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New Hotel to Launch Operation at Toidze Art School

The building of former Toidze Art School has been set out for sales as part for the Fifty Properties for Your Hotel project.

National Property Agency started the auction on November 22 and will close on December 21. The starting price of the property is 8.200mln GEL.

The winner must invest at least 10mln GEL in the building and build a hotel with at least 80 suites.

At the stage, National Property Agency has spend 26 895 501 GEL real estates as part of the Fifty Properties for Your Hotel project. Total value of investments amounts to 58.2mln GEL.