converts to about USD 57.8, USD 104.1 and USD 134.9 at the November 2026 rate. A registry extract showing the owner, the land category and any encumbrances is available online or at the counter, and the guide recommends reading it before payment and again after registration to confirm that the buyer is shown as owner. The extract carries the cadastral code of the unit. The guide also states that, under the Civil Code, the seller bears contract and registration expenses unless the contract says otherwise, and that Georgia has no ad valorem transfer tax or stamp duty, with the main costs being NAPR fees and notarial fees.
For an off-plan unit, the guide explains that the Law on Public Registry allows pre-registration of such agreements and registration of an obligation tied to a future transfer, and that whether a developer registers them is a contract matter. Handover then follows completion of the building, with keys, meters and building documents changing hands. If a bank loan is part of the plan, our mortgage guide sets out the National Bank’s loan-to-value limits of 90% for lari loans and 70% for foreign-currency loans, the 80% limit that applies to borrowers with income earned abroad, and the principles the bank has issued for lending against unfinished property. Any bank terms are set by the lender, and a developer’s own payment schedule is set in the sale contract.
Ownership route, registration, tax and residence rules for Silk Development Georgia buyers
These rules are summarised from our guides and checked against the primary texts on matsne.gov.ge, the Revenue Service and the Public Service Development Agency (SDA). They describe the legal framework and are not advice on an individual purchase.
Ownership. Our foreign ownership guide explains that the Law on the Legal Status of Aliens lets foreigners own property in Georgia, and that the limit set by the Organic Law on Agricultural Land Ownership applies to agricultural land only. Under Article 4 of that law, agricultural land may be owned by the state, public-law entities, Georgian citizens and certain Georgian entities, and a foreign individual can acquire it by inheritance. An apartment in a building such as Silk Towers is not agricultural land, so the nationality restriction on agricultural land does not apply to it. The ownership right arises on registration in the Public Registry, not on payment or handover.
Property tax. The Tax Code sets the annual property tax on natural persons at 0.8% to 1% of market value at the end of the previous year (Article 202(5)). Article 206(1)(a) exempts a natural person’s taxable property other than land if the income received by the person’s family in the year before the current calendar year does not exceed GEL 100,000. Our property tax guide records that Law No. 1874 of 30 September 2026 set this threshold at GEL 100,000, removing the earlier band of 0.05% to 0.2%, and that the return is due by 1 November and payment by 15 November. The Revenue Service explains the tax on its property tax page. The guide also summarises the 5% income tax route for residential letting under Article 81(2) of the Tax Code and the exemption for the sale of a residential property held for more than two years; these are statute readings and apply to an owner’s own circumstances.
Residence. The conditions are set by Article 15(j) of the Law on the Legal Status of Aliens and the SDA. As the SDA page states, a short-term residence permit is issued to an alien who holds title to immovable property in Georgia, other than agricultural land, with a market value exceeding USD 150,000 equivalent in GEL, and to the spouse and children. The market value is established by a certified assessor of an accredited body, so it is the assessed value and not the contract price that counts. Article 16 provides that the permit may be extended each time for one year and ends if the ownership right ends. Our residence permit guide records that the threshold rose from USD 100,000 on 1 March 2026, lists the documents the SDA asks for, including a registry extract and an accredited appraisal, and gives about 30 calendar days for processing of a complete file. Owning a property does not itself grant a permit; the permit is a separate application to the SDA.
Key facts about Silk Development Georgia
- Silk Development describes itself as part of Silk Road Group and says it has been active since 2005; its company page shows 21 years on the market, 10 completed projects and USD 1,300,000,000 of investment made.
- Its head office is at 1 Republic Square, Tbilisi 0108, according to the developer’s website.
- We list one Silk Development Georgia project: Silk Towers Batumi, on the Old Batumi waterfront.
- Silk Towers has architecture and a master plan by Kengo Kuma & Associates and a municipal park by MASU Planning; the contract with the architect was announced on 19 October 2023.
- The two-hectare municipal park was completed and handed to the city in September 2025, per Silk Road Group’s release of 10 September 2025.
- Pre-sales of Silk Towers apartments began in August 2025, and pile installation was under way on 30 April 2026, per the developer.
- The developer’s floor plans show studio, one-bedroom and two-bedroom units from 28.4 m² to 72.3 m² in total area on floors 6 to 40.
- The English landing page prints a starting price of USD 95,000 for apartments.
- Apartment management, rentals and hotel-level services are to be handled by Silk Hospitality, per the developer’s news of 30 April 2026.
- Silk Towers was nominated for the MIPIM Awards 2026 in the Mixed-Use category and received a five-star award in the Best Mixed Use Development Georgia category at the European Property Awards 2026 to 2027, according to the developer.
- Other projects named on the developer’s site include Green Cape Botanico (80 apartments, completed), the Telegraph Hotel in Tbilisi (239 rooms, completed) and Abastumani Restaurant.
Silk Development Georgia and other Georgia developers on our site
Silk Towers is one of several developments in the Batumi area that we list. The table below gives a factual overview of the other developers with projects in Batumi and its coast, using the figures on our Batumi city page; each has its own profile in the developers hub.
| Developer | Batumi-area projects we list | Profile |
|---|---|---|
| Silk Development | Silk Towers, Old Batumi, from USD 95,000 per the developer | This page |
| NEXT Property | NEXT DownTown in Old Batumi, plus Address, Magnolia and Collection in the city | NEXT Property profile |
| Orbi Group | Orbi City, Millennium, Continental and Avenue | Orbi Group profile |
| Mardi Holding | Mardi Hills, Mardi City Center, Mardi Stadium, Mardi Aquapark and Novotel Living | Mardi Holding profile |
| Gumbati Group | Portline (placed in Old Batumi by the developer), Strada, Midtown, Boulevard Point and Montemar in Gonio | Gumbati Group profile |
| Archi Group | Archi Ramada in the city, among a wider Georgia portfolio | Archi Group profile |
What to prepare when reserving with Silk Development Georgia
Reserving an apartment from a developer follows a routine set of steps. Having the following ready keeps the process straightforward:
- A valid passport, and the passport details of any co-buyer or of a representative signing under a notarised power of attorney.
- The reservation form or pre-purchase agreement, checked for the unit number, floor, area, price and currency.
- The draft sale contract, with the handover date written into it and the Georgian text matching any English translation on price, area, payment dates and title.
- The payment schedule, showing each instalment, its due date and how a US dollar amount converts to lari at the National Bank rate on the payment date.
- The seller’s company details and signing authority, as given in the contract.
- The Public Registry (NAPR) extract for the property, and after registration a fresh extract showing the buyer as owner with the cadastral code.
- Tax details where needed: the Revenue Service property tax return dates of 1 November and 15 November, and the rental income tax route if the apartment will be let.
- If a residence permit is planned, an assessment by an accredited appraiser, commissioned before the application, since the permit rests on assessed market value.
Frequently Asked Questions
Who is Silk Development Georgia?
Silk Development Georgia is our name for Silk Development, a real estate developer with its head office at 1 Republic Square in Tbilisi that describes itself as part of Silk Road Group. It says it has worked since 2005 and shows 10 completed projects on its company page. Its current projects are Green Cape Botanico, Telegraph, Silk Towers and Abastumani Restaurant.
Which Silk Development Georgia project do you list?
Silk Development Georgia is represented on our site by one project, Silk Towers Batumi, a mixed-use seafront development in Old Batumi with apartments, hotels, a yacht club and other facilities planned. The two-hectare municipal park beside it is open to the public.
What do Silk Development Georgia apartments cost?
Silk Development Georgia prints a starting price of USD 95,000 for Silk Towers apartments on its English landing page, without a unit type or size attached. The developer’s floor plans show total areas from 28.4 m² to 72.3 m², and the price of a specific apartment is the figure in its reservation form and sale contract.
What apartment types does Silk Development Georgia offer at Silk Towers?
Silk Development Georgia lists studios, one-bedroom and two-bedroom apartments at Silk Towers on its fact sheet. The floor-plan sheets give 28.4 m² for the studio, 45.9 m², 47.3 m² and 51.8 m² for the one-bedroom types and 72.3 m² for the two-bedroom corner type, each marked for floors 6 to 40.
When is Silk Towers due for handover?
For Silk Development Georgia, the developer’s news of 30 April 2026 reports that construction is progressing with pile installation under way, and that pre-sales began in August 2025. The handover date for an apartment is the one written into its sale contract, so it is worth reading that clause when reserving.
Can a foreigner buy from Silk Development Georgia?
A foreigner can buy an apartment from Silk Development Georgia: under the Law on the Legal Status of Aliens, as our guide explains, the restriction on foreign ownership set by the Organic Law applies to agricultural land only, and an apartment is not agricultural land. The buyer becomes the owner when the right is registered in the Public Registry.
How is a purchase from Silk Development Georgia registered?
A purchase from Silk Development Georgia is registered at NAPR on the basis of the written sale contract. The fees are GEL 150 for four working days, GEL 270 for one working day and GEL 350 on the day of filing, and a registry extract with the cadastral code confirms the entry.
What property tax applies to an owner of a Silk Development Georgia apartment?
For a Silk Development Georgia apartment owned by a natural person, the Tax Code sets property tax at 0.8% to 1% of market value, and exempts property other than land when the family’s income in the previous year did not exceed GEL 100,000, as Law No. 1874 of 30 September 2026 sets out. The return is due by 1 November and payment by 15 November.
What does a purchase from Silk Development Georgia mean for residence permits?
A purchase from Silk Development Georgia does not itself give residence. The SDA issues a short-term residence permit for non-agricultural property with an assessed market value exceeding USD 150,000 equivalent in GEL, extended each time for one year, as our residence permit guide and the SDA page state, and the permit is a separate application.
Last checked: 13 November 2026. Sources: Silk Development company page; ongoing projects; portfolio; Silk Towers progress news, 30 April 2026; European Property Awards news, 26 October 2026; Green Cape Botanico; Telegraph; Abastumani Restaurant; Silk Towers landing page; Silk Towers partner resource hub; SRE, MIPIM 2026; SRE portfolio page; Silk Road Group hospitality page; SRE, Batumi park, 10 September 2025; MASU Planning; SDA residence permits; Law on the Legal Status of Aliens; Tax Code of Georgia; Civil Code of Georgia; NAPR fees; Revenue Service; National Bank of Georgia.
















