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| 08 June 2012 |
| May Records Extreme Rise in Real Estate Transactions |
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The month of May recorded an
extreme raise in real estate transactions. Namely, the reporting period recorded
51 243 transactions, while the figure marked 55 970 transactions in March 2011.
Similar activity on the real estate market was registered in 2007 too. The
reporting period reg |
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| 07 June 2012 |
| Reconstruction of Tbilisi "Sheraton" Suspended |
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Reconstruction of Tbilisi "Sheraton" hotel halted due to the hotel’s overcrowding. The hotel’s management announces, capacity has reached 95% in the recent period, rooms have been booked till the end of October and owners decided to stop reconstruction.
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| 05 June 2012 |
| Work on "Trump Tower" Design has Begun |
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"Silk Road Group" is working on the detailed design of Batumi "Trump Tower". The company explains that at the stage the exterior and interior design is specified, after that the construction works will begin. They also note that the Tower’s building will |
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| 30 May 2012 |
| Real Estate Prices Increased in Kutaisi |
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According to the real estate agencies the radio "Commersant" talked with, after Parliament was moved to Kutaisi real estate prices have increased in the city. One of the largest local agencies "New world" announces that prices on residential and commercial areas have a |
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| 30 May 2012 |
| Government Expects Investment Growth in Election Year |
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Georgia’s Prime Minister talks about a sharp increase in foreign investments in the light of electionyear. According to Nika Gilauri, in the first quarter of the current year in total 230 million USD entered the country in the f |
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| 28 May 2012 |
| Georgian Government Expects Growth of Investments from Arab Countries |
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The Georgian government expects growth of investments from the Arab countries. This statement was made by Georgia’s Prime Minister after he made a speech in the 4th Regional Conference of the International Chambers of Commerce. Nika Gilauri explains, representatives of Commerce Chambers |
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| 25 May 2012 |
| 9 710 Permits on Construction and Reconstruction Issued in Georgia in 2011 |
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9 710 permits on construction
and reconstruction (on the total area of 5 682 595 square meters) were issued
in Georgia in 2011, by 46,3% more than in 2011. BLACK SEA PRESS was told it at
the Ministry of Economy and Sustainable Development of Georgia. Over the
reporting period, the num |
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| 18 May 2012 |
| "Goro Group": Georgia's Real Estate Market Continues to Drop |
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Signs of real estate market recovery are not observed and after a 29% drop decline is fixed in the market again – "Goro Group" head which is one of the largest real estate agencies announces.
Note: In March 2012, the number of transactions in the real estate |
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| 14 May 2012 |
| Likani Complex Management Announced Job Vacancies |
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Likani medical - health hotel complex “Borjomi - Likani" will open in October. Prior to this, construction works are going on at a rapid pace in the territory of the complex . The complex's management has announced job vacancies.
Commersant.ge was told at B |
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| 04 May 2012 |
| NEW CREDIT AGREEMENT TO BE SIGNED WITH EIB |
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Georgian government is going to sign new credit agreement with European Investment Bank (EIB) in near future. According to Prime Minister Nika Gilauri, funding of 190 million EUR will be used for construction of Samtredia-Grigoleti motor road. The matter con |
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| 17 April 2012 |
| ADB Vice-President to Meet Georgian Ministers |
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In the framework of the Asian Development Bank (ADB) Vice-President Xiao-Yu Zhao working visit to Georgia, the bank’s Vice President will hold meeting with Finance, Energy and Natural Resources, Regional Development and Infrastructure Ministers at the ministry of Finance.
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| 29 March 2012 |
| CCIFG unveils plans for fostering French-Georgian business ties |
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Aimed at stimulating the interests of French investors, and in the framework of French Week, the exhibition of French companies in Agribusiness, Tourism, Transport, Energy and Durable Development sectors will be held June 21-24 in Tbilisi. This according to the C |
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| 27 March 2012 |
| "Uptown Tbilisi" to Open on April 7 |
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One of Europe's largest shopping centers - "Uptown Tbilisi" will open on April 7. Brands will be brought in the shopping center by Arabic "Al - Hokair Group", the Georgian representation of the group told "Commersant" that in total 16 stores would be ope |
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| 23 March 2012 |
| Funding of Lazika City Construction Launched |
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The government has started funds allocation for the construction of the new city of Lazika. According to the spread information, in total 85 thousand GEL have been allocated for Lazika topographical map creation and territory cleaning.
The amount necessarily for prepar |
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| 23 March 2012 |
| Lebanese Businessmen Interested in Investing in Georgia |
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Lebanese businessmen interested in investing in Georgia. These statements were made by entrepreneurs at the business forum in Lebanon which was attended by Georgian PM.
Nika Gilauri has acquainted the businessmen with the economic situation in Georgia. T |
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| 14 March 2012 |
| American experts meet Georgian businessmen |
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U.S. Department of Commerce is holding a special conference for the
representatives of Georgian business sector - business development and
franchising are the main issues, on which American experts will give
consultations to Georgian businessmen.
The conferen |
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| 13 March 2012 |
| "Rixos" to Be the most Expensive Hotel in Georgia |
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According to “Rixos" luxury hotel brand, the hotel in Tbilisi will be the most expensive in Georgia. The representative of the company said in an interview with "Financial" that the 5 - star hotel would open in early 2014 and more than 15 million USD would be invested in the project |
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| 13 March 2012 |
| "Silk Road Group" not Knows Date of Donald Trump's Arrival in Georgia |
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Will Trump Tower be built in Tbilisi or not? "Commersant" took an interest in this issue after the statement made by Trump’s representative. According to Michael Cohen, Mr.Trump plans to visit Georgia in April and attend the presentation of Batumi "Tower". However, he says, &qu |
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| 12 March 2012 |
| A 5 - star Hotel Construction Starts in Kutaisi |
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Construction of a 5 - star hotel will start in Kutaisi till the end of the year. The Mayor of the city told us that the matter was of the European company which already had a branch in Georgia. He added that the 5 - star hotel would have 80 - 150 rooms.
According to May |
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| 08 March 2012 |
| Georgia Participates in Real Estate Exhibition in Cannes |
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The Georgian National Investment Agency (GNIA) tries to attract investments in the French city of Cannes, at the international real estate exhibition. One of the world's most prestigious annual exhibition gives an opportunity to more than 6 000 companies to p |
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| 08 March 2012 |
| Government advocates training programs for tourism sector |
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The Georgian National Tourism Administration (GNTA), responsible for tourism development policy, has launched the International Tourism Training Center (ITLC) which will train personnel for the initial management positions in this sector. According to Maia Sidamo |
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| 02 March 2012 |
| Tbilisi hosts Georgia-Ukraine`s business forum |
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Tbilisi is hosting Georgia-Ukraine`s business forum at the Holiday
Inn hotel. Representatives of Ukraine`s developer, telecommunication,
transport, tourism, agriculture and light industry companies arrived in
Georgia to attend the forum.
The event was opened |
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| 29 February 2012 |
| Secondary Market Is Real Estate Market Leader |
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Georgian Business and Political Insight, an information analytical
portal, published research of Georgian real market based on which real
estate market players assure that market activity remains with the
secondary market. This trend remains unchanged since the economic crisis
of |
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| 24 February 2012 |
| FDI in 2011 just under 1B USD
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| Prime Minister Nika Gilauri has announced that, according to preliminary
data, Georgia received $950 million USD in foreign direct investment
last year. He also added that the final figure could reach more than one
billion dollars.
Economic growth for 2012 is p |
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| 23 February 2012 |
| EBRD Launches a New Phase of Cooperation with Georgian Partnership Found |
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| The European Bank for Reconstruction and Development (EBRD) launches a new stage of cooperation with Georgian Partnership Fund. According to EBRD, for the purpose a special conference will be held today.
The meeting will be attended by representatives of the diplomatic cor |
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| 20 February 2012 |
| RKD Architects Entering Georgia |
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| Irish architectural firm RKD Architects, which will celebrate its 100
year anniversary next year, is entering the Georgian market. The company
is currently holding negotiations with potential local partners.
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| 16 February 2012 |
| City Hall not Names Investor of Tbilisi Sea Complex |
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| Details regarding construction of the largest entertainment - recreation center on the Tbilisi Sea are not specified. According to Tbilisi City Hall, a private investor is carrying out works on the sea and this time the project is being processed. As the City Hall explained, more details would be |
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| 16 February 2012 |
| Azerbaijan Increased Investments in Georgia by 50% in One Year |
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| Volume of investment carried out by Azerbaijan in Georgia has increased by 50% last year. Azerbaijani Economic Development Minister Shahin Mustafaev told journalists.
Azerbaijani delegation, headed by Mustaphaev, participates in Azerbaijan - Georgia - Turkey Business Forum |
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| 10 February 2012 |
| "Trump Tower" Presentation Date is Still Unknown
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The exact date of presentation of one of the most large-scale project in Georgia - Batumi "Trump Tower" is still unknown. The "Silk Road Group" which is implementing the project told radio "Commersant" that, according to the available information, Donald Tr |
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| 03 February 2012 |
| Registration of Business Entities Increased by 7.7% |
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A total of 4 196 business entities have been registered in Georgia in January 2012.
This data exceeds the figure of similar period of 2011 by 7.7% while is 22.7% less than the previous month’s, which is related to seasonal factor: January disting |
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| 31 January 2012 |
| According To Preliminary Data, Real GDP Growth Was 6.8% In 2011
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According to the preliminary estimates, a real GDP growth made 8.7 % in December of 2011 compared with the similar period of the previous year. In 2011 the preliminary evaluation of a real GDP growth rate was 8.16.8% in the IV quarter compared to the previous year.
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