10.Nov .2020 11:00

How much revenue did Ivanishvili’s Galleria Tbilisi receive in 2019?

How much revenue did Ivanishvili’s Galleria Tbilisi receive in 2019?
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Galleria Tbilisi Group has published its consolidated financial statements for 2019. According to the document, the load index of shopping mall Galleria Tbilisi has made up 100% late 2019 and the mall included 133 stores (before the pandemic).

According to profit and loss report, the total revenue of the shopping mall amounted to 33.7 million GEL in 2018. The operating profit of the shopping mall was 16.1 million GEL. However, the total financial result of the company totals to -5.6 million GEL.

The parent company of the mall is GCF LP - Limited Partnership, registered offshore in the Cayman Islands. Its founder is Bidzina Ivanishvili.

For reference, the shopping center "Galleria Tbilisi" built on Rustaveli Avenue in Tbilisi was opened by Bidzina Ivanishvili’s Co-investment Fund in November 2017.

The Co-Investment Fund began construction of 25,000 square m multifunctional shopping mall in 2015; The total investment in amounts to 97 million USD.