Silk Road Group has completed negotiations with the leading global architects and masterplanners Chapman Taylor (https://www.chapmantaylor.com).
The agreement provides for Chapman Taylor to work on the architectural concept and master plan as for the Silk Tower, so the entire Batumi Riviera project. Green landscaping will be the main focus for the whole project site.
The 6 hectare land plot will accommodate the “Silk Tower” as well as other buildings/structures planned in the consequent phases of the project development. The project also comprises the marina and additional 2 hectares of the public park.
The park stays under the public ownership and will be an inseparable part of the Batumi Boulevard as a landscaped recreation area. The park will be listed as a natural monument as per the agreement with the Government of Ajara, which means that its area will stay free of any construction projects.
The park will be a part of the landscape concept and Chapman Taylor will work on its planning. The final version of the concept will be agreed upon with the Government of Ajara and Silk Road Group will undertake its further maintenance.
The Project is implemented with the support of the Georgian Co-Investment Fund. An initial investment for the phase one is 65 Million US Dollars.
Another partner of Silk Road Group is a company named Batumi Yacht Club, which participates in investments for development of Batumi Marina and its management during the consecutive 20-years period. Initial investment into development of Batumi Marina is 3 Million US Dollars divided between the parties on a 50/50 basis.
Public introduction of the first phase of the Project will be made this August. The Project preparation works will commence in the same month of August with the construction phase to start early in 2019.