Real Estate
Posted: 2 years ago

Silk Road Group has Attracted 15 million Euros to Arrange the Telegraph Building

Foreign investment of 15 million euros will be spent on the first innovative hotel of "Green Architecture" standards in Tbilisi.

Silk Road Group has signed an investment agreement with the Danish Investment Fund (IFU) to finance 15 million euros.

Funding for developing countries is provided by the IFU Danish SDG Investment Fund and its sponsors through major Danish pension funds.

The 220-room hotel will create 350 jobs. The final version of the project envisages the arrangement of food facilities on the first floor, and a terrace on the roof. Also quite a large-scale interior yard reconstruction to accommodate conference and banquet facilities.

The reconstruction will be carried out in compliance with the "Green Architecture" ecological gold standard (LEED Gold standard). It should be noted that the telegraph building will be the first in the Caucasus region to carry out reconstruction according to this standard.

Prior to construction, Silk Road Group - one of the largest business groups in Georgia - continues to search for local and foreign financial institutions to finance the project.