Tbilisi City Hall has launched proceedings to issue planning terms for a development plan at Rike Park, where an investor is seeking to rezone the site from recreational and transport zones to Public-Business Zone 2.
Irakli Abesadze, head of the Civic Participation Center, says the investor is seeking approval for a 67,761-square-meter building, potentially around 10 storeys tall. A government decree signed by Prime Minister Irakli Kobakhidze allows a hotel to be developed on the site, potentially alongside a casino, restaurants and other businesses. Abesadze is calling for a meaningful public consultation involving specialists.
The proposal concerns the 14,591-square-meter Rike Jugs site, which is owned by Rike Dom LLC. Designed by Italian architect Massimiliano Fuksas, the structure was originally intended as a concert hall and exhibition center. Built at a cost of GEL 75 million in public funds, it is now set for demolition under a government decision.
In June 2025, Macro Property, part of Turkish-owned Macro Group, acquired Rike Dom in a deal valued at $2.84 million, with an additional GEL 10.8 million payable to the previous owner, Global Victory Trust. Abesadze has criticized the handling of the property and argues that its future should be considered as part of Rike Park.
