Hualing Invests $ 45 Million in the Former Building of Ministry of Economy

Hualing Group will open a hotel in 2023 in the former building of the Ministry of Economy on Chanturia Street.

As the investor company told bm.ge, at this stage construction works are underway on the facility, which will be completed in August 2023. As for the investment, according to Hualing, a total of $ 45 million will be invested, including the purchase of the facility.

Hualing built the former building of the Ministry of Economy on Chanturia Street, namely 4,210 sq.m. Meters of space and the buildings on it were bought through an auction for $ 9.4 million. The investor must arrange a hotel of at least 100 rooms on the site as an investment commitment.

The construction permit was issued by the Architecture Service of Tbilisi City Hall on November 26, 2019, according to which the construction period was set for October 27, 2023.