News & Media
Partnership Fund studies a project proposal for a four-star hotel in Abastumani
Posted on: 25 Jan 2016
The partnership Fund together with Redix Group, a local company works on project proposal for a first high-class hotel. Construction of the hotel is planned in Aghobili, a settlement area in Abastumani, South part of Georgia. 160 rooms hotel will have a café, restaurant, conference hall, meeting room, swimming pool, pub, club, fitness club and spa. Giorgi Cherkezishvili, Head of the Investment Department of the Partnership Fund said that Abastumani which is one of the strategically important resorts, is lacking high-class hotels and that only several guesthouses are operating there. "So, there is a demand for high-class hotels in Abastumani. As for the Fund’s strategy, our goal is to develop infrastructure in the regions and support the private business. We think that the implementation of such a giant project would increase the awareness of the region and attract more holiday makers in Abastumani,” Giorgi Cherkezishvili said. It is planned that the hotel construction works will be launched in spring of this year and will be completed in 2018. The total investment volume of this project is $ 26 m.