Tbilisi City Hall's Architecture Service has approved the demolition of the iconic Rike Jugs (Rike Tubes) building in Rike Park. According to the agency's website, the permit covers the demolition of the structure located on a 14,591-square-meter site, which is currently owned by Rike Dom LLC.
The demolition follows a Georgian government decision adopted in May 2025, allowing the property to be redeveloped with the option of removing the existing structure. Under the revised privatization terms, the investor is required to invest at least GEL 44 million in the site. The property was acquired by Maqro Property in June 2025, although the company has not yet presented plans for the hotel project expected to replace the landmark.
Designed by renowned Italian architect Massimiliano Fuksas, the building was originally conceived as a music and exhibition center. Construction began in 2011 with an estimated project value of GEL 89 million, but was halted following the change of government, leaving the structure unfinished after approximately GEL 75 million had been spent.
The site has changed ownership several times in recent years. Businessman Davit Khidasheli purchased it in 2022 with plans to develop a wine, digital art, and technology museum, but the project was never implemented. The future design, scale, investment amount, and hotel brand for the redevelopment of the Rike Park site have yet to be announced by the new owner.
