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Hilton Hotel in the Vake District

Published: August 1, 2013 | 10:41 am
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Preliminary works on the construction of a Hilton Hotel branch on Chavchavadze Avenue in Tbilisi have already started. The businessman Lasha Papashvili has told TV3 that talks with the project’s main investor – the European Bank for Reconstruction and Development – are at a conclusive stage, and the agreement will be signed in the near future. According to Mr. Papashvili, the total cost of the project will be 60 million USD, 16 million of which will be provided by the EBRD. The businessman adds that the hotel will have 160 rooms, and will also incorporate a housing block. According to a statement by the developing company Redix, which is owned by Mr. Papashvili, the project is still at a planning stage, and further details will be announced in the near future.

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