Bidzina Ivanishvili to Buy 22 Hotels in Tskaltubo at Open Auction
Ex Prime Minister of Georgia Bidzina Ivanishvili plans to buy Tskaltubo-based sanatoriums and bathes at open and competitive auction.
My business projects in Georgia are of charity character in most cases and I am ready to sell my businesses in Georgia.
Tskaltubo Sanatorium project will be finished in 3 years, Bidzina Ivanishvili said.
“As to buying off the Tskaltubo-based building, naturally, Sanatorium will be sold at an open auction under transparent investment conditions. I have only two key conditions – the building must be finished in 3 years and the rehabilitation process must be implemented through maintaining the existing cultural-historical appearance.
The investment package should be announced soon. It will be a right way and we should try that buildings be put out separately so as everybody be able to buy desirable assets.
Tender or auction will be appointed by the Government under the Georgian legislation and all interested bodies including me will obey the requirements.
I say in advance that this will be very interesting and profitable project for everybody, because these hotels will work for 12 months a year.
In the process, all hotels may be sold to other private investors and in practice, I will not have to buy any hotel. I am ready to buy all unsold hotels and build them in 3 years.
In short, in this project I am a certain guarantor and insurer that the Tskaltubi project will be implemented definitely. The model is the following: I will buy all unsold assets. I believe business sector will show interest in the construction process. In my letter I have said that I am ready, including in planning, designing, and other phases to sell these buildings to any investor so as they could continue successful operation. The maximum price will be equal to only the sum spent on the project implementation.
I will assist the business in this process too, who owns hotels and will not sell them. The main thing is that we ensure high quality and this process requires additional investments. I will assist them through the co-investment Fund, through attracting cheap resources for them or in other forms.
If the business sector abstains from buying the mentioned assets, I will buy all assets and finish them.
As to the favorite expressions by opponents as if Ivanishvili has bought everything, everybody will see that in 3 years no hotel will be in my ownership, while thousands of people will receive benefits of this project”, Ivanishvili noted.