“If the government does not continue to subsidize loans, we will preserve construction”, - Beso Ortoidze, general director of construction company Arsi told BM.GE.
According to Ortoidze, this mechanism has helped the sector, and if it continues, both the private sector and the state will benefit, because financing this sector is a good financial investment. Ortoidze says that the developers are already communicating with commercial banks regarding this issue.
"After the announcement of the mortgage loan subsidy, our company made an unprecedented decision to launch a new project during the pandemic - Your House in Samgori. The first house of this project is already being completed, 90% of the apartments are sold with subsidies. A total of 17 buildings are to be built. If the government says that the subsidy is not continued, we will finish the first building, arrange a yard and parking lot, so we will not continue the construction of those 16 buildings.
Several million are to be invested and more than 200 people are employed at this one facility alone. This is a simple example of what the business and economy receive with the right decision of the government," Arsi CEO declares.
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