Home / Business / Development Sector Faced Serious Challenges in 2015: Malkhaz Kunelauri Evaluates the Year
Gudaui apartments

Development Sector Faced Serious Challenges in 2015: Malkhaz Kunelauri Evaluates the Year

Malkhaz Kunelauri, manager of Redco Development reviews the previous year for development sector.

“Naturally, the sector faces difficulties because of certain economic problems in the country. Therefore, it would be incorrect to assert the business is unproblematic. Indeed, there were serious challenges in 2015, but we have overcome them. This year we were implementing projects amid difficulties, but the result matter anyway.

The year of 2015 was important as we launched large projects such as the new building construction beside Batumi Tower, were a LeMeridien five-star hotel will be erected; the construction of a new residential building at the Vake-Saburtalo new highway; New Gudauri, a hotel-style residential complex in Gudauri; a hotel-style residential complex in Bakuriani.

In 2016 Redco company will try to expand its business and unveil new hotels in Gudauri by investing total of 15 million USD. The project also calls for constructing a new residential complex.

At the end of 2016, the international hotel brand of Radisson will also appear in Gudauri. I believe this ski resort has the potential to get into the list of the world’s leading ski resorts.

We plan to inaugurate other projects too in 2016. At this stage, we are conducting negotiations around these projects and I will not divulge other details.

We want to further enhance our business in 2016 and to invest more money in Georgia. We want the investment environment to be more stable so as more projects be implemented in Georgia.