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The government has already found 19 investors for 50 new hotels

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BM.GE
15.06.18 08:31
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According to the National Agency for State Property of the Ministry of Economy and sustainable development, 19 sites have been sold under the project 50 Properties for Your Hotel.

According of the information requested by BM.ge from the Agency, total amount generated from privatization of 19 properties exceeds 53 mln GEL (53 323 001 GEL).

As to the investment obligation, the investor purchasing the property within the period defined by the privatization terms, should invest total of 108 140 000 GEL.

Among the privatization items are non-agricultural land and constructions in Tbilisi, Mestia, Utsera, Ambrolauri, Kobuleti, Kvareli, Khashuri, Bakuriani and Borjomi.

As BM.ge was told at the Property Management Agency, fulfilling of the investment obligation has already started and even completed in some cases. For instance, in Mestia Setu Hostel has already been opened and it is expecting tourists.

As far as other projects are concerned, for example, Black Sea Resort has acquired 90 135.00 m2 of non-agricultural land plot in Tsikhisdziri Village for 13 650 000 GEL and is supposed to invest 20 mln GEL during 5 years and employ at least 30 people; also, Astoria purchased 3841.00 m2 of non-agricultural land with N1-N19 buildings on it in Tbilisi, Chonkadze Street for 12 505 000 GEL with the obligation to invest 10 mln GEL and to open an hotel with at least 80 rooms during four years.

The project 50 Properties for Your Hotel started in fall 2017. According to the Ministry of Economy, the project allows investors establish a hotel complex and stopping/recreation infrastructure on roads, using the already existing infrastructures.