Golden Tulip hotel in Chavchavadze Avenue will not be built. The project was carried out  by the company Labey Development. The company representative Zurab Meparidze says in the conversation with the radio "Commersant" that the hotel had to be built on the place of the former building of the scientific research institute in Vake, but the territory was sold due to financial problems.

"Currently the territory belongs to the company Domus, which plans to build a multifunctional complex on the site," Meparidze notes.

The company had to implement a hotel project in Vake several years ago, although the project was suspended for several years. Labey Development planned to build another Golden Tulip near Vake park but the company sold the territory to Domus where the construction of the multifunctional complex has been launched.

Source:commersant.ge