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Investor to Put 40 million USD in Multifunctional Complex Construction in Batumi New Boulevard

Investor to Put 40 million USD in Multifunctional Complex Construction in Batumi New Boulevard

An investment project of at least 40 million USD will be implemented in the new boulevard of Batumi.

At a term electronic auction LLC Orbi Group Millennium purchased a 5 million GEL property for 9.3 million GEL. Under the auction terms, a hotel complex of at least 350 suites will be constructed on the territory. Initially, the project will employ 300 local residents.

The complex will include a conference hall, wellness center, outdoor swimming pool on at least 2000 square meter, indoor swimming pool, recreation zone, outdoor playgrounds and other facilities.

“The multifunctional complex will be one of the best projects in the country and the whole region, thanks to its location and the land plot parameters “, Orbi company director general Irakli Kvergheladze told the Business Contact

“We plan to invest more than 40 million USD. I will not name specific amount, but 40 million is far lesser amount compared to the genuine investments planned”, the company head noted.