According to Georgia's Public Registry, on July 3 the Cartu Fund sold a 66,940-square-meter land plot near the former Hippodrome to Central Park Avenue LLC, the company developing a mixed-use complex that includes several skyscrapers, among them a planned 70-story Trump Tower.
The project is being developed by Biographi Living and Archi Group, with the Sapir Organization also involved. Blox Group and Finvest Georgia are participating in the development as well.
Business Registry records show that Central Park Avenue LLC was established in September 2023. Half of the company is owned by Idea LLC, which is held by Levan Phakadze (40%), Soso Phakadze (40%), and Vasil Phakadze (20%). The remaining 50% is owned by Central Park Investments JSC, a company incorporated in February 2026. According to the registry, Luka Laphanishvili is its sole shareholder and director.
The Public Registry filing does not disclose the purchase price of the land transaction.
