The project “Fill the House”

 


The project “fill the house” which author is Ltd “Georgian house” was finished successfully, from January 2011 was renewed construction of 1st block.

Above you may look through the principles of the project “fill the house” with the help of which construction of our complex was started and now it happens in compliance with the terms.


See "Rustavi 2" 's reportage about presentation

In regard with the project "fill the house" see addition: Question-answer

The short annotation of the project:

According to the state of the market of the estate property, the buyer of the flat in the house pays attention first on the guarantee of the finishing of the house, correspondingly Ltd “ Georgian House” worked out the safe (secure) mechanism of the selling of the house, which gives a buyer an opportunity to purchase at 12 months percent less by installments, the flat brought to a white skeleton with its parking at a privilege price and from the other side, become the direct customer of the building company, and until the end of the construction with the help of the Insurance company, with the schedule of estimate and construction made in advance, make the financial monitoring of the project, and also quarterly make plural accounts about the fulfilled works from the building company and about incoming amounts and expenditures.

The base of the given mechanism will be the financial transparency of the company and the financial well-grounded report of the finishing of the house.

 

Goals:

According to the financial report, our task is “Fill the House”: sell such amount of commercial or living area to the payable customers,(easy to be said we must attract minimum 3 million of US dollars ), for the construction to be finished in 20 months.

The project includes two identical blocs, to finish one of them we need to invest around 1.5 - 1.5 million US dollars for eachReplenishment of the house – according to our financial report our goal is to fill the house, which means sell such amount of commercial and living area, and attract such amount of financial resource, so that the construction would be finished in 20 months

 

  • Construction will start only after having collected all money for the house;
  • When all the money for the finishing of the construction will be collected, ( i.e “House will be replenished “ ), construction will be insured and the insurance company will control the expenses and timing of the finishing project in the fixed terms;
  • Before the beginning of the construction, people interested in purchasing of the flats, keep the amount at the “Bank of Georgia” on their own deposit with the term on 3 months ;
  • If the house is not replenished, the person will be able to get money back in 3 months with the charged percent;
  • If the house will be replenished until December, 25, 2010 ( the needed amount of money for the finishing of the construction will be collected ) clients allow Georgian house to spend money on the construction;
  • On December 25, 2010 “The sum-up meeting” will be held where will be presented all the customers , who invested money in “Bank of Georgia“ for replenishing the house and the destiny of the project will be solved;
  • In case of replenishing the house, after the sum-up meeting , only after desire of the clients notary submitted agreements will be made with all the clients, where will be written the amount of investments , construction and the finishing of the construction’s schedule , also according to this agreement Georgian house would be able to use the money on the deposit for the construction, the construction would be also insured.

 

STAGES:

  1. 1. Interested person goes to the Georgian House, gets acquainted with the project, makes out the contract with Georgian House (see the form)), after this customer chooses a flat and shows his interest to the project. But the customer in his own initiative without any explanations, after the sum-up meeting can break off the contract, if he decides not to purchase the property ;



  2. 2. After getting acquainted with the project, the customer goes to the “Bank of Georgia“ opens deposit on the terms of 3 months, (see the form) and puts on this deposit minimum 3000 dollars;



  3. On December 25, 2010 the “Sum-up meeting” will be held, which will attend those, who passed stages 1 and 2. At this meeting will be announced those people who passed these two stages (“Bank of Georgia” will announce presumably) and how much money was mobilized, then Georgian House will familiarize all the customers with all the variants of the developing of the project (the finishing terms of the construction and the schedule) After all these, customers individually make decisions of purchasing area from Georgian House. The meeting will be attended by representatives of Bank of Georgia and insurance company, This meeting will be held at the end of December, all the customers will be informed 5 days earlier about the time and the day of this meeting by the Georgian House;


Two variants of the events after the sum-up meeting:

  1. If “collected money” (deposited on the bank account as well as do by customers during 20 months) is enough for construction to be finished in 20 months, the house will be replenished and the construction will be insured in an insurance company;



  2. In case if house is not replenished, clients take their money back from the “Bank of Georgia” with the charged percent (after the term of the deposit). .



The works on 500 000 US dollars have been already done(description of the done work), here we also present you the calendar schedule of the future works (amounts are given in GEL including VAT)

* NOTE - Overhead of 8 % and unforeseen expenses of 10 % will be added to the above mentioned sum.