fbpx 54433-001: M Square Affordable Housing Project | Asian Development Bank

Georgia: M Square Affordable Housing Project

Nonsovereign (Private) Project | 54433-001 Status: Proposed

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

Project Officer
Urbaneja-Furelos, David Request for information
Country
  • Georgia
Sector
  • Water and other urban infrastructure and services
 
Project Name M Square Affordable Housing Project
Project Number 54433-001
Borrower/Company Optima LLC
Country Georgia
Location Tbilisi
Type or Modality of Assistance
Loan Ordinary capital resources USD 10.00 million Proposed
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Water and other urban infrastructure and services / Urban housing

Gender Equity and Mainstreaming Effective gender mainstreaming
Responsible ADB Department
Responsible ADB Division
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.
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
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. While there will be no involuntary resettlement impacts associated with this project as a result of land acquisition, 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. A Temporary Relocation Plan has been developed to manage the process and ensure household socio-economic status is no worse off as a result.
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 summary of the IEE findings will be made locally available in Georgian language. A community grievance mechanism has been developed and will be implemented.
Timetable for assistance design, processing and implementation
Concept Clearance 08 Dec 2020
Credit Committee Meeting -
Approval -
Last PDS Update 22 Jul 2021

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.

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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.

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Title Document Type Document Date
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.

None currently available.

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.

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