200 million USD in investments, up to 100 subcontractors, and thousands of our citizens employed; Krtsanisi Resort Residence is a new seminal project to be implemented in our capital, Georgian Prime Minister Irakli Garibashvili stated during the presentation of the Krtsanisi Resort Residence project.
This project will have a positive impact on the country's overall investment climate, also spurring investors' interest, eventually to reflect beneficially in the country's economy, the Head of Government underlined.
"It is exciting to be attending the presentation of such a far-reaching project here in this historic neighborhood, unique place. I deeply appreciate the truly exemplary and commendable social responsibility exhibited by the investor. 200 million USD in investments, up to 100 subcontractors, and thousands of our citizens employed; Krtsanisi Resort Residence is a new seminal project to be implemented in our capital.
As we just heard from our investor, special emphasis will be placed on environmental protection and healthy living. Krtsanisi Resort Residence will be a project to look up to, one setting new standards in our capital. The project encompasses educational, sports, and entertainment infrastructure, among others. Very soon, the complex will offer its residents all conditions for a full, healthy lifestyle, learning, resting, and recreation. This top-notch complex will be a finest addition to our capital. Equally importantly, the project will have a positive impact on the country's overall investment climate, also spurring investors' interest, eventually to reflect beneficially in the country's economy," Irakli Garibashvili said.
According to the Prime Minister, such projects are especially relevant today as our country, together with the whole world, is fighting against the pandemic, and as we seek ways of rapid economic recovery.
"As you know, the ongoing global crisis has proved to be a major challenge for the development sector, among other industries. In 2020, our Government approved a special program that, together with other governmental programs designed to support business, has benefited this sector greatly. Krtsanisi Resort Residence is currently the largest development project in the country, an example demonstrating that, even in the face of the most adverse circumstances, we should set our mind on development. And this bold decision on the part of the investor is truly commendable," the Prime Minister stated.
Krtsanisi Resort Residence was established in 2010 by businessman Noshrevan Namoradze. Initially, investments were made and successful development carried out on an 8-hectare parcel of land. In light of the high demand for the project, the company purchased an additional 12 hectares of land, designing a multifunctional residential complex using modern planning and meeting the highest standards. The development under the project incorporated a total of 20 hectares. The project will employ almost 100 local subcontractors, which means employing thousands over several years. Importantly, the construction aspect will be carried out by Domus Construction, a Georgian company, and that will secure hundreds of jobs on each phase of construction.
