↑ Scroll to top

The Fate of the 200 Million GEL Investment

Published: July 11, 2013 | 10:20 am
Text size: -A +A
thumb_l0egtorno5fufvw

The company working on the former Infections Hospital territory might abandon its activities. The talk is of a 200 million GEL investment, which should have been made into building a skyscraper on Asatiani Street. The Mayor’s Office Supervisory Service has fined the investor BD Property 4000 GEL and initiated a criminal case against it, due to the illegal removal of trees. The head of the Supervisory Service Zurab Kervalidze has told TV3 that the company had exceeded the limits set by its contract with the Ecology Department, and illegally cut down 27 healthy trees. On the other hand, BD Property’s architect Vladimer Abramishvili states that the fine is baseless, and such statements against his company are possibly being made in order to have the works suspended. Mr. Abramishvili says that there will be an official announcement made by BD Property on this issue within a few days. The Dutch development company had been assigned the former Infections Hospital territory by the Ministry of the Economy in 2010, and was planning to construct a 30 storey, and two 20 storey blocks of flats on an area of 37 000 m2.

VN:F [1.9.10_1130]
Rating: 0 (from 0 votes)
Share on Facebook Share on Twitter
More posts in category: Featured,Local Business News
  • Director of GNIA Appointed the Deputy Minister of Economy and Sustainable Development of Georgia
  • Condom Company will Reward NBA Players
  • Chairman of Nadzaladevi-2008 Fellowship Accused of Fraud
  • Mobile Network Price Hikes suspended