Mindia Sabanadze, Chairman of the Supervisory Board of IG International, discusses the development of shopping centers in Batumi and Kutaisi. The businessman is going to start implementation of the plan from Batumi, however, he refrains to name the exact period.
The chairman of the supervisory board of the holding company IG International spoke about the regional development plans of IG Development, the managing company of "City Mall Gldani" and "City Mall Saburtao".
The investor says that the expansion of the existing Gldani Mall in Tbilisi will take place in 1.5 years, and the Saburtalo branch will also be expanded gradually.
Regarding the development strategy of "City Malls" in the regions, Mindia Sabanadze says:
"I want to go to the regions. First of all, we look at Batumi. I think this is one of the interesting markets because there are a lot of tourists. Quite a lot of investments are being made, and such large constructions and influx of population require a large shopping center.
Most likely, the first will be Batumi, and then I think about Kutaisi. I am looking for a location, as there are many factors to consider. The shopping center should be located in a place where there will not be too much traffic and it will not be too far from the center. I want to start with Batumi and then think about Kutaisi, because Kutaisi still needs more development and investments. From what I see, the government plans to develop specific projects and create a special environment in Kutaisi, which will lead to an influx of people. For this period, I will probably try to get a foothold."
