Education business continues to expand

Georgia Capital PLC (the "Group" or "Georgia Capital") announces the expansion of its K-12 education business through two investment projects: (1) the acquisition of a new campus in the affordable segment, and (2) the signing of a binding agreement for the acquisition of a land plot for the expansion of an operational campus in the premium and international segment.

(1) The new campus in the affordable segment has a capacity of 1,200 learners and currently provides education to 310 learners. Following the planned rebranding, starting from the 2023-2024 academic year, it will operate under the existing affordable brand in the Group’s portfolio - "Green School". The project is in line with Georgia Capital's capital allocation programme, targeting the expansion of the affordable segment in the education business.

The new campus is located in Saburtalo district, one of the densely populated urban areas in central Tbilisi with a considerable surrounding residential area. It has c.6,000 sq.m. building facilities and a 1.1ha land plot.

With this investment, the education business will expand from its current built capacity of 5,650 learners to 6,850 learners, while the built capacity of the affordable segment will increase from 3,500 learners to 4,700 learners. The number of “Green School” campuses will increase from 3 to 4.

(2) The land plot is located adjacent to the operational campus of our premium and international schools. This acquisition, once completed, will increase the total pipeline capacity for 2025 by 350 learners, in total from 2,410 learners to 2,760 learners, of which, the pipeline capacity of the premium and international schools will increase from the current 1,200 learners to 1,550 learners.

Irakli Gilauri, Georgia Capital Chairman and CEO commented: "I am pleased to announce these successful projects in Georgia Capital’s education business. With these acquisitions, we are further expanding our private K-12 education business, where we see attractive opportunities for a scaled player. I look forward to working with our management teams to make our top-class educational services accessible on a larger scale."