Georgia, Tbilisi, March 11 / Trend, N. Kirtskhalia /
Billionaire Donald Trump, who intends to run for president in the United States, has signed a contract to build two skyscrapers in Georgia.
The signing ceremony was held in Georgian President Mikheil Saakashvili's presence in Manhattan, the Georgian Presidential Administration told Trend.
Trump, who heads the Trump Organization, said at a joint press conference after signing the contract that the investments in Georgia will amount to $250 million.
"In the first stage, the skyscrapers will be built in Batumi," he said.
Each skyscraper will include about 100 luxury apartments. They will consist of nearly 40 stories, which is almost twice more than the highest buildings existing in Georgia today.
The signed document is a "license agreement." Trump will not deal with the construction, which will be carried out by George Ramishvili, the head of Silk Road Group Georgia.
Ramishvili said the skyscraper in Batumi will become a part of a large tourist complex including a hotel, casino, exhibition center, shops and a marina on the Black Sea.
Construction will begin no earlier than 2013.
Saakashvili called the project "grand" at a press conference and said Batumi will be comparable to Dubai or Singapore after its completion.
Trump and Saakashvili exchanged compliments. Trump called Saakashvili "his friend" and stressed the president's success in economic reforms and combating corruption.