Business
Posted: 1 week ago

Silk Road Group to Implement 65 million USD Project on Elbakidze Rise

Center Plaza, the company related to Silk Road Group, plans to build a multifunctional complex on Sanapiro Street and adjacent territory in Tbilisi.

The project calls for constructing five buildings with various number of floors – from 4 to 17 floors. The buildings will embrace residential, commercial, hotel and offices spaces, as well as a parking place for 400 vehicles.

Silk Road Group told BM.Ge that the project value is an estimated 65 million USD.

At the first stage, the project volume will be agreed with the city hall board of history. Before obtaining the construction license, general plan of arrangement and project agreements should be prepared, the company representatives aid.

"It should be noted that photo materials spread in the internet space illustrate the project scales and number of floors, not renders.

Silk Road Group owns the territory on Sakanela Street since 2007. Several projects were prepared since then. The projects were designed by Georgian architectural company Midamo, based on recommendations of the municipal service of history. Germany company Graft, the author of Radisson BLU Iveria has also engaged in the project implementation.

The complex construction works are expected to start in about 1 year after the design approval.