Georgia : M Square Affordable Housing Project
The Project will complete two sub-projects - Chkondideli and Mirtskhulava, unfinished residential complexes in Tbilisi Georgia. The Project aims to address prevailing developmental challenges related to lack of sustainable urban housing in Tbilisi which are affordability, energy efficiency, safety and accessibility.
Project Details
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Project Officer
Urbaneja-Furelos, David
Private Sector Operations Department
Request for information -
Country/Economy
Georgia -
Sector
- Water and other urban infrastructure and services
| Project Name | M Square Affordable Housing Project | |||||
| Project Number | 54433-001 | |||||
| Borrower / Company | Optima LLC |
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| Country / Economy | Georgia |
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| Location | Tbilisi | |||||
| Type or Modality of Assistance |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability OP4: Making cities more livable OP5: Promoting rural development and food security OP6: Strengthening governance and institutional capacity OP7: Fostering regional cooperation and integration |
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| Sector / Subsector | Water and other urban infrastructure and services / Urban housing |
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| Gender | Effective gender mainstreaming | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Portfolio Management Division, PSOD | |||||
| Responsible ADB Officer | Urbaneja-Furelos, David | |||||
| Project Sponsor(s) | ||||||
| Description | The Project will complete two sub-projects - Chkondideli and Mirtskhulava, unfinished residential complexes in Tbilisi Georgia. The Project aims to address prevailing developmental challenges related to lack of sustainable urban housing in Tbilisi which are affordability, energy efficiency, safety and accessibility. | |||||
| Objectives and Scope | The Project will enhance Tbilisi's urban development by supplying housing units with four key sustainability criteria - affordability, safety, energy efficiency, and accessibility - currently not adequately available in Georgia due to deteriorating housing stock and incomplete developments. | |||||
| Status of Operation/Construction | The Project has sold 59% of total sellable area and collected 65% cash proceeds as of 30 August 2022. The construction works for the Project are aligned with the total project timeline and is targeted to be completed by 31 December 2023. | |||||
| Linkage to Country/Regional Strategy | The project is aligned with the following key operational priorities of ADB's Strategy 2030: (i) addressing remaining poverty and reducing inequalities; (ii) making cities more livable; (iii) improving progress in gender equality; (iv) tackling climate change and enhancing environmental sustainability. ADB's support to the project is also in line with ADB Georgia Country Partnership Strategy 2019-2022 which emphasizes making urban areas more livable and housing finance as one of the strategic focus. |
| Safeguard Categories | |
|---|---|
| Environment | B |
| Involuntary Resettlement | B |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | An Environmental and Social Compliance Audit (ESCAR) and an Initial Environmental Examination (IEE) were conducted for the project. The ESCAR recommended improvements to the waste and hazardous material management systems at the sites. The IEE determined that the environmental impacts at both sites, are expected to be site-specific and can be managed through standard HSE risk mitigation measures. |
| Involuntary Resettlement | The ESCAR and IEE have determined that the projects are being undertaken on land that was previously acquired in line with national legal requirements and that no additional land is required, temporarily or otherwise. Numerous apartments are occupied by residents who have agreed to voluntarily relocate for a mutually agreeable period of time to allow the completion of the apartment blocks to the agreed standards. In line with requirements for involuntary displacement, as a result of the ESCAR, a Corrective Action Plan and Temporary Relocation Plan were developed to manage the process and ensure household socio-economic status is no worse off as a result of project impacts. A grievance mechanism is available to all households and no grievances related to temporary displacement have been reported to date. |
| Indigenous Peoples | The ESCAR and IEE have determined that the projects are being undertaken on urban land in areas where there are no IPs or vulnerable ethnic groups. Consequently there will be no IP impacts associated with this project. |
| Stakeholder Communication, Participation, and Consultation | The IEE determined that stakeholder engagement has been undertaken periodically through project development and was also carried out during the development of the IEE. A community grievance mechanism has been developed and will be is being implemented with no grievances reported to date. |
| Timetable for assistance design, processing and implementation | |
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| Concept Clearance | 08 Dec 2020 |
| Credit Committee Meeting | 20 Jul 2021 |
| Approval | - |
| Last PDS Update | 03 Apr 2023 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
| Title | Document Type | Document Date |
|---|---|---|
| M Square Affordable Housing Project: Gender Action Plan | Gender Action Plans | Aug 2021 |
| M Square Affordable Housing Project: FAST Report | Faster Approach to Small Nonsovereign Transactions | Aug 2021 |
| M Square Affordable Housing Project: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Apr 2021 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
| Title | Document Type | Document Date |
|---|---|---|
| M Square Affordable Housing Project: Environment and Social Compliance Audit Report (February-August 2021) | Environmental and Social Monitoring Reports | Sep 2021 |
| M Square Affordable Housing Project: Initial Environmental Examination | Initial Environmental Examination | Aug 2021 |
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.