A new large-scale development is entering Batumi’s beachfront real estate market. Corall Seaside Resort, a mixed-use residential and hospitality project on Tamar Mepe Avenue, is being developed with an announced investment of approximately $250 million.
The project brings together three Georgian business groups — Ibercompany Holding, Grande Group and Mziuri Development — and is planned as a combination of residential apartments, hospitality, leisure and commercial infrastructure.
Apartment presales are scheduled to begin on September 10.
Two Towers on Batumi’s Seafront
According to the project’s official information, Corall Seaside Resort will occupy an approximately 11,300 m² beachfront site and consist of two high-rise towers of 55 and 53 floors.
The development is planned to include 2,349 apartments, while around 100 additional units are designated for a five-star hotel.
Planned infrastructure includes a private beachfront area, yacht club, swimming pools, spa and wellness facilities, restaurants, commercial areas, a business centre and entertainment spaces.
The developers also plan to introduce a five-star hotel operated under an international hospitality brand, although the operator has not yet been publicly announced.
The architectural concept was developed by Davit Gogichaishvili and Hausart.
Why It Matters for Batumi
The announced $250 million investment makes Corall one of the larger individual real estate projects currently entering Batumi’s coastal market.
It also reflects a broader shift in new development across the city. Instead of standalone residential towers, more projects are being positioned as mixed-use resort complexes, combining apartments with hospitality, wellness, leisure and commercial infrastructure.
Corall’s location is also notable. The project is planned on Tamar Mepe Avenue, north of central Batumi, along the coastal corridor connecting the city with Makhinjauri and the Botanical Garden.
For this part of Batumi, a development of this scale could further increase residential and tourism activity outside the traditional central and New Boulevard districts.
At the same time, Corall remains at an early development stage. Its investment volume, infrastructure and hospitality components should therefore be viewed as announced project parameters, with actual execution becoming clearer as construction progresses.
Batumi Market Context
Corall is launching while Batumi’s residential market continues to record substantial transaction volumes.
According to RECOV by Colliers Georgia, approximately 7,838 residential apartment transactions were recorded in Batumi during the first half of 2026, up 11.4% year-on-year.
The total value of transactions reached approximately $507 million, representing an increase of around 29% compared with the first half of 2025.
More recent data from Galt & Taggart shows that around 4,168 apartments were sold during Q2 2026, while the average turnkey price on Batumi’s primary market reached approximately $1,960 per m² in June.
However, growing supply is becoming an increasingly important part of the market picture. Galt & Taggart has highlighted a large pipeline of ongoing projects, significant unsold inventory and declining rental yields as factors that may moderate future price growth.
This means new premium developments such as Corall will increasingly compete not only on location and design, but also on pricing, construction progress, management quality and delivery of promised infrastructure.
Our View
Corall Seaside Resort stands out mainly because of its scale and mixed-use format.
A $250 million development with more than 2,300 apartments, hotel infrastructure and extensive resort amenities adds another major project to Batumi’s future coastal supply.
But as competition between large projects increases, buyers are likely to become more selective. The key factors to watch will be the project’s launch prices, payment terms, construction progress and the identity of the international hotel operator.
The September 10 presales launch should provide the first clearer indication of how Corall will be positioned against other premium developments in Batumi.
Sources
- Corall Seaside Resort — Official Project Information
- Entrepreneur Georgia — Development of Corall Seaside Resort, worth $250 million, begins in Batumi
- Galt & Taggart — Batumi Residential Real Estate, 2Q26 Overview
- RECOV by Colliers Georgia — Batumi Residential Market, H1 2026
Editorial note: Project specifications, infrastructure plans, hospitality partnerships and construction timelines may change during development. Investment figures and project parameters are based on publicly announced information available at the time of publication and should not be considered investment advice.
