Qatari Company Invests in Tskaltubo to Arrange Recreational and Wellness Infrastructure
A foreign investor, namely the Qatari company "Golden Tower Invest Group", is entering Tskaltubo, the Vice Prime Minister, Minister of Economy and Sustainable Development spoke about this at the briefing held after the government meeting today.
According to Levan Davitashvili, according to the decision of the Government of Georgia, within the framework of the "New Life of Tskaltubo" project, five objects - state-owned non-agricultural plots of land and the buildings located on them - will be transferred to the Qatari investment group.
"The objects that were examined together with the state by one of the most authoritative real estate companies were put up for auction. Accordingly, several objects were sold and investment agreements were signed with Georgian investors. In this case, we already have a foreign investor, who is represented in the hotel business, and they have quite ambitious plans to create a high-level hotel, recreational and wellness infrastructure within the framework of the "New life of Tskaltubo" project. These will be 3, 4, 5-star hotels of different levels, where health and sports components will be presented to a very significant extent, in accordance with the research and study that we did together with the company "Colliers", - noted the Minister of Economy.
"New life of Tskaltubo" is a large-scale investment project, which provides for the sale of 14 sanatoriums to investors at privatization auctions within the framework of the conceptual plan for the restoration and development of the resort. According to the project, the state will make investments in order to turn Tskaltubo into an international level spa resort.
According to Levan Davitashvili, in this case the state will receive the targeted investments that are needed to revive the Tskaltubo resort and turn it into one of the important, attractive tourist centers. However, according to his explanation, there was the following important prerequisite - the state purchased the main resource, healing waters, and today they are available both to private individuals interested in this service and to all businesses that will invest in Tskaltubo and update the health infrastructure.
As for the investment amount - according to the Minister of Economy, the minimum privatization amount for the Qatari investment group is about 12 million GEL, and the privatization obligations are up to 35 million GEL.