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Tbilisi City Hall is creating a 5000 sq.m. housing fund for the socially vulnerable

Tbilisi City Hall is creating a 5000 sq.m. housing fund for the socially vulnerable. The case concerns the apartments that the Tbilisi City Hall had to receive from the investors before the ban on the K2 coefficient, to whom the City Hall gave the opportunity to increase the coefficient under certain conditions. More specifically, the construction companies that have benefited from the condition of increasing the K2 coefficient are obliged to hand over to the state 10% of the areas obtained with the increased coefficient. Tbilisi City Hall will take over these areas in the near future.

For reference, according to the new master plan approved in 2019, the increase in the K2 coefficient was limited.

According to Tbilisi Vice Mayor Irakli Khmaladze, there were transitional statements during the same period and Tbilisi City Hall had to discuss the increase of K2 coefficients. It was also mentioned that the developers would contribute to the creation of the social housing fund, and those who increased the K2 coefficient during the transition period, according to the Tbilisi City Hall, gave up 10% of the coefficient in favor of the municipality.

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