Arab investment company Dhabi Group is increasing its investment portfolio in Georgia by 35 percent, thanks to an additional $250 million USD investment.

Dhabi Group pledged to offer additional funding to two projects it earlier invested heavily in in Georgia’s banking and hospitality sectors. This extra investment would further support KSB bank and the construction of the five-star Millennium Biltmore Hotel complex in central Tbilisi.

KSB was one of Dhabi Group’s first investment projects in Georgia. With this, Dhabi Group’s chairman His Excellency Sheikh Nahayan Mabarak Al Nahayan, State Minister of Education and Scientific Research of the United Arab Emirates (UAE), now owned 45 percent of shares of KSB.

On KSB’s website, it noted Dhabi Group focused on expanding its investments in financial activities through offering strong financial resources and management experience in emerging, developing markets.

Meanwhile Dhabi Group is upping its investment towards the establishment of the Millennium Biltmore Hotel complex in Georgia’s capital Tbilisi. The hotel is centrally located on Tabukashvili St next to Radisson Blu Iveria Hotel.

Currently the hotel is still being built but is expected to open in January 2016. Already Dhabi Group invested $140 million USD in the Millennium Biltmore Hotel construction.

The 32-floor hotel will be the first hotel in Georgia to have a presidential room, announced Dhabi Group earlier.

Dhabi Group is the leading business group in the UAE and operates in many business sectors, including tourism, construction, real estate, development and management, production, sea wells, banking and financial service and more.

Source:agenda.ge