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No Company Shows Interest in Khrushchovkas Replacement Project

After the underground parking project, nor the Khrushchovkas replacement project has raised interest among companies. No company has participated in the interest expression announced by Tbilisi City Hall. The interest expression finished on August 15. On the mentioned project Tbilisi City Hall plans to announce new interest expression.

Tbilisi City Hall has offered the following conditions for Khruschchovkas replacement.

The territory space is 300 205 square meters for a symbol price of 1 GEL. After the project completion, Tbilisi City Hall is to transmit a 7 500 square meter space to the company free of charge.

The winner company is obliged to arrange public spaces on its territory such as playgrounds, vertical greening, recreation zone, parking place, internal roads and so on.

The winner company is obliged to complete the building construction in 2 years after the license issuance and accept it in exploitation

For participation in the interest expression it is a necessary condition that:
– a candidate or its subcontractor have at least 3-year experience in operation in business sector.

-Finish construction works through its own or attracted funds.

The company is also obliged to develop feasibility studies.