24.Sep .2021 14:30

Investments In Tskaltubo To Exceed $200 MLN In 5-7 Years - Cushman & Wakefield Georgia

Investments In Tskaltubo To Exceed $200 MLN In 5-7 Years - Cushman & Wakefield Georgia
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The concept of Tskaltubo master plan is developed. The authors of the master plan think that the development of Tskaltubo should be based on four main strategies: 1. Strengthening the structure of the main resource, the thermal park; 2. Turning the city into a pleasant place to live, taking into account the interests of the residents; 3. Preservation of cultural heritage and memory of the place, strengthening of values and development of functions; 4. Restoration and strengthening of the synergistic relationship between Tskaltubo and Kutaisi.

Cushman & Wakefield predicts that over the next ten years, more than 2,000 rooms will be added to the existing supply facilities in Tskaltubo, and the average stay will increase from 1-2 nights to 5-8 nights. Following in the footsteps of the city development, it is also projected that the number of visitors to Tskaltubo will exceed 350,000 by 2030.

"The concept is based on the functional diversity of Tskaltubo, which is a prerequisite for increasing demand for Tskaltubo. When it was at the peak of development, it was visited by 350-400 thousand visitors a year, today this number has dropped to 25-27 thousand. We think that if our concept develops and creates the functional synergy, it is possible to achieve another 250-300 thousand visitors a year. The development of the concept will increase jobs, invite foreign investors.

We have evaluated the investment volumes, 16 investment memoranda have been created, which discuss the functions that should be developed in Tskaltubo. According to preliminary estimates, the investment of the state as well as the private sector will exceed $ 200 million in 5-7 years," Tekla Iashagashvili, the author of the Cushman & Wakefield Research.