A memorandum of cooperation was signed between VR Holding and "Georgian Tourism Development Fund". The project is one of the most important development initiatives in Georgia, the total investment value of which exceeds half a billion USD, and it is being implemented on the Black Sea coastline, in an area of 40 hectares.
The memorandum was signed at the Paragraph Freedom Square a Luxury Collection Hotel and was attended by the Minister of Economy Levan Davitashvili, who evaluated the tourism importance of VR Shekvetili Forest Beach by Paragraph with the media.
"Paragraph Shekvetili is already an outstanding attraction in the country from the point of view of tourism. The tourism potential of Georgia has been completely changed by this facility, but now we are talking about developing the area in such a way that we can additionally attract USD 600 million in investment and create several thousand jobs. Of course, the tourism infrastructure should be developed more to receive more visitors.
At the same time, there are residential areas for local and foreign residents, sports and recreational spaces," says the Minister of Economy.
Construction of the first phase of VR Shekvetili Forest Beach by Paragraph will be completed in 2025.
