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Trump Tower Batumi Project will not be Cancelled

Published: June 12, 2013 | 4:46 pm
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(CNA)-Michael Cohen, Executive Vice President and Special Counsel to Donald J. Trump, told CNA that Trump Towers Batumi will be constructed. When asked about possible threats regarding Trump Organization’s projects in Batumi and Tbilisi, Cohen commented: “the agreement was only about Batumi project and there’s no cancellation.”

Earlier today Commersant radio reported that Trump Towers project implementation in Georgia will not start this year. Silk Road Group told the radio that the agreement remains in force, however, implementation depends on the domestic market. According to them, further market research should be conducted and surrounding infrastructure project should also be set up.

In August 2011, JFA was retained by Silk Road Group S.A. to design a master plan for a new waterfront development in city of Batumi, Georgia. The master plan will include a new 45 story luxury residential tower known as The Trump Tower Batumi, as well as a waterfront retail development and new marina, components which are also being designed by JFA. This will be a phased development consisting of the Marina Village and Trump Tower in Phase I, and a mixed-use development for Phase II. The anticipated floor area of the entire development will be approximately 160,000 square meters.

Construction was anticipated to commence in 2012, with Phase I anticipated completion in late 2013 / early 2014.

 

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