Home / Real Estate / Regulations Hamper the Start of Towers construction on Kazbegi Avenue

Regulations Hamper the Start of Towers construction on Kazbegi Avenue

The start date of the towers construction on the area of the former building of the Blood Transfusion Institute at Kazbegi Avenue in Tbilisi is still unknown. Tornike Janashvili, executive director of Block Invest, says in a conversation with  Commersant that currently the fire safety standards are being determined at the City Hall.

According to Janashvili, the company has already taken the construction  regulation plan and in the near  future will get the construction permit. “The construction permit is adjusted in terms of fire safety, according to the new norms, ” Janashvili says.

He adds that the project will be completed in about 2,5 years after the start of construction.

The towers are a joint project of Block Invest and Orbi Group. The investment cost of the project is $ 140 million. According to the plan, two towers will be built on the area of 120 thousand square meters, which will be multifunctional and will include commercial spaces, as well as several hotels and apartments.

Orbi Group is the first company in Georgia that started construction of apartments. The company owns the apart- hotels in Batumi and Bakuriani. At this stage, Block Invest is involved in several hotel projects, including Park Inn and Golden Tulip hotels.