Real Estate
Posted: 1 year ago

Partnership Fund to Put Up Borjomi Likani for Auction at Reduced Price

The auction of the hotel "Borjomi Likani" will be held on September 4. The Partnership Fund will put the facility up for auction for $ 30 million.

The hotel covers 156,600 square meters of land and hotel buildings.

The surrounding land remains in the ownership of the "Partnership Fund" - 234 thousand sq.m. In order to further develop it, the fund is ready to consider investment projects if investors are interested.

The first public auction of the Borjomi Likani Hotel was held by the Foundation in December last year. The minimum starting price of the hotel was $ 37.5 million, but the auction could not be held due to lack of participants.