BAKU, Azerbaijan, November 7
By Tamilla Mammadova – Trend:
Georgia Capital PLC Company plans to expand its tourism sector, Trend reports citing Georgian media outlets.
With this purpose, Georgia Capital PLC founded Georgia Real Estate Holding, which also includes the construction company BK Construction. The activities of Georgia Real Estate cover the development of tourism and hotels, as well as commercial real estate.
The company plans to open 12 hotels under the new Georgian brand Amber Group within 3-4 years, and investments will amount to 130 million lari ($44 million). One of the hotels, Ramada Amkor, is already open.
According to Irakli Burdiladze, CEO of Georgia Real Estate Holding, Amber Group is a brand focused on popularizing Georgian cuisine, Georgian winemaking traditions at the international level and attracting high-class tourists to the country.
“Our group also plans to open international brand hotels. We studied market demand, otherwise we would not have planned such investments. In our country tourist flows mainly come from the US and Europe,” says Burdiladze.
Burdiladze expressed hope that the tourist flow in Georgia will increase significantly and reach 10 million over five years.
In total, Georgia Capital PLC plans to invest $540 million in real estate, tourism and the development of commercial real estate.
Georgia Capital PLC is a platform for the purchase, construction and development of a business in Georgia with holdings in sectors that are expected to benefit from further growth and further diversification of the Georgian economy.
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