Stalled for 7 years "Axis Tower" project has been resumed. The decision was taken as a result of  the negotiations between the  Georgian Co-Investment Fund (GCF) and development company "Axis".

According to George Bachiashvili , the Fund’s Executive Director , and George Kapanadze, "Axis" CEO, the sides agreed to carry out investment in "Axis Tower"  project and fully implement it.

George Kapanadze says that already well-known architecture of "Axis Tower" has not changed, but the project was enriched functionality. In particular, a multifunctional complex will  consist of two 40-storey skyscrapers, one of which will be made of glass, and the other – of  stone. At present, construction works have resumed and their completion is scheduled for 2017.

The total investment cost of "Axis Tower"  is USD 83 million, while "Axis" and the Fund own   equal shares of  the capital.

In Bachiashvili’s words, this is another investment of the Co-investment Fund in Georgia, this time in  real estate and tourism.

“Axis Tower" project has been resumed due to several factors, is should be  mentioned that it will become one of the best patterns of  modern Georgian architecture, unprecedented in its scope and functional capacity. We are convinced that "Axis Tower" will become a new  hallmark of modern Tbilisi.

I would also like to point out that this particular investment will boost  development of Georgia’s  economy, particularly will recover  the commercial real estate market;  will help to attract  direct foreign investment into the country and create jobs ", - says Mr. Bachiashvili.

Source:commersant.ge