Monolith New Depo gains bank backing, but buyers still face a 2029 wait

Bank of Georgia was named as a financing partner for Monolith New Depo in a commercial announcement published on 12 October 2026. The announcement describes eight residential buildings with 1,362 apartments, approximately 6,000 square metres of commercial space and a site area of 36,414 square metres. Those are the figures presented by the project promoters; they are not a separately audited construction inventory.

The development itself was not launched on 12 October. Monolith Group had already announced the start of apartment sales on 21 September. Its own project page lists September 2029 as the expected completion date and describes delivery in green-frame condition. That means a purchaser must budget for finishing work and should establish exactly what the contract includes.

There is a small but important inconsistency in the public descriptions. The bank-related release identifies Vakhtang Ninua Street number 2, while Monolith’s sales notice and project page identify number 3. This does not establish a legal defect: nearby plots and marketing addresses may differ. It does make the cadastral identifier, permitted building, specific block and registered contractual unit essential checks before a deposit.

The promised swimming pool, parking, sports areas and landscaping may improve the residential proposition, but completion, service charges and ownership arrangements remain to be verified. Buyers should also distinguish a bank financing the developer from a mortgage offered to an individual purchaser; these are different relationships with different protections.

Before committing funds, request the current registry extract, construction permit, stage-by-stage schedule, payment protections, handover specification and remedies for delay. A comparative investment-score framework can help structure questions, but no rental return or resale premium for this project can be established from these announcements alone.

For a general comparison framework, see HomeRadar’s investment-score methodology.