The Parallel is a residential complex under construction at 19-23 Tbel Abuseridze Street in Batumi's stadium district, about 500 meters from the Black Sea coast. The project consists of two parallel monolithic-frame towers of 33 and 35 storeys with 474 apartments — studios from 32 m2 up to 127.8 m2 four-room units and 14 penthouses up to 184.3 m2. Developer Metropol, founded in 2022, runs three concurrent Batumi projects and three in Tbilisi, with one completed complex (Metropol Bagebi, Tbilisi, 2024). Sales launched in November 2024; apartments are delivered in black-frame condition with completion promised for Q4 2027. Prices start at about $64,000, with interest-free installment plans and TBC Bank mortgage financing available.
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Who is the developer and what have they completed?
Metropol (Metropol Holdingi LLC), founded in February 2022, headquartered in Tbilisi with a Batumi office at 7 Shartava Avenue. Portfolio: 545,000 m2 across six active projects (three in Tbilisi, three in Batumi). One completed project to date: Metropol Bagebi in Tbilisi, handed over in 2024.
When is The Parallel scheduled for completion?
Q4 2027, per the developer and listing platforms. Sales launched in November 2024 with a stated three-year construction schedule.
What payment options are available?
Interest-free installments with 15-20% down for up to 29 months, TBC Bank mortgage from 7.8% interest, or 100% upfront payment.
What condition are apartments delivered in?
Black frame: entry door, double-glazed panoramic windows, tiled balcony, and utility connections to the unit. Interior finishing (screed, walls, plumbing, kitchen) is the buyer's responsibility and cost.
Does buying here qualify for Georgian residency?
Only if your total appraised Georgian real-estate holdings reach $150,000 (threshold in force since 1 March 2026). An entry-level unit at ~$64,000 does not qualify on its own.
Is rental management available?
Yes — the developer offers property management services through its own management company; specific revenue split and fees are not published and should be requested in writing before purchase.
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