According to decree of the Prime Minister, LLC Dhabi Group Georgia will invest at least $50 million in building of former Institute of Marx, Engels, Lenin (IMEL), located on Rustaveli Avenue in Tbilisi. The company undertakes construction of 5-star hotel of internationally recognized brand with at least 140 rooms and a multifunctional complex on the mentioned territory. Construction must be completed until September 15, 2016. LLC Dhabi Group Georgia is registered in 2007 and its owners are three sheikhs from UAE. To remind, construction of the mentioned hotel, which had to be managed by Kempinski, was originally supposed to be finish in 2010, but the project was suspended and altered then. According to Tbilisi City Hall’s statement of 2012, Dhabi Group had planned to invest $40 million and to finish works in 2 years. The hotel had to be managed by Millennium brand.

Source: www.georgien.ahk.de