Spanish Quarter by Barceló
A residential and hotel complex by ELT Group in partnership with Barceló Hotel Group at 12 Richard Holbrooke Street: a 150-room Barceló hotel and turnkey serviced apartments overlooking the Mtkvari and Old Tbilisi. Construction is due to finish in November 2027.
- An ELT Group and Barceló complex overlooking the Mtkvari and Old Tbilisi.
- Turnkey apartments from $84,555 with 80/20 hotel income.
- Interest-free installments for up to 4 years.
About the project
Spanish Quarter is a premium residential and hotel complex by ELT Group, being built in partnership with Barceló Hotel Group at 12 Richard Holbrooke Street. According to the developer, construction has been under way since April 2024 and will finish in November 2027; the complex overlooks the Mtkvari river and Old Tbilisi.
Block A has 22 floors: a 150-room Barceló hotel on floors 1–12 and serviced apartments on floors 13–22, delivered fully turnkey. Block B is a 22-storey residential building whose residents get discounts on hotel services. Apartments from 30 to 126 m² are on sale.
Amenities: a lobby, restaurant, bar and terrace on the ground floor; a spa, pool and fitness centre on the second; plus a cinema, conference hall, indoor and outdoor pools, a green courtyard and a three-level underground car park for 150 cars.
For investors, the developer offers a hotel model: hotel income is split 80/20 (investor — Barceló) on a pooled basis, regardless of the occupancy of a particular apartment. The format suits those who want passive income without letting the property themselves.
Gallery
What Spanish Quarter by Barceló will look like
Developer renderings.
Key facts
Key information
The essentials on one screen.
City, district
Tbilisi, Isani
Prices
from $84 555
Completion
November 2027
Instalments / mortgage
Installments up to 4 years, 0%
Residence permit
For units from $150,000
Finishing
Turnkey
Developer price list
Prices and purchase terms
Prices from the official ELT Group price list as of 2025–2026 (realting.com data). Through Tbilicity — no mark-up.
| Type | Area | Price from | Per m² |
|---|---|---|---|
| Apartments | 30–126 m² | $84 555 | from $2 200 |
| 2-room | 62.06 m² | $127 770 | from $2 059 |
The price of a specific unit depends on floor, view and finishing — we'll send an exact quote via WhatsApp.
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Investment potential
Spanish Quarter is designed for hotel income and rentals. Tbilisi market figures for 2026:
Price per m², new buildings
An apartment of about 38 m² × $10.0 per m² (average Tbilisi rent) ≈ $385 per month, about $4,610 per year. At a price from $84,555 that is:
Gross yield on standard long-term rental. The 80/20 hotel scheme with Barceló works out differently — we'll send a calculation on request.
Sources: Geostat (via Georgia Today, 26.10.2026); Galt & Taggart and TBC Capital — Tbilisi market reviews 2026; ELT Group presentation 2026; realting.com, geoln.com. Forecasts are not a guarantee of returns.
Developer
ELT Group
ELT Group is a developer building in Georgia since 2017: according to the company, it has built and sold over 470,000 m² across 15 projects, with buyers from 67+ countries.
In Batumi, ELT is developing ELT Quarter on the New Boulevard — the Sunrise, Rainbow and Sunset complexes and the La Quinta by Wyndham hotel are already completed. The company partners with Wyndham Hotels & Resorts, Barceló Hotel Group and the management company IPM; in Tbilisi it is building Spanish Quarter and Palatina by ELT.
Location
Isani: neighbourhood and amenities
12 Richard Holbrooke St, Tbilisi
Isani is a historic district on the left bank of the Mtkvari opposite Old Tbilisi, with metro access, parks and fast-changing riverside development.
The centre and the Old Town are close by, and views of the river and hills make the riverside part of the district popular for hotel and residential projects.
Ask an expertOn-site amenities
- Partnership with Barceló Hotel Group
- Turnkey apartments
- 150-room hotel
- Indoor and outdoor pools
- Spa and fitness centre
- Cinema and conference hall
- Parking for 150 cars
- Views of the Mtkvari and Old Tbilisi
- 80/20 income scheme
FAQ
Questions and answers
Answers to the most common questions.
How much are apartments in Spanish Quarter?
According to realting.com — from $84,555, from $2,200 per m²; geoln.com published an example: a turnkey 62.06 m² two-room apartment for $127,770. Unit sizes range from 30 to 126 m². We'll send current prices for available units on request.
Is there an installment plan?
Yes, ELT Group offers in-house interest-free installments for up to 4 years with an individual schedule.
When will Spanish Quarter be completed?
According to the developer, construction has been under way since April 2024 and will finish in November 2027.
How does the hotel income work?
The serviced apartments are let through Barceló. Income from rooms, spa, fitness and other hotel services is split 80/20 between investors and Barceló on a pooled basis, regardless of the occupancy of a particular apartment.
Is it more expensive to buy through an agency?
No. Buying through Tbilicity is at ELT Group's official price list — no markup. We select the apartment, check the documents and support the deal.
Does buying an apartment give a residence permit in Georgia?
Since 1 March 2026, a Georgian residence permit can be obtained by buying property with a market value of at least $150,000 (assessed by an accredited valuer) — a one-year temporary permit that can be renewed. From $300,000 — a 5-year investment residence permit. At Spanish Quarter by Barceló, units priced above $150,000 qualify — we'll suggest options.
Free selection
We'll pick 3–5 new builds for your goal
Tell us your budget and goal — we'll send a selection with developer prices, instalment plans and yield estimates via WhatsApp or Telegram.
See also
Other new buildings in Tbilisi
from $653 455King's Garden
- World Class Lux wellness centre, 1,300 m²
- Pool, spa, sauna, solarium
- Gym with Technogym equipment
from $34 456Palatina by ELT
- 29 floors
- Mtkvari river and city views
- Open-air terrace pool
from $161 325Tbilisi Downtown by Next
- Swimming pool
- Gym
- 24/7 secure grounds
from $91 750Tbilisi Oriental by Next
- Lobby and reception
- 24/7 concierge
- Restaurant
from $158 760VR Krtsanisi Villa Residence
- 20-hectare gated quarter
- Outdoor pools and an indoor pool
- Technogym fitness centre and sauna
from $77 969Archi Dighomi 3
- 7,000 m² courtyard
- Playground and two sports grounds
- Commercial units
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