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Niba Delisi to be Part-Financed by Bank of Georgia

Published: October 10, 2013 | 5:16 pm
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According to the information obtained by TV3, 20% of the financing of the construction of Niba Delisi will be carried out by the Bank of Georgia. The founder of Niba Invest Bakur Kighuradze, who has recently been freed as a political prisoner, has stated that the BOG has become interested in partially funding the project, once the deal to bring in the global brand Carrefour has been finalised. The Co-Investment Fund has also expressed interest in financing the project. According to Mr. Kighuradze, all financiel issues will be resolved by the end of the year, and the construction process will resume in March 2014.
Niba Delisi will house a multifunctional trade centre. The first stage of the project will see construction take place on an area of 30 000 m2 at a cost of $32 million. In total, the unit will be located on an area of 100 000 m2 and will cost up to $180 million to complete. The first stage will be completed within 2 years of the start of the construction process, while the project as a whole will be completed within 7-8 years.

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