"Labbey Development," which plans to built two hotels in Tbilisi, is now working on the  design of the projects.

According to Zurab Meparidze, the company's representative, at this stage  the dismantling  of the old object located in Vake park has  started and in the  near future the company will go through the  procedures required for obtaining a construction permit. In Meparidze’s words,  the company's second project will be carried out on Chavchavadze Avenue and the hotel operator and the amount of investment will be known as soon as  the project is developed. The company plans to bring the Golden Tulip brand in the hotel located on Chavchavadze Avenue , at the same time which operator will manage  the hotel in Vake Park is not decided yet.

"Labbey Development" began realization of   investment projects a few years ago, but due to financial difficulties, the company has failed  to finish them.  The government postponed investment commitments  for "Labbey  Development" last year which was exempt from payment of penalty for failure to fulfill investment commitments.