"Medea" and "Tbilisi" Sanatoriums Sold at Auction within Tskaltubo-New Life

As a result of the auction announced within the framework of the "New Life of Tskaltubo" project, 2 facilities - sanatorium "Tbilisi" and sanatorium "Medea" were sold.

The electronic auction ended yesterday at 17:00. The total price of the sold objects was 8,982,300 GEL. Sanatorium "Tbilisi" was acquired by "Aka" LLC, and sanatorium "Medea" by "Asi Group Hotels Georgia" LLC.

As for the rest of the sanatoriums, the auction period for them was extended - this decision was made as a result of the high interest and request from the business sector at the meeting held with the Minister of Economy and Sustainable Development Levan Davitashvili.

It should be noted that the process of privatization of state property is as transparent and accessible as possible. All interested persons are given an equal opportunity to participate in the current electronic auction without any bureaucratic procedures and become the owner of the state asset in a short time.

Within the framework of the "New Life of Tskaltubo" project, the state put up for sale 14 objects - 5 premium class, 5 middle-class hotels and 4 different types of accommodation objects, the total cost of which is approximately 50 million GEL. According to the project, the state undertakes to invest tens of millions of GEL in order to turn Tskaltubo into an international-level spa resort.

The implementation of the large-scale project of restoration and development of Tskaltubo will create more than 3,200 new jobs, a bed fund with more than 6,000 places, will attract an investment of 500 million GEL and will significantly increase the number of visitors.