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A new shopping and entertainment centre will be constructed in Tbilisi

Published: July 5, 2013 | 11:57 am
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A new shopping and entertainment centre will be constructed in Tbilisi. The project will be carried out by the Royal Estate Company, and will replace the plans to build a Hyatt Hotel branch in the city. A spokesman for Royal Estate has confirmed that the complex will be built on the 60 hectare area which had previously been allocated to the Hyatt Corporation, though no further details on the project have been released yet. The construction of the Hyatt hotel was supposed to have been completed by 2010, having been started by the Loyal Capital Group in 2007, but the process came to a halt a year later due to the financial crisis. The Hyatt Hotel project initially had a budget of 150 000 000 USD, which was reduced to 100 000 000 USD following the crisis.

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