Georgia puts up governmental residential buildings for auction
BAKU, Azerbaijan, December 24
By Tamilla Mammadova – Trend:
Within the framework of the project “100 Investment offers for Business”, National Agency of State Property Management of the Ministry of Economy and Sustainable Development of Georgia has auctioned Tskneti Governmental residential buildings, Trend reports citing Georgian media outlets.
Tskneti Government Residence (13 buildings) is located on aa of 89,978 sq.m. The initial value of the land was estimated byLevan Samkharauli National Forensics Bureau for 55.7 million lari ($19.4 million).
As reported, under the investment terms, the buyer will be obliged to build a hotel and/or residential complex on the whole or part of the land within 36 months after signing the contract. However, the buyer can dismantle or reconstruct existing buildings. The investment that the buyer should make in the project is at least 20 million lari ($6.9 million).
Implementation of the project will create new jobs and at the same time promote the economic development of the neighboring area.
Tskneti governmental residential buildings are famous for their landscaping and coniferous forests. The arrangement of the territory must comply with the master plan for land use, which implies protection of the green cover.
Meanwhile, the National Agency of State Property Management continues privatization of state-owned objects. The project envisages holding of 100 parallel auctions and privatization of the property through simplified procedures.
The list of properties includes state property in 45 cities and municipalities of Georgia: industrial facilities, warehouses and greenhouses, medical facilities, sports infrastructure, hotels and other state property of interest to developers.
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