Guides · Districts

The New Boulevard in Batumi for an Israeli Buyer

The New Boulevard area holds two projects in Orven's Batumi collection, Olympus Residence and OXY Residence, both set within the city-centre promenade area. What each one publishes, for an Israeli buyer comparing the two.

27 October 2026 · By Orven Properties · 4 min read

Pictured: OXY Residence, New Boulevard, Batumi

The New Boulevard is Batumi's main seafront promenade through the city centre, and it anchors two of the projects in Orven's Batumi collection: Olympus Residence and OXY Residence. For an Israeli buyer weighing a city-centre position against the hotel-branded cluster in Gonio, this guide sets out what each project publishes.

Why buyers look at the New Boulevard

Unlike Gonio, where the appeal rests largely on a beachfront position shared with international hospitality brands, the New Boulevard puts a buyer closer to the day-to-day rhythm of central Batumi, cafes, the promenade itself and the general activity of the city rather than a self-contained resort setting. It tends to suit someone who wants to use the apartment personally on visits, in addition to any rental plans, rather than a buyer looking purely for a branded hotel-style product.

Olympus Residence: the more established entry point

Olympus Residence, developed by Olympus Group on Sherif Khimshiashvili Street, offers studios of 34.7 to 40.7 sqm and one-bedroom units of 45.9 to 69.1 sqm across two blocks totalling 1,167 apartments, of which the developer states 995 are sold. The entry price is USD 62,000, with a 30% down payment and interest-free instalments over 24 months, delivery announced for 2026. Amenities include an infinity pool, an outdoor pool, a spa, a restaurant, a cafe, coworking space, a conference room and a play area.

OXY Residence: a 0% down payment above a branded hotel

OXY Residence, developed by ELT Group on Adlia Street, sits above a hotel operating under the Occidental name, a Barceló brand, with apartments of 30 to 87 sqm. The developer states approximately 62% of the project is sold. Rather than a down payment, OXY Residence is structured around 0% upfront with internal instalments running up to 32 months, ahead of a June 2028 delivery. The entry price is not published on an official source available to Orven.

Comparing the two on what is published

	Olympus Residence	OXY Residence
Developer	Olympus Group	ELT Group
Entry price	USD 62,000	On request
Down payment	30%	0%
Instalment period	24 months, interest-free	Up to 32 months
Delivery	2026	June 2028
Distinctive feature	Published price and sales progress	Shared hotel services, no published price

A buyer who wants a confirmed entry price today, and a nearer-term delivery, tends to look first at Olympus Residence. A buyer for whom a 0% down payment matters more than a confirmed price at this stage may lean toward OXY Residence while asking the developer to release current pricing.

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Georgia's residence permit on the New Boulevard

Georgia's law on the legal status of foreigners, article 15(j), opens a short-term residence permit, renewable one year at a time, to a foreign owner, a spouse and children, once a certified expert values the property above USD 150,000 equivalent in GEL. At USD 62,000, a single Olympus Residence unit sits well below that figure; OXY Residence's eligibility cannot yet be assessed without a published price. Eligibility always depends on the certified expert's valuation, not the catalogue price, and is subject to conditions confirmed with the authorities.

Tax on rent and on resale

Rental income earned by an individual in Georgia is taxed at 5% of the gross amount under article 81 paragraph 2 of the tax code, and a capital gain on a sale after more than two years of ownership is exempt from the 5% rate under article 82 paragraph 1(f.a). These rules apply the same way regardless of which New Boulevard project you choose, and are confirmed with a tax adviser before you rely on them.

Title and registration

Both projects register ownership through Georgia's National Agency of Public Registry (NAPR), with official fees of GEL 150, 270 or 350 depending on processing speed. A local Georgian lawyer should verify the title and review the sale and purchase contract before you sign either one.

Working with Orven on the New Boulevard

Orven requests current pricing, sales progress and payment terms from both Olympus Group and ELT Group, and coordinates a Georgian lawyer for title review once you choose a project. See our guide to Olympus Residence, our comparison of Batumi payment plans for Israeli buyers, and the Batumi destination page. Orven's Israel page covers Batumi ahead of Dubai for buyers from Israel.

Message Orven on WhatsApp at +971 52 776 1939 or by email at sales@orvenproperties.com with the New Boulevard project that interests you, and your adviser follows up with current availability.