A total of $ 40 million will be invested in the construction of RIXOS TBILISI hotel,  one-third of which will be made by  the Georgian company City M which received a loan from "Bank of Georgia",  while the remaining amount will be invested by Israeli investors - President of the Georgian-Israeli Chamber of Commerce Itzik Moshe states.

The completion of the construction work has been postponed several times, however, according to the latest  decision of the government, the construction of the hotel in the center of Tbilisi is to be completed by June 1, 2016  and for this purpose at least  GEL 16 million should  be allocated.

 According to Itzik Moshe, the project coincided with a very difficult period, when the global markets were suffering  a crisis. Moreover, in his opinion, it is impossible to quickly build a hotel of this level, since  much time is required for the design and engineering. In particular, the cost of just one chandelier that is made specifically for the hotel reaches  $ 1 million.

"The global crisis has had a negative impact on almost all major projects. While  the construction of RIXOS TBILISI did not stop virtually for a single day. In addition, the public should  know about the scale of  the project  and  technologies  used during its implementation. The construction of the  hotel of this level takes about the same time in the developed countries as well,  "- Itzik Moshe notes.

In his words, the new hotel will have no competitors on the Georgian market as  it will be the most expensive hotel in the country offering  unique services.
 

The hotel will employ  100 people.

Source:commersant.ge