National Property Agency Exceeds Privatization Plan, Sells State-Owned Properties Worth Millions in Q1 2023

Georgia’s National Property Agency sold state-owned properties worth more than 46.3 million GEL in the first quarter of 2023, exceeding the privatization plan. The agency announced 667 auctions, resulting in the sale of both movable and immovable properties.

The most expensive property sold was a non-agricultural plot of land measuring 6232 sq.m located in Grigol Feradze Street N4a in Tbilisi, which was purchased by the SS Chachava Clinic for 4.4 million GEL. The other properties in the top 10 list of most expensive state properties sold include non-agricultural plots of land and buildings in various locations such as Tbilisi and Rustavi.

The agency's efforts resulted in the sale of movable properties worth 2,965,647 GEL through 9,147 auctions, surpassing the planned amount of 1,875,000 GEL.

The successful auctions represent a significant achievement for the National Property Agency and are a testament to their commitment to creating opportunities for private investors and entrepreneurs to acquire state-owned properties. The sale of these properties will help stimulate economic growth and development in Georgia.

With the success of the auctions, the National Property Agency is looking forward to continued sales of state-owned properties to private investors and entrepreneurs, which will help drive economic growth and promote investment in Georgia. The agency is committed to ensuring that the privatization process is transparent and fair, allowing all interested parties to participate and contribute to the country's economic development.