Bidzina Ivanishvili's Tourism Development Fund has been engaged in the development of hotel projects in Tabori and Sololaki in Tbilisi, as well as in Abastumani for more than seven years.
As of now, the fund operates two hotels, one in Shekvetili (Paragraph) with an investment value of USD 130 million, and the other in Tbilisi (Paragraph) - USD 161 million.
BMG asked the fund's press office when their other investment projects will be completed and how much they will invest in them. According to the fund, the specific completion date is known for three facilities with a total investment value of USD 375 million, while the completion date of the other three projects is unknown because they are at an earlier stage of development, with an investment cost of USD 298 million.
According to the "Co-Investment Fund":
1) Paragraph Abastumani - $87 million;
Status: To be completed in 2026
2) Paragraph Tabori - $174 million;
Status: To be completed in 2025
3) Hotel in Sighnaghi - $56 million;
Status: completion date in 2024;
4) Wellness complex on Green Cape - $123 million;
Status: date to be confirmed after project adjustment)
5) Hotel in Ganmukhuri - $60 million;
Status: date to be confirmed after project adjustment)
6) Hotel and conference center in Sololaki - $115 million investment.
Status: the date will be specified after the adjustment of the project)".
