Construction and Real Estate in Georgia After the Conflict - October 2008

PMR specialises in gathering information and presenting analysis on the developing countries of Central and Eastern Europe. We have decided to extend our capability to research of the Caucasus in the context of the recent dramatic events. Our clients need up-to-date and accurate information on all our markets. This is particularly true amidst the fast-changing reality of today’s world. Reconstruction and rehousing is an obvious market for some of our clients. Uncertainty and insecurity are clearly threats that need to be taken into account. For those who have not focused on this strategically vital part of the world, Georgia has a population of 4.6 million, Azerbaijan – 8 million and Armenia – 3 million. Business opportunities in the region will remain strong – especially if a peaceful resolution to the conflict is found. However, the crisis in the Georgian real estate sector started several months before the war. Although the problems in the construction industry were not obvious to the wide audience until recently, the war induced inherent problems to pop up on the surface.