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4 Beijing new owner of Gruzstat building

Business Materials 13 January 2011 13:05
The 4 Beijing company is the new owner of the Georgian State Statistics Service's building in Tbilisi. The building was sold at an auction for $4.2 million on Wednesday.

Georgia, Tbilisi, Jan.13 / Trend N. Kirtskhalia /

The 4 Beijing company is the new owner of the Georgian State Statistics Service's building in Tbilisi. The building was sold at an auction for $4.2 million on Wednesday.

CEO Ramaz Gachechiladze said a business center will be constructed in the building.

"We plan to create a business center here, but perhaps a shopping center and catering facilities will also be placed on a certain section," he said.

The company's management did not specify the investments to be spent on building the center.

In accordance with the auction terms, 50 percent of the selling price must be paid within 30 calendar days after the auction, while the remaining amount must be covered by June 30. The facility should be emptied in these phases - the basement, and the first and second floors within a month after the auction, and the third to the seventh floors before May 1. 

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