100 million USD will be invested in the Rose Square development, Giorgi Mari, head of Silk Road Group’s real estate projects development, told the Business Morning program.
Since 2007 Silk Road Group has invested 200 million USD, he said. Starting 2018 construction of a 5-star Telegraph hotel will start in the former Post Office building.
“The space development started in 2007, when we launched a reconstruction of hotel Iveria. In 2018 we will launch a Telegraph hotel project at the former building of Post Office. This building will be connected with Iveria through bridges and entertainment complex. After this an underground complex will be developed, where we will arrange a vehicle parking for the whole space, as well as, congress center and meetings room”, Giorgi Mari said.