"Commersant"  radio station reports that the  Arabic holding company "Rakia" is launching in Georgia a major investment project in the amount of 20-25 million USD.

 
In particular, according to the CEO of the company Gigi Tsanava, it is a full-scale reconstruction of Tbilisi "Sheraton" owned by "Rakia". 

 
"The hotel has  not been renovated since the opening , but we have already started work on a master plan for the reconstruction. Management focuses on the original design, luxury - class restaurants, night clubs and a fitness center. Well-known architectural and design companies will be involved in the project, in particular, the company " Starwood ", - says Director.

"Rakia - Georgia" is the owner of a major shopping center in Tbilisi "Tbilisi Mall" and manages the Poti free industrial zone [FIZ].