Construction of Palm-shaped artificial island planned for Black Sea Batumi resort will be finished in 2.5-3 years, - Pridon Katamadze, one of the investors of the "Ambassador Batumi Island" project, said in a conversation with BM.GE. According to him, this term refers to the arrangement of two peninsulas and one island, not their complete development.
"I think it will take two and a half or three years to finish the land preparation works, which includes the preparation of peninsulas and islands," said Pridon Katamadze, one of the shareholders of "Batumi Island".
"Ambassador Batumi Island" project will unite the territory of two artificial peninsulas and one island, beaches, active and passive recreation areas, walking promenades and a seaside boulevard will be organized, as well as water parks, a yacht club, educational institutions, shopping centers, hotels and residential buildings.
The mentioned project is implemented by "Ambassador Batumi Island", established on June 14, 2021. The company has two shareholders, namely the British Virgin Islands offshore registered company Property Assets Investment LTD, which owns an 82% share of the project, and "Batumi Island" LLC, which holds an 18% share of the project. Businessman Pridon Katamadze owns 100%-share of "Batumi Island" LLC.
