Business
Posted: 1 month ago

Construction of a Hotel in Former Building of Ministry of Economy Starts - "Hualing Group"

The Hualing Group purchased the former building of the Ministry of Economy and Sustainable Development, located at 12 Chanturia Street in Tbilisi, at an auction in 2015 for $ 9,450,000 within the frameworks of the "50 Properties for Your Hotel" program.

The duty of the investor was to build no less than a 100-room hotel from January 1, 2016, within a period of not more than 36 months.

The deadline for launching the hotel expired on April 21, 2019, and the obligation remained unfulfilled for the time being, due to which, according to the National Property Agency, the investor company was fined GEL 500 for each overdue day.

Currently, Hualing Group does not discuss the matters of investment price of the project, however, the company noted, that construction works are underway and it is carried out by the company Anagi.

"We plan to launch a 3+ star building with 118 rooms. As for the finishing dates, we will fulfill every duty taken towards the government."