BAKU, Azerbaijan, Jan. 15
By Tamilla Mammadova – Trend:
Georgian Hualing Group purchased the former building of the Ministry of Economy and Sustainable Development at an auction in 2015 for $9.45 million within the frameworks of the "50 Properties for Your Hotel" program, Trend reports via Georgian media.
The duty of the investor was to build no less than a 100-room hotel from January 1, 2016, within a period of not more than 36 months.
The deadline for launching the hotel expired on April 21, 2019, and the obligation remained unfulfilled for the time being, due to which, according to the National Property Agency, the investor company was fined 500 lari for each overdue day.
Currently, Hualing Group does not discuss the matters of investment price of the project, however, the company noted, that construction works are underway and it is carried out by the company Anagi.
"We plan to launch a 3+ star building with 118 rooms. As for the finishing dates, we will fulfill every duty taken towards the government," the company said.
Hualing Free Industrial Zone (Hualing Kutaisi FIZ) is the manufacturing and trading zone in Kutaisi, Georgia offering companies 100 percent tax-free operations.
Free Zone covers the territory of 36 hectares and it is located in Kutaisi – the second-largest populated city of Georgia, on the territory, owned by the company. Considering its low proximity to Kutaisi International Airport (19 km), Port of Poti (95 km), and the highway connecting to the capital Tbilisi (210 km), Hualing Kutaisi Free Industrial Zone represents an important trading and industrial hub within the country and the region.
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