Posted: 4 years ago

Symetria to Attract about 60 million USD Investment for Shovi Resort Development

Simetria, real estate development company has signed a general agreement on cooperation with Kazakh Business Group, which holds 60% of the Shovi Resort territory.

Under the agreement, Simetria company will ensure the Shovi resort development.

The 60% stake creates a ground for developing the report in a joint and systematized way. According to the Shovi resort general plan, the project will transform the territory into a new and unique tourism center.

At the first stage, Simetria plans to comprehensively explore the territory. Shovi resort comprises 16 unique mineral waters surrounded by three mountain tips and special balneological and healing opportunities.

Austrian and German consultants will be involved in the territory examination process. Only after this an investment project will be prepared. According to preliminary estimations, Shovi resort is expected to attract 60 million USD foreign direct investments.

‘The project will ensure an arrangement of a new and unique tourism center in Georgia, which will host about 56 000 high-income tourists every year. It is worth noting that Racha Region is the poorest region in Georgia, after Guria. Therefore, attracting tourist inflows to this direction will essentially improve economic situation in the region”, the company representatives noted.

Simetria plans active cooperation with domestic and central Authorities, business companies operating in the region and local population to ensure reasonable development of the resort.