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Photo by: Roin Gundadze

Former National Bank Building Sells Out At Auction

Ministry of Finance and Economy of Ajara announces an auction on the former building of the National Bank of Batumi and its surrounding inventory once again.

In total 2623,4 sq.m of non-residential space owned by the Autonomous Republic of Adjara, In Batumi. The electronic auction will be announced on 40% discount for privatization.

The starting price of the auction is 9 000 0000 GEL lasting until November 16.

Real estate has a status of cultural heritage monument.

According to the terms of the auction, no less than 12 000 000 GEL should be invested within 24 months after the contract is concluded. At the same time, the buyer is obliged to employ no less than 50 citizens in the property.

We remind you that the price of the privatization of the building was 15 million GEL.

The former building of the National Bank was auctioned several times, but never sold.