LISI FO LLC
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Lisi FO LLC (Lisi) develops a 20 hectares site in Tblisi. To date, Lisi has built and sold more than 250 apartments and townhouses on this site and has became an important player in the real estate market in Tbilisi. This achievement is driven by the attractiveness and very good location of the project and the solid reputation of the shareholders which are also the owners of JSC TBC Bank. Lisi is the only housing project in Tbilisi that provides spacious location (20 percent construction and 80 percent green) with good quality building for middle income earners. Due to stronger demand for apartments at the project location, Lisi has adjusted the scope of the project to 544 apartments and 48 townhouses.
What is our funding objective?
In 2010, FMO contracted a USD 15 million bilateral senior loan to Lisi for the development of 206 apartments and 68 townhouses on 20 ha of land. Due to a strong demand, Lisi has extended the scope of the project and will built more apartments and townhouses. FMO will stimulate the further growth of the project with a new bilateral senior loan of USD 12 million.
Why do we fund this investment?
With this transaction, FMO will support the further construction of apartments for the middle class in Tbilisi. This project has been qualified Green, as the project will be 20 percent more resource efficient than market practices. Furthermore, with this transaction FMO supports Dutch business, as one of the shareholders is a Dutch national that indirectly holds 28 percent of shareholding in Lisi.
- Website customer/investment
- http://www.lisi.ge
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 12/15/2016
- End date
- 5/25/2021
- Total FMO financing
- USD 9.89 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B