Market Research Report: Gldani Mall and Competitor Overview
Company Profile: Gldani Mall
Background
Gldani Mall is a prominent shopping center located in Tbilisi, Georgia, near the Akhmeteli Theater subway station. Established on December 25, 2014, the mall comprises seven floors, offering a diverse range of retail stores, dining options, and entertainment facilities. It serves as a central hub for shopping, relaxation, and family activities, featuring up to 100 commercial establishments, many of which are international brands.
Key Strategic Focus
Gldani Mall focuses on enhancing its retail offerings and expanding its commercial space to accommodate a growing number of tenants. In January 2025, the mall commenced an expansion project aimed at doubling its leasable area to 50,000 square meters by 2027. This expansion intends to introduce new international and local brands, thereby enriching the shopping experience for its customers.
Financials and Funding
Gldani Mall is owned by IG Development Georgia, which has 13 years of experience in property management and leasing. As of June 30, 2025, IG Development Georgia reported a net leasable area of 55,892 square meters across its properties, with an occupancy rate of 100% for Gldani Mall. The company is actively investing in expansion projects, including Gldani Mall's, which is expected to significantly increase revenues and profitability upon completion.
Pipeline Development
The primary development for Gldani Mall is the ongoing expansion project started in January 2025. This project aims to add an additional 34,970 square meters of commercial space, accommodating up to 130 new international and local tenants. Construction is scheduled for completion in 2027, with a significant portion of the expanded area already contracted.
Technological Platform and Innovation
Gldani Mall incorporates modern technologies to enhance operational efficiency and customer experience. The expansion project includes the implementation of energy-efficient systems, such as LED lighting and optimized HVAC systems, improving energy and water efficiency. The mall has also launched a 600 kW solar power plant to source renewable electricity, reducing the carbon intensity of its operations.
Leadership Team
- Beso Tetvadze: General Director, responsible for overseeing mall operations and strategic initiatives.
- Irma Khujadze: Head Accountant, responsible for financial management and reporting.
- Salome Topchiashvili: HR Manager, managing human resources and organizational development.
- Tata Zibzibadze: Office Manager, handling administrative tasks and office coordination.
Strategic Collaborations and Partnerships
Gldani Mall has established strategic collaborations with various international and local brands to enhance its tenant mix. The ongoing expansion is expected to attract additional partnerships, strengthening its market position.
Operational Insights
The expansion strategy aims to boost competitiveness by offering a wider range of retail options and improving the overall shopping experience. The mall maintains a high occupancy rate and has effectively leased additional space, signaling strong demand and proficient operational management.
Strategic Opportunities and Future Directions
Upon completion of the expansion project in 2027, Gldani Mall will be positioned as a leading retail destination in Tbilisi. It will have the capacity to accommodate more tenants and attract a diverse customer base. Future opportunities include tenant category diversification and the introduction of innovative retail concepts to enhance customer engagement.
Social Media and Online Presence
- Website: www.gldanimall.ge
- LinkedIn: Gldani Mall
- Facebook: Gldani Mall
- Instagram: @gldanimall
- YouTube: Gldani Mall
Competitor Profile and Market Insights
Market Dynamics
The retail market in Tbilisi exhibits growing demand for diverse shopping experiences, with consumers seeking a blend of international and local brands. The expansion efforts of Gldani Mall reflect this trend and align with evolving shopper preferences.
Key Competitors
- City Mall Saburtalo: Another property owned by IG Development Georgia, which is undergoing an expansion to double its leasable area to 110,000 square meters by 2029.
- East Point: A large shopping center offering a variety of retail and entertainment options.
- Galleria Tbilisi: A central shopping mall featuring a mix of local and international brands.
These competitors collectively shape the competitive landscape of the Tbilisi retail market.
Strategic Insights
Competitors are similarly expanding and upgrading their facilities to capture market share. This intensifies the competition for tenants and customers, leading to increased emphasis on innovative retail experiences and strategic brand partnerships.
Operational Considerations
Retail centers in Tbilisi, including Gldani Mall and its competitors, focus on maximizing occupancy and tenant satisfaction. The integration of modern technology and sustainability measures is becoming a key differentiator in this competitive environment.
