Grand Millennium Kobuleti is a premium branded year-round resort and residences by Grand Millennium on the Black Sea coast in Kobuleti. The project sells hotel residences: the resort and room rentals are managed by Grand Millennium, the premium brand of Millennium Hotels & Resorts. It is not an ordinary residential building by the sea but a hotel complex where a residence is held in freehold ownership and earns rental income.
About the hotel complex
The complex is planned for 1,650 hotel residences and about 40,000 m² of total floor area. It is built by the international developer Kristal: more than 20 years on the market, around 1.5 million m² built and 30+ completed projects. Completion is scheduled for Q3 2030.
Residences are delivered turnkey: premium finishing, oak parquet, natural materials, branded furniture and Liebherr, Bosch, Miele and Villeroy & Boch appliances. The owner does not need to buy or furnish anything before the residence goes into the rental pool.
Management and returns
Residences are rented out by the hotel operator Grand Millennium. Income is split 70/30 in favour of the owner. Every year the owner can stay in their residence free of charge for 30 or more nights and use the spa, pools, beach club and resort services.
Resort facilities
-
Elysium casino and cabaret of about 10,000 m².
-
Spa and wellness of 3,500 m²: Russian banya, Finnish sauna, hammam, salt room, two pools.
-
Fitness, yoga and Pilates.
-
6 restaurants, 3 bars, cigar and wine lounges.
-
3 outdoor pools and an infinity pool.
-
4 cinema halls, a kids' club and a co-working space.
-
Two helipads.
Location
The complex is being built on David Agmashenebeli Avenue in Kobuleti, a resort town 25 km north of Batumi. Kobuleti has 11 km of beaches, pine parks and clean air, with the Caucasus mountains coming almost down to the sea. Kintrishi National Park and Kobuleti Protected Areas are nearby.
Prices and payment plan
At the pre-sale stage, residences start from $141,000 including finishing and branded furniture. The price per square metre starts from $2,900 turnkey. Down payment is 20%, with a 45-month instalment plan and the option to pay quarterly. According to the developer, the value may grow by up to 107% by completion in 2030.
Who it suits
Investors looking for a rental asset by the sea without the hassle of finishing, furnishing and finding tenants. Buyers who want to holiday in their own residence with hotel service. Before buying, review the management agreement and request the current price list and floor plans.
