An investment company "Loyal Estate" has completed negotiations regarding the construction of a shopping center instead of “Hyatt” in the territory of the former “Aragvi” restaurant. As one of the company’s managers states "Commersant", talks ended and the company requested some time for marketing research.

 

Mindia Gadaev claims that approximately, in 4-6 months the company's business project will be ready and then it will be decided what areas will be developed. However, Gadaev refrains from naming a foreign partner.

 

"Loyal Estate" carried out the construction of the luxury class hotel “Park-Hyatt Tbilisi” in the territory of the former restaurant "Aragvi" which project was approved in 2007. However, after Russia - Georgia war and the global financial crisis investors refused to make money in the project.

Source: www.commersant.ge