Business
Posted: 1 week ago

Orbi Group Received Permit to Build Towers in the Center of Tbilisi

The building of 38-story towers on Kazbegi Avenue has started.

The permit which Orbi Group and Block Invest have been waiting for years from the government has been issued.

The price of the investment was $140 million and according to the plan, it should have been placed on 120 thousand square meters. According to Orbi Group's director, Irakli Kvergelidze, the investment cost has increased and now is more than $140 million. Perhaps, he can not name the exact amount at this stage.

"We received the government's permission for Kazbegi Towers, now the foundation works are underway. The pandemic has affected the deadlines in this case as well. Gradually, all the work will be completed. The international tender will be announced for the works to be carried out, as soon as we have the opportunity to do so, we will promptly renew the building processes. The project will be completed in 20 months. 

According to the director of Orbi, all the companies which were participating in Kazbegi Tower construction, remain unchanged. As Kverghiladze explains, the project is fully implemented with Georgian capital. 

Orbi Group was planning to start building of Kazbegi Towers in 2016, but the project was delayed due to the lack of construction permits.