The process of privatizing residential properties allocated to citizens during the Soviet period in Georgia has been fully completed, Georgian Prime Minister Irakli Kobakhidze said during the leaders’ session organized within the framework of the 13th session of the World Urban Forum (WUF13) held in Baku, APA-Economics reports.
According to him, this has created a clear legal framework for urban stability and individual property rights.
“The full transfer of these apartments into private ownership has created a definitive framework for urban stability and the protection of property rights,” Irakli Kobakhidze noted.
The Prime Minister added that the full registration of land plots and the completion of the national cadastre in Georgia have increased legal certainty, strengthened land governance and created a more transparent environment in the real estate market.
According to him, balanced regional development and modern urban planning have become one of the main priorities of state policy in the country.
Irakli Kobakhidze stated that, with the support of international partners, Georgia is implementing the National Spatial Development Concept, which is the main strategic document for housing and urban development.
He also thanked the Azerbaijani government for its traditional hospitality and for the high-level organization of the forum.
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