Rekan Group has big plans for real estate, tourism markets of Georgia
BAKU, Azerbaijan, August 4
By Tamilla Mammadova – Trend:
Georgia has a very advantageous strategic location that attracts attention of foreign investors, said Executive Manager for Rekan Group-Georgia LTD Dashti Shukri, Trend reports via Georgian media.
“Georgia has good investment conditions, investment legislation and trusting relations with almost all countries. At this stage, we are implementing only one project in Georgia - the construction of the multi-complex project 'Batumi View', but we have big plans for the real estate and tourism market of Georgia in the future," said Dashti Shukri.
"We are planning to invest $50 million in the Georgian market. Of course, much also depends on the market situation,” he added.
Iraqi company Rekan Group for Investment and Development started its first overseas project in Batumi city. The Group created a new company in Georgia under the name of Rekan Group-Georgia LTD in 2014, after which it began studying Georgian investment laws and checking the investment environment with plans to start investing in Georgia.
The company chose Batumi city for its first project. In December 2014, the company signed an investment agreement with the Ministry of Economy in Adjara to invest $50 million in a multi-complex project in Batumi city titled 'Batumi View'. The project will include four buildings with a hotel, 60 commercial shops and more than 870 residential apartments.
Rekan Group is a group of companies based in Iraq's Kurdistan, which is specialized in investing in many fields including real-state, housing, commercial centers (malls) and others.
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