Under Founder and CEO Luka Gerekhelia, One Development is becoming one of Georgia’s most compelling real estate names. Its promise is simple: build investable places, not isolated towers. The company has moved from townhouse schemes to a 36-story residential tower, urban renewal, branded residences and resort-led complexes. That path shows a team able to read demand, plan for gaps and create durable value for buyers, operators and partners.
One Development is defined by premium sites, hospitality thinking and international standards. Its flagship branded residence in central Batumi, near the Alley of Heroes, is planned as a high-rise development with around 450 units, including studios, one-bedroom homes and premium suites shaped for global hospitality use. With professional property management, strong data on layouts, occupancy and market gaps, the company frames its assets as both lifestyle products and income vehicles. For investors, that means clearer positioning, stronger trust and return potential linked to tourism, brand power and long-stay demand.
The next chapter is Ureki. One Development is positioning the project as the region’s first purpose-designed wellness destination. Its story starts with Ureki’s rare magnetic sand, Black Sea setting, pine air and natural calm. These are not background details—they are the core identity. The concept turns wellness into a full destination model, balancing health, lifestyle, social life, nature and culture. Direct beach access, sport, leisure, dining and wellness uses make it a year-round place for families, residents, visitors and investors seeking a distinct Georgian coastal asset.
One Development’s edge is also built through collaboration. The company’s work with hospitality consultancy Salt Projects is a major mark of credibility. Led by Valeri Chekheria and Levan Berulava, Salt Projects’ reputation for leading hospitality and concept-development work strengthens the case for One Development as a developer that can shape brands, stories and guest experiences.
Architecture gives the platform further strength. Working with Beka Pkhakadze and noted firms Stipfold and Stance, One Development pairs capital discipline with design ambition. Beka’s profile is rising fast in Georgia, and his design language can help make each project more recognizable, premium and future-facing.
For international investors, Luka Gerekhelia’s message is clear: Georgia’s window is open now, favoring early movers who back trusted developers, original concepts, branded hospitality and a long-term vision. “The best-performing asset is one the owner actually wants to visit,” he says.
“The best-performing asset is one the owner actually wants to visit.”
Luka Gerekhelia Founder & CEO, One Development
Post ThisIn this interview, the founder and CEO sets out how the company has grown from developing townhouses to residential towers, the importance of branded residences and the role for real estate in driving Batumi’s profile as an international destination.
Q: What inspired you to found One Development?
Luka Gerekhelia, Founder and CEO, One Development: Real estate development is one of the leading industries in Georgia today, so it was a natural direction. Before founding One Development, I worked with some of the largest developers in the country across multiple roles. That experience gave me the knowledge and confidence to start my own company.
Q: What is your vision for Batumi and Georgia’s real estate market?
LG: Our goal is not competition—it’s collaboration. We all want to make Georgia more attractive, more modern and more livable. Batumi, in particular, has huge potential to become a global destination for both residents and international investors.
Q: How has your development portfolio evolved over time?
LG: We started with small townhouse projects—just 15 units focused on private family living. Then we moved into large-scale developments, including a 36-story residential tower and urban regeneration projects. Today, we are developing large complexes with sports infrastructure and mixed-use concepts. Each project reflects what we’ve learned from the market.
Q: You are developing branded residences—why are these so important?
LG: Branded residences are a game changer for Batumi. They bring international standards, brand trust and global recognition. For investors, they offer security and strong returns. For the city, they elevate the overall market and attract a higher-quality international audience.
Q: What are your current projects in the segment?
LG: We are developing a major branded residence project in central Batumi, near the Alley of Heroes. It will include around 450 units in a high-rise tower. These are primarily studio and one-bedroom units aligned with global hospitality standards, along with premium suites.
Q: How do you approach investor returns and value creation?
LG: We rely heavily on data. We analyze demand, layouts, and market gaps. For example, there is currently a shortage of larger apartments in Batumi, so we are addressing that. In branded residences, we can offer up to 7% guaranteed returns, supported by strong tourism demand and high occupancy rates.
Q: What role does tourism play in your strategy?
LG: Tourism is a major driver. Batumi receives millions of visitors annually—far exceeding its population. Our focus is shifting toward tourism-oriented developments, including branded residences and wellness resorts, to serve this demand year-round.
Q: How do you differentiate One Development from other developers in the market?
LG: The main difference is our data-driven approach. We don’t just follow trends—we analyze them and anticipate what will be needed next. We focus heavily on product design, layouts and long-term value for investors.
Q: What is your message to international investors?
LG: Come to Georgia while the market is still growing. Opportunities like this don’t last forever. As the market matures, entry points will become more expensive and returns will decrease. Today, Georgia offers one of the most attractive real estate investment environments globally.
