Business
Posted: 6 days ago

Plans of Multifunctional Complex Aragvi Project

The working processes for the multifunctional complex on the bank of Mtkvari are underway. It is yet unclear when the project will be submitted to the Tbilisi City Hall for approval and when the construction will begin. 

As a vice president of Loyal Capital Group, which implements this project, Mindia Gadaevi mentions, that it is difficult to find an investor and financial resources during a pandemic. According to him, the company conducts internal works on the project, including doing research on transport.

"The process is not paused, however, we wait for the time, when we will be able to hold negotiations with the investor.", declares Mindia Gadaevi.

According to him, the conceptual master plan of the area has already been prepared, on which the architectural company Spectrum has worked, although in the near future it may also start working on a new concept.

As it is known, the project requires to attract international investors for its implementation. The matters are discussed on a total area of ​​50,000 square meters, which should be developed in stages. The estimated cost of the project is over $100 million.