Arabian company ISRAIL AHMADOV INVESTMENT LLC plans to invest $500 million at the Shaori Lake territory in Racha. The company will build sport and leisure complex in the area.
According to the company at least $ 500 million will be invested. Additionally to this company other Arabian and European companies will be also involved in the construction process.
The company has already been presented the project to the local and executive authorities and according to their information, at this stage negotiations are going on.
As the company explains, by now geological and environmental studies of the territory are carried out in order to determine where it is possible to start building processes. It is stated by the company that the green cover of the area will remain unchanged.
According to the project, construction of the complex will be implemented gradually. First of all, hotels and holiday houses construction will take place. Then the company has a desire to build living houses and cottages.
The project will incorporate the following complexes: 4 Hotels – (300, 400, 500, and 600 rooms) Yacht Club, which will be located on 1500 square meters, Georgian, Arabic, Italian, American restaurants. Spa and fitness center, children’s entertainment center and cottages zone. Additionally, the project envisages the construction of the golf and Hippodrome.
As it was announced by the Arabic company representatives, they are interested in other projects throughout Georgia as well. In particular, the company has already completed work on the cannery project in Zugdidi. Additionally to this, the company hopes that in the near future there will be contract made with the government concerning about airport construction in Senaki region.