State-owned property located near Freedom Square in Tbilisi has been sold at auction for 34,810,000 GEL, which is 21 million GEL higher than its starting price of 14.1 million GEL.Until last year, the building housed the office of the Information Center on NATO and the EU, which was abolished in 2025.
The auction concluded on August 13. Notably, the property is located in Tbilisi at N2 Shalva Dadiani Street / N1 Kote Abkhazi Street and includes a 478 sq.m non-agricultural land plot together with the building standing on it. It carries investment obligations.The starting price of the property put up for sale by the LEPL National Property Agency was 14,080,000 GEL, with a bidding step of 10,000 GEL.The building holds the status of an immovable cultural heritage monument.
The privatization terms require an investment of at least 5 million GEL within a maximum of 4 years and the launch of a business facility (a hotel, office, retail, or dining space) on the premises."The privatization terms dictate that within no more than 48 months from the execution of the relevant purchase agreement, personally or through a third party, for commercial/business purposes on the privatized real estate, the creation and operation of office spaces and/or hotel(s) belonging to an international operator company's (and/or its branches') network, and/or retail or dining facility(ies)/space(s) (excluding retail facilities for primary consumer goods intended for daily purposes) shall be established," according to the auction details.
In addition, the owner is required to sign a monument care and maintenance agreement regarding the privatized real estate with the LEPL National Agency for Cultural Heritage Preservation of Georgia / Tbilisi City Hall within no more than 1 month from the signing of the relevant purchase contract.
State-owned property located near Freedom Square in Tbilisi has been sold at auction for 34,810,000 GEL, which is 21 million GEL higher than its starting price of 14.1 million GEL.
